Educational loans

Canara Bank

Bank Type : Goverment Bank
No. Of Branches : 5507

About Bank

Widely known for customer centricity, Canara Bank was founded by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906, at Mangalore, then a small port town in Karnataka. The Bank has gone through the various phases of its growth trajectory over hundred years of its existence. Growth of Canara Bank was phenomenal, especially after nationalization in the year 1969, attaining the status of a national level player in terms of geographical reach and clientele segments. Eighties was characterized by business diversification for the Bank. In June 2006, the Bank completed a century of operation in the Indian banking industry. The eventful journey of the Bank has been characterized by several memorable milestones. Today, Canara Bank occupies a premier position in the comity of Indian banks. With an unbroken record of profits since its inception, Canara Bank has several firsts to its credit. 

Over the years, the Bank has been scaling up its market position to emerge as a major 'Financial Conglomerate' with as many as nine subsidiaries/sponsored institutions/joint ventures in India and abroad. As at September 2014, the Bank has further expanded its domestic presence, with 5507 branches spread across all geographical segments. Keeping customer convenience at the forefront, the Bank provides a wide array of alternative delivery channels that include 7095 ATMs, covering 3833 centres. Several IT initiatives were undertaken during the year. The Bank set up 132 hi-tech E-lounges in select branches with facilities like ATM, Cash Deposit Kiosk with voice guided system, Cheque Deposit Kiosk, Self Printing Passbook Kiosk, Internet Banking Terminal, Online Trading Terminal and Corporate Website Access. ‘Canara e-Infobook’ – an electronic passbook and banking related information facility was introduced on mobile platforms - Android, Windows8 & iOS. The Bank also launched Canara Bank RuPay Debit Card, Canara Club Card - Debit, Canara Secured Credit Card, Canara Elite Debit Card and EMV Chip Cards under debit and credit cards. Online Savings Bank and PPF account opening were introduced during the year. The Bank made several value additions under internet banking and mobile banking services.

Loan Procedures


Payment of course fees. Purchase of books, equipments, instruments, uniform, payment of hostel fees, examination fees, study tours, passage expenses (for studies abroad)

Eligible Courses : 

Studies in India:

Graduation, Post-graduation including technical / professional courses with employment potential conducted by colleges / Universities approved by UGC / Govt./AICTE/Department of Electronics / IMC, autonomous institutions like IIT,IIM etc.

Studies abroad:

Job oriented, technical / professional courses- (graduation / post graduation

Quantum of Finance:

Need based finance.

For studies in India : Max. Rs.10.00 lacs 

For studies abroad : Max. Rs.20.00 lacs


Upto to Rs.4.00 lacs 


Above Rs.4.00 lacs 

For studies in India:


Studies abroad : 



Loan is given jointly to the student and parent /guardian

Assignment of future income of the student 

Upto Rs.4.00 lacs

No security

Above Rs.4.00 lacs upto Rs. 7.50 lacs 

Satisfactory third party guarantee

(Note: If the proposed borrower prefers to offer collateral security of tangible assets (moveable or immoveable) instead of bringing collateral securities in the form of third party guarantee, the same may be accepted, at his request, provided the securities with stipulated margin covers 100% of the loan amount).

Above Rs. 7.50 lakhs: 

Collateral security equal to 100% of the loan amount.


Commences One year after completion of the course or Six months after getting employment, whichever is earlier.

Loan with interest is repayable in equated monthly instalments as follows : 

Upto Rs.7.5 lakhs 

 10 years


Above Rs.7.5 lakhs 

15 years

Loan can be availed from the branch nearest to the place of permanent residence of the parent / guardian.

To Apply For Education Loan Click Here.


Canara Bank 112, J C Road Head Office Bangalore 560002

080- 22221581

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