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Canara Pradhan Mantri Vidyalaxmi Education Loan

Education loan for degree, diploma and integrated courses at Ministry of Education quality institutions, with no collateral and income-based interest subvention.

Interest rateProduct page headline: 6.75% p.a. Current retail table: 7.25% (AAA), 8.00% (AA) and 8.25% (A); reconfirm the applicable rate.Maximum amountNeed-based finance; no universal rupee ceiling is published on the reviewed scheme page.TenureUp to 15 years excluding moratorium of course duration plus one year.
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Quick eligibility check

Canara Pradhan Mantri Vidyalaxmi Education Loan

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: Family income up to ₹4.5 lakh qualifies for full moratorium interest subvention up to ₹10 lakh?

Published source: Minimum income

2Do you meet this requirement: ₹4.5 lakh–₹8 lakh qualifies for 3% subvention?

Published source: Minimum income

3Do you meet this requirement: Indian national or / pursuing education in India?

4Do you meet this requirement: open competitive or merit-based admission to listed QHEI?

5Can you provide the required document: Application, , /Aadhaar, academic and admission records, cost schedule, state-authority income certificate?

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

India; subject to Canara Bank eligibility and appraisal

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 typeNeed-based education loan for graduation, post-graduation, degree, diploma and integrated courses at listed Quality Higher Educational Institutions.View source
The reviewed official page was read through its purpose, eligibility, amount, margin, security, repayment and charge sections.
Source
Canara Pradhan Mantri Vidyalaxmi Education Loan
Page / section
Complete official product page
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
Interest rateProduct page headline: 6.75% p.a. Current retail table: 7.25% (AAA), 8.00% (AA) and 8.25% (A); reconfirm the applicable rate.View source
The reviewed official page was read through its purpose, eligibility, amount, margin, security, repayment and charge sections.
Source
Canara Pradhan Mantri Vidyalaxmi Education Loan
Page / section
Complete official product page
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
BenchmarkCurrent retail table uses RLLR 8.00% with institution-category adjustments; product page separately advertises 6.75% p.a.View source
The reviewed official page was read through its purpose, eligibility, amount, margin, security, repayment and charge sections.
Source
Canara Pradhan Mantri Vidyalaxmi Education Loan
Page / section
Complete official product page
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
APRNot published as a separate APR.View source
The reviewed official page was read through its purpose, eligibility, amount, margin, security, repayment and charge sections.
Source
Canara Pradhan Mantri Vidyalaxmi Education Loan
Page / section
Complete official product page
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
Minimum incomeFamily income up to ₹4.5 lakh qualifies for full moratorium interest subvention up to ₹10 lakh; ₹4.5 lakh–₹8 lakh qualifies for 3% subvention. No minimum income is published.View source
The reviewed official page was read through its purpose, eligibility, amount, margin, security, repayment and charge sections.
Source
Canara Pradhan Mantri Vidyalaxmi Education Loan
Page / section
Complete official product page
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
Maximum amountNeed-based finance; no universal rupee ceiling is published on the reviewed scheme page.View source
The reviewed official page was read through its purpose, eligibility, amount, margin, security, repayment and charge sections.
Source
Canara Pradhan Mantri Vidyalaxmi Education Loan
Page / section
Complete official product page
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
TenureUp to 15 years excluding moratorium of course duration plus one year.View source
The reviewed official page was read through its purpose, eligibility, amount, margin, security, repayment and charge sections.
Source
Canara Pradhan Mantri Vidyalaxmi Education Loan
Page / section
Complete official product page
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
Processing feeNil processing charges.View source
The reviewed official page was read through its purpose, eligibility, amount, margin, security, repayment and charge sections.
Source
Canara Pradhan Mantri Vidyalaxmi Education Loan
Page / section
Complete official product page
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
Prepayment / foreclosureNo prepayment penalty during repayment.View source
The reviewed official page was read through its purpose, eligibility, amount, margin, security, repayment and charge sections.
Source
Canara Pradhan Mantri Vidyalaxmi Education Loan
Page / section
Complete official product page
Accessed
30 Aug 2026
Confidence
high
Open official source ↗

Benefits and features

  • Headline page rate 6.75% p.a.; linked table is institution/risk based
  • Nil processing charges
  • No collateral security
  • Full subvention up to ₹10 lakh for family income up to ₹4.5 lakh
  • 3% subvention up to ₹10 lakh for family income ₹4.5–₹8 lakh
  • Up to 15 years after course-plus-one-year moratorium
  • Life insurance mandatory above ₹7.50 lakh

Eligibility

  • Indian national or / pursuing education in India; open competitive or merit-based admission to listed QHEI.

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

Documents the bank lists

  • Application, , /Aadhaar, academic and admission records, cost schedule, state-authority income certificate

Related official documents

Canara Pradhan Mantri Vidyalaxmi Education Loanofficial-product-page · current · accessed 30 Aug 2026
↗
Canara current retail lending ratesofficial-rate-table · current · accessed 30 Aug 2026
↗

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Loan repayment estimate

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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.

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Canara Krishi Mitra Card · Eligibility / purposeCultivator must not be a defaulter; only one person per family may receive finance.

This value is copied from Canara newly catalogued loan schemes. Check the table notes before relying on it.

Source: Canara loan catalogue and linked official product pages · Home, education, personal, mortgage, agriculture and solar loan sections Open official source ↗

Published tables

Complete rates, limits and schedules

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

Table 1 · 11 rows · 4 columnsCanara newly catalogued loan schemesNamed schemes absent from the previous canonical catalogue, transcribed from current official pages and linked retail rate tables.View tableHide table

Scroll sideways to view every column

Canara newly catalogued loan schemes
ProductEligibility / purