Collateral Free Education Loan by Canara Bank, Vidya Turant Reviews, Eligibility & Apply Online – Public Sector Canara Bank is offering Collateral Free Education loan for study in India. The maximum security free loan amount for higher studies will be Rs 50.00 Lakhs in select institutions viz., Selected IIMs/IITs/NITs/IISc /ISB (Hyderabad & Mohali) and other reputed institutes. The Rate of Interest is also nominal as similar to other banks.
Collateral Free Loan Amount
- Category A Institute: Students of ISB, Hyderabad & Mohali Limit up to Rs 50.00 lacs.
- Category B institute Students of IIMs. Limit up to Rs 40.00 lacs.
- Category C institute: All other institutions other than A and B Limit up to Rs 30.00 lacs. List of Institutes
Security/Collateral Details
- No collateral Security up to limits for institutions designated category wise ( i.e. For students of IIMs Limits up to Rs 25.00 lacs, For students of ISBs, Limits up to Rs 40.00 lakhs and for students of all other institutions Limits up to Rs 20.00 lakhs )
- For limit upto Rs.50.00 Lakhs (Group “A” Institutes- e.g. Indian School of Business)
- For limit upto Rs.40.00 Lakhs (Group “B” Institutes-e.g. IIMs & Other Premier Institutes)
- For limit upto Rs.30.00 Lakhs (Group “C” Institutes-e.g. IIITs & Other Premier Institutes)
Service Charges
No Service Charges
Loan Repayment
Repayment of the loan will be in equated monthly Installments up to a maximum of 15 years excluding the moratorium period ( i.e., course period plus one year). Also Know – Canara Bank Home Loan Interest Rate, EMI Calculator
How To Apply ?
Vidya Turant loan can be applied through any of the mode available like visiting the branch, through Canara ai1 mobile app or Internet Banking or calling customer care. You may also apply through Askbanking after clicking here.