Canara

• The Ministry of Education (MOE) has identified Top 902 Quality Higher Educational Institutes (QHEIs) for the year 2024-25.
• Annually, the Department of Higher Education (DHE) will update the list of such Quality Higher Education Institutions (QHEIs).

• Need-based finance with the required margin on eligible expenses will be considered for Education Loan in Top 902 Quality Higher Educational Institutions

Institution Category

• AAA: Nil Margin
• AA & A: (Margin as per IBA Model Education Scheme)

Margin Details for AA & A Institutions:

• Loan Amount up to Rs 4.00 Lakhs: Nil Margin
• Loan Amount above Rs 4.00 Lakhs: 5% Margin

• The repayment period of the education loan would be up to 15 years, excluding the moratorium period (Course period + 1 year).
• No prepayment penalty will be levied for prepayment of loan any time during the repayment period.

• Course Fee payable to college/school/hostel.
• Examination/Library/Laboratory fee.
• Travel expenses/passage money for studies abroad.
• Insurance premium for the student borrower, if applicable.
• Caution deposit, building fund/refundable deposit supported by Institution bills/receipts.
• Purchase of books/equipment/instruments/uniforms.
• Purchase of computer at a reasonable cost, if required for the completion of the course.
• Any other expense required to complete the course subject to ceiling.

Reasonable lodging and boarding charges will be considered if the student opts for outside accommodation.