Canara Bank offers one of the lowest education loan interest rates among public sector banks under the IBA (Indian Banks Association) Model Scheme. It's an excellent choice for students at government-listed premium institutions.

Key Features at a Glance

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Interest Rate
8.50%–11.50%
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Max Loan
₹40L (India) / ₹1Cr (Abroad)
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Tenure
Up to 15 years
  • ✅ IBA Model Loan Scheme — standardised & reliable
  • ✅ 0.5% concession for girl students
  • ✅ Covers all IBA-approved institutes
  • ✅ Moratorium: course + 1 year
  • ✅ Tax-deductible interest under 80E

Documents Required

  • 📄 Admission letter from university/college
  • 📄 Academic marksheets (10th, 12th, graduation)
  • 📄 Co-applicant KYC: Aadhaar, PAN, Passport
  • 📄 Income proof: Salary slips (3 months) / ITR (2 years)
  • 📄 Bank statements (6 months)
  • 📄 Fee structure / cost of education certificate
  • 📄 Collateral documents if applicable

Why Apply Through StudyCapital?

As an authorised DSA partner, StudyCapital can:
• Submit your application with priority processing
• Negotiate your interest rate (we have volume relationships)
• Ensure zero document rejection by pre-checking your file
• Get you a decision in 3–5 working days vs 2–4 weeks directly

Our service is 100% free — lenders pay us, not you.