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    Canara Bank Loan Agreement 28082024

    Uploaded by

    Ankit Sharma

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Canara Bank Loan Agreement 28082024

    Uploaded by

    Ankit Sharma
    43 views2 pages

    Copyright

    © © All Rights Reserved

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    PDF, TXT or read online from Scribd

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    Copyright:

    © All Rights Reserved
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    Download as pdf or txt
    43 views2 pages

    Canara Bank Loan Agreement 28082024

    Uploaded by

    Ankit Sharma

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    Educational Loan Facility to ICSI Students by Canara Bank

    Weblink

    1. The weblink for applying the Education Loan has been mentioned below :
    https://www.vidyalakshmi.co.in/Students/

    2. For any further enquiry and / or clarification, please contact on the email IDs provided
    by Canara Bank:
    rah5037codel@canarabank.com and cc to cb0267@canarabank.com

    Benefits

     No Collateral for loan upto Rs 7.50 Lakhs.


     Lower Rate of Interest.
     Reducing Balance Interest Rate. No Prepayment penalty.
     Quick processing and Disbursement. Loan Quantum Need-based finance
     Students may submit their loan applications either at the bank branches near to
    the residence of parents or bank branches near to the educational institution
    where they are studying

    Eligibility

     Student should be an Indian National.


     NRI Students holding valid Indian passport

    Margin

     Upto Rs.4.00 Lakhs - NIL


     Above Rs.4.00 Lakhs Studies in India - 5% Security Assignment of future income
    of the student

    Merit Quota

    Loan amount Security

     Upto Rs 7.50 Lakhs No collateral Security, loan will be covered


    under Credit Guarantee Fund Scheme for
    Education loans(CGFSEL) scheme subject to
    the conditions Loan is granted jointly with
    the parent/Guardians of the student.

     Above Rs 7.50 Lakhs Tangible Collateral security to cover at least


    100% of the loan amount. Loan is granted
    jointly with the parent/Guardians of the
    student.
    Management Quota :
    Loan amount Security

     Upto Rs 4.00 Lakhs No collateral Security Loan is granted jointly


    with the parent/Guardians of the student.

     Above Rs 4.00 Lakhs Tangible Collateral security to cover at least 100%


    of the loan amount. Loan is granted jointly with
    the parent/Guardians of the student
    Repayment tenure
    Repayment of the loan will be in equated monthly Installments up to a maximum of 15 years
    excluding the moratorium period ( i.e., course period plus one year). No prepayment penalty will
    be levied for prepayment of loan any time during the repayment period

    Documents Stipulated
     Application with 2 passport size photos of applicant / Co-applicants or guarantor.
     KYC documents of applicant/ Co-applicants or guarantor.
     Proof of Identity PAN CARD/Driver’s License/Voter ID /Passport/ Aadhar Card etc.
     Proof of Residence Driver’s License/Voter Id/Passport / Aadhar Card / Electricity
    Bill/Telephone Bill etc., /Business Proof related GST and others.
     Age proof of the applicant/ Co-applicants. PAN card (photo copy).
     Proof of admission to the course.
     Schedule of expenses for the course. Mark sheet of last qualifying examination.
     Proof of income/assets (if any). Income Proof for Co-applicant/guarantor (if any).
     Copy of land records (if applicable).
     Any other documents as required by Bank

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