Canara Bank Education Loan Interest Rates 2024

July 27, 2024

BY: DALIP SINGH

Education Loan Scheme for Pursuing Master’s Degree

 This scheme offers loans up to Rs. 1 crore with interest rates ranging from 9.25% to 11.35%.

IBA Model Education Loan Scheme 

This is a need-based financing scheme where the interest rate details can be obtained directly from the bank. 

Vidya Sagar Scheme 

This scheme provides loans for amounts greater than or equal to Rs. 7.50 lakhs, with interest rates between 10.25% and 11.25%. 

IBA Skill Loan Scheme 

– This scheme offers loans ranging from Rs. 5000 to Rs. 1.5 lakhs, with interest rates from 9.25% to 10.75%.

Vidya Turant 

This scheme provides loans up to Rs. 40 lakhs, depending on the category of the institution, with interest rates ranging from 8.60% to 11.35%. 

Vidya Shakthi for Degree Courses 

Loans up to Rs. 7.5 lakhs are offered under this scheme, with an interest rate of 9.25%. 

Vidya Shakthi for Vocational, Certificate, Diploma, and Skill Loans 

This scheme provides loans up to Rs. 1.5 lakhs at an interest rate of 9.25%. 

Vidya Sahay 

Loans up to Rs. 1 lakh are available under this scheme, with an interest rate of 11.25%. 

Flexible Repayment Options

Canara Bank offers flexible repayment options tailored to the financial situations and career prospects of students. 

Eligibility Criteria 

Each loan scheme has specific eligibility criteria, which may include academic performance, course of study, and the category of the institution.