Canara Bank Vidya Turant Education Loan
Canara Bank's Vidya Turant scheme provides education loans up to ₹50 lakh with floating rates from 7.35% p.a. based on institution category. Covers domestic and international studies with multiple specialised schemes for different student profiles.
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Canara Bank Vidya Turant Education Loan
Updated 1 month agoAPR Range
7.25–10.1%
Amount
₹100k
Term
12–180 months
Type
student
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Our Verdict
Canara Bank's Vidya Turant is a standout PSU education loan — the 7.35% starting rate is competitive, and the ₹1 crore limit under the master's degree scheme matches the best in the industry. The scheme categorisation by institution type gives genuine rate advantages to premier institute students.
Best For
Students pursuing master's degrees at top-ranked global universities or premier Indian institutes who want PSU rates with competitive terms.
Watch Out
The floating vs fixed rate spread is wide (7.35% vs 8.00%). Processing fees apply for collateral coverage under 100% (up to ₹20,000). Multiple scheme names (Vidya Turant, Vidya Sagar, Vidya Shakthi) can be confusing.
Pros
- Competitive floating rates from 7.35% p.a.
- Up to ₹1 crore for master's at top global universities
- Multiple schemes for different student profiles
- Covers living costs and travel for overseas study
- No prepayment penalty
Cons
- Multiple confusing scheme structures
- Processing fees for lower collateral coverage
- Fixed rate option less competitive (8%+ p.a.)
- 10% margin required for master's degree scheme
Summary
Canara Bank offers education loans across multiple schemes with rates from 7.25%-10.10% p.a., amounts up to ₹1 crore for master's degrees, and repayment up to 15 years. Covers tuition, living costs, and travel.
About This Loan
Requirements
- Indian national
- Admission to recognised institution
- Parent/guardian as co-borrower
- Collateral for Vidya Sagar scheme (above ₹7.5 lakh)
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