IndiaBanks.org · independent research

Personal, home, vehicle & other loans

Canara Education Loan for Masters Degree

Masters-degree education finance for select top-ranked universities in India and abroad, with loans above ₹7.50 lakh, collateral-linked limits and repayment up to 15 years.

RateNew education loan for a master's degree abroad: fixed effective rates are 10.35% (100%+ collateral), 10.60% (75%–<100% collateral) or 10.85% (50%–<75% collateral) p.a.Maximum amountMinimum loan is above ₹7.50 lakh. With collateral coverage of 100% or more, there is no maximum cap subject to project cost; with coverage below 100%, maximum is ₹1 crore.TenureRepayment in EMIs up to 15 years excluding the moratorium period.
Official product page ↗Compare category

Quick eligibility check

Canara Education Loan for Masters Degree

0 of 5 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Does your annual income meet this requirement: admission, exam scores, income/assets and collateral evidence are assessed?

Published source: Minimum income

2Document checkDo you have this required document or proof: Admission letter, course expense schedule and academic mark sheets?

Published source: Minimum income

3Document checkDo you have this required document or proof: Passport, PAN/Aadhaar, KYC and residence proof?

Published source: Minimum income

4Document checkDo you have at least one of these required documents: Income/assets and co-borrower or guarantor proof?

Published source: Minimum income

5Document checkDo you have this required document or proof: Collateral title and valuation documents where required?

Published source: Minimum income
0 of 5 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 30 Aug 2026 · active
Offered byCanara Bank

India and eligible overseas study destinations

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Loan typeEducation loan for a Master's degree in India or abroad at select top-ranking universities, including tuition, travel, living and medical-insurance expenses.View source
Canara describes Masters finance for select institutions and lists covered study expenses.
Source
Education Loan Scheme for pursuing Masters Degree
Page / section
Purpose; Expenses considered
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
RateNew education loan for a master's degree abroad: fixed effective rates are 10.35% (100%+ collateral), 10.60% (75%–<100% collateral) or 10.85% (50%–<75% collateral) p.a.View source
The table prints collateral-security bands and effective fixed rates 10.35%, 10.60% and 10.85%.
Source
Retail lending interest rates linked to fixed rate — Canara Bank
Page / section
Education Loans, new master's degree scheme rows 16(iii)
Accessed
12 Sept 2026
Confidence
high
Open official source ↗
Minimum incomeNo student or co-borrower minimum income amount is published; admission, exam scores, income/assets and collateral evidence are assessed.View source
Canara lists academic and admission tests but no salary threshold.
Source
Education Loan Scheme for pursuing Masters Degree
Page / section
Eligibility; Required documents
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
Maximum amountMinimum loan is above ₹7.50 lakh. With collateral coverage of 100% or more, there is no maximum cap subject to project cost; with coverage below 100%, maximum is ₹1 crore.View source
The quantum table links the ₹7.50 lakh minimum and collateral-dependent maximums.
Source
Education Loan Scheme for pursuing Masters Degree
Page / section
Loan Quantum
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
TenureRepayment in EMIs up to 15 years excluding the moratorium period.View source
The official repayment section publishes up to 15 years excluding moratorium.
Source
Education Loan Scheme for pursuing Masters Degree
Page / section
Repayment tenure
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
Processing feeCollateral coverage 100% or more: 0.50% of sanctioned limit, maximum ₹10,000. Coverage below 100%: 0.50%, maximum ₹20,000. The page publishes a 50% waiver for 1 April 2026 to 30 June 2026.View source
Canara publishes two processing-charge maxima by collateral coverage.
Source
Education Loan Scheme for pursuing Masters Degree
Page / section
Processing charges
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
Prepayment / foreclosureNo prepayment penalty.View source
No prepayment penalty is listed as a benefit.
Source
Education Loan Scheme for pursuing Masters Degree
Page / section
Benefits
Accessed
30 Aug 2026
Confidence
high
Open official source ↗

Benefits and features

  • Masters studies in India or abroad at select institutions
  • Minimum loan amount above ₹7.50 lakh
  • Up to ₹1 crore where collateral coverage is below 100%; no cap as per project cost at 100%+ coverage
  • 10% margin
  • Up to 15-year repayment after moratorium
  • 50% processing-charge waiver published for 1 April 2026 to 30 June 2026

Eligibility

  • Student must be an Indian national with a valid passport, admission to a select institution and minimum competitive-exam scores: SAT 1250, ACT 26, GRE 300 or GMAT 650 as applicable.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

  • Admission letter, course expense schedule and academic mark sheets
  • Passport, /Aadhaar, and residence proof
  • Income/assets and co-borrower or guarantor proof
  • Collateral title and valuation documents where required

Related official documents

Retail lending interest rates linked to fixed rate — Canara Bankofficial-rate-page · current · accessed 12 Sept 2026
↗
Education Loan Scheme for pursuing Masters Degreeofficial-product-page · current · accessed 30 Aug 2026
↗
Canara retail loan interest-rate rangesofficial-rate-table · current · accessed 30 Aug 2026
↗

Plan before applying

Try the numbers

Private, instant and based on the values you enter.

