(Govt.

Of India Undertaking)
MADHAPUR, HYDERABAD 81. PH: 040-23110210

DETAILS OF EDUCATION LOAN SCHEME

1. Quantum Upto Rs. 10 Lakhs
2. Margin Upto Rs. 4 Lakhs - NIL
Above Rs. 4 Lakhs - 5%
3. Security:
i) Loan upto Rs. 4 Lakhs - NIL
- Loan in the joint names of student and parent.
- Assignment of future income of student.
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ii) Loan above - For Meritorious student: Satisfactory 3rd party Guarantee
Rs. 4 Lakhs upto Rs.7.5 loan in the joint names of student and parent
Lakhs - Assignment of future income of student.
- For others: Collateral security to the extent of Loan Amount.
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iii) Loan above - Loan in the joint names of student and parent.
Rs. 7.50 Lakhs - Assignment of future income of student.
- Collateral security to the extent of Loan Amount.
4. Rate of Interest: Upto Rs. 4 Lakhs - 11.50% (Floating)
Above Rs. 4 Lakhs to Rs. 7.5 Lakhs - 12.00% (Floating)
Above Rs. 7.50 Lakhs - 11.50% (Floating)
SIMPLE INTEREST IS CHARGED DURING PERIOD OF STUDY
AND UPTO COMMENCEMENT OF REPAYMENT.
Compound Interest On Commencement of Repayment.
5. Processing Charges NIL
6. Repayment For Loans upto Rs. 7.5 Lakhs - 10 Years
For Loans above Rs. 7.50 Lkhs - 15 Years
Repayment holiday: Course period plus 1 year after
completion of course or 6 months after getting job,
WHICHEVER IS EARLIER.
Simple interest calculated during the repayment holiday will be
added to principal and EMI is calculated.

No Prepayment penalty.
If the liability is cleared on account of take over of loan by other
BANKS / Financial Institutions, penal interest of 2% on the
outstanding liability at the time of take over will be collected.
7. Other Concessions 0.5% interest concession to Girl students.
0.5% concession where interest is serviced during the study
period.
Loans can be applied online / offline through web page www.canarabank.com
Note: Loan Sanction subject to fulfilling the terms and conditions of the Bank as prevailing at
the time of sanction.
Further details Please contact CANARA BANK, MADHAPUR,
HYDERABAD. Ph: 040-23110210, Mob: 7382932209,
EMAIL: cb3091@canarabank.com