|
Loan amount upto Rs. |
Upto Rs.10 lakhs.
|
Details of
interest/
payment |
Maximum period is 8 years
(principal
amount).
Payment starts 6 months after the course
begins or getting a job (whichever is earlier).
Accumulated interest is to be paid within
2-3 years of course completion.
Interest during course is simple. After the course is
Compound.
|
| Margin Money |
Student has to arrange 25% of
all tuition and living costs.
|
| Security |
Mortgage on
property (in parents'
name), shares, NIC, Unit trust, other investments.
|
| Documents required |
Bank forms, letter of admission from
the university, clearly stating living costs, tution
fees and other costs.
Student must have a minimum of 60% in his previous
examination.
|
| Where to apply |
Any Canara bank branch in
India. Further information and application form can
be had from Canara Bank, Head Office, Priority
Credit Section; Credit Wing, 112 J C Road, Bangalore
560002, or any other branch of Canara Bank.
|
| Time taken |
Usually
processed within 30-40 days.
|
