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Sify Home >> Finance >> Calculators >> College Funding Planner >> Banks >> Canara Bank

Condition	Canara Bank Click to visit homepage
	Education in India	Education Abroad
Courses Eligible	Institutions offering courses should have approval of Central Govt. & State Govt./University affiliation/Autonomous Institutes/AICTE/DOEACC.
Student Eligibility	needy and meritorious Indian students for pursuing studies from High School onwards including graduation, technical and professional courses.	job oriented courses at degree level and advanced studies in all areas for post-graduation.
Expenses Considered	Payment of fees to school/college and for purchase of books, hostel fees, examination fees, etc.
Quantum of Finance	Need based finance subject to repaying capacity of the parents/students with following margin and ceilings.
	Maximum Rs.7.50 lacs	Maximum Rs.15.00 lacs
Margin	Upto Rs.4.00 lacs NIL. Above 4.00 Lacs, the following slabs apply.
	5%	15%
Security	Upto Rs.4.00 lacs Joint documentation with parents/guardian. Above Rs.4.00 lacs Collateral security of suitable value or Co-obligation of Third Party having required networth with Assignment of future income of the student.
Repayment	To be repaid in 5 to 7 years.
Holiday	One year both for principal & interest from the date of completion of course or six months of getting a job whichever is earlier.(Interest will be debited quarterly on simple basis during the repayment holiday/moratorium period. After commencement of repayment,the accrued interest is added to the principal amount and EMIs fixed on total outstanding amount.)
Interest Rate	(1) Student satisfying DRI norms (irrespective of quantum of loan) (DRI:annual income less than Rs 7200 p.a) 4.00% (2) Others - Upto Rs.4 lakhs 11.75% Above Rs.4 lakhs 12.75%