Try your numbers

Loan repayment estimate

See what the loan could cost each month. Move any slider to try a different amount, rate or repayment time.

One monthly payment₹21,696twenty-one thousand six hundred ninety-six rupees
Interest paid over the full loan₹27,06,939twenty-seven lakh six thousand nine hundred thirty-nine rupees
Everything you repay₹52,06,939fifty-two lakh six thousand nine hundred thirty-nine rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

Use the published table

Find the exact published value

Choose a table, then pick its row and column. This shows the exact entry published by the bank or insurer without making you scan every cell.

Housing cum Solar · Purpose / eligibilityHousing borrower with rooftop rights and regular electricity bill

This value is copied from Canara solar, agriculturist vehicle and Masters-loan terms. Check the table notes before relying on it.

Source: Canara loan product pages and retail rate tables · Quantum; Interest; Eligibility; Repayment; Processing; Security Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 3 rows · 4 columnsCanara solar, agriculturist vehicle and Masters-loan termsPublished limits, rates, eligibility, fees, security, subsidy and repayment terms from Canara's official pages.View tableHide table

Scroll sideways to view every column

Canara solar, agriculturist vehicle and Masters-loan terms
ProductPurpose / eligibilityAmount / rateTenure / charges
Housing cum SolarHousing borrower with rooftop rights and regular electricity billSolar up to ₹10 lakh incl. subsidy; housing rate range 7.15%–10.00%Up to 20 years; 0.50%, ₹1,500–₹10,000 + ; subsidy up to ₹78,000
Vehicle to AgriculturistsQualifying agriculturist land/income; special farm activities ₹4 lakh incomeNo upper limit up to one year's income; used lower-of 60% tests or ₹50 lakh; vehicle range 7.45%–15.00%84 months new / 60 months used; 0.25%, ₹1,000–₹5,000 +
Masters Degree LoanIndian national with select-university admission and SAT/ACT/GRE/GMAT scoreAbove ₹7.50 lakh; no cap at 100%+ collateral, otherwise ₹1 croreUp to 15 years after moratorium; 0.50% max ₹10,000/₹20,000; no prepayment penalty
Canara loan product pages and retail rate tables · Quantum; Interest; Eligibility; Repayment; Processing; Security · accessed 30 Aug 2026Open official source ↗
Table 2 · 5 rows · 4 columnsCanara fixed-rate retail lending — selected schemesView tableHide table

Scroll sideways to view every column

Canara fixed-rate retail lending — selected schemes
SchemeFixed-rate premiumPublished effective rate(s)Conditions
Housing Loan (including Kuteer)0.75%8.50%–10.75%Women/other borrowers; CRG-PRIME to CRG 4
Canara Vehicle, four-wheelers0.75%8.70%–10.85%Women/other borrowers; CRG-PRIME to CRG 4
IBA Skill Loan0.75%10.25%Maximum ₹7.50 lakh
Master's degree abroad0.75%10.35%–10.85%Collateral 50% to 100%+
Canara Rooftop Solar up to ₹2 lakh0.75%6.50%Solar slab; included for cross-reference
  • is 8.00% w.e.f. 12.03.2026.
  • The published effective rates are interest rates, not .
  • Housing table note explicitly includes Canara Kuteer, agriculturist and variants.
Retail lending interest rates linked to fixed rate — Canara Bank · Housing, vehicle and education tables; housing-variant note · accessed 12 Sept 2026Open official source ↗

More from Canara Bank

Related products

Canara Agricultural DRI Loan

Differential Rate of Interest agricultural loan for very low-income borrowers, up to ₹15,000 for agriculture or ₹20,000 for housing at a simple 4% rate.

View product

Canara Apna Ghar

A home-loan scheme for eligible metro and urban borrowers with little or no documented income but at least 24 months of verifiable bank or activity.

View product

Canara Bee Keeping (Apiculture) Loan

Finance for bee boxes, hives, extractors, smokers, colonies, combs, sugar and other apiculture inputs.

View product

Canara Budget

Salaried personal loan for non-speculative domestic needs, with Prime and Delight variants, income-multiple limits up to ₹50 lakh and tenure up to 84 months.

View product