Canara Bank Vidya Sahay Scheme 2024

BY: DALIP SINGH

July 27, 2024

Purpose

The scheme is designed to assist financially disadvantaged and deserving candidates in paying the down payment required by CET/counselling authorities during the selection and counseling process.

Loan Quantum 

Provides a maximum eligible amount of Rs. 1 Lakh or the initial payment proposed by the CET authorities, whichever is less. 

Margin and Processing Charges

No margin is required for this loan scheme. There are no processing charges associated with this loan.

Security Requirements 

The student's parent or guardian must join as a co-borrower. No collateral security is required for this loan.

Repayment Tenure 

The loan is to be repaid after the sanction of the regular education loan. 

Co-borrower Requirement 

The involvement of a parent or guardian as a co-borrower ensures a joint responsibility for loan repayment. 

Accessibility 

This scheme makes the selection and counseling process more accessible to students from financially disadvantaged backgrounds. 

Quick Financial Support 

Provides immediate financial support to cover the initial down payment, ensuring that deserving students can proceed with their education plans without delay. 

Ease of Application 

The absence of collateral and processing charges simplifies the application process, making it easier for students to obtain the necessary funds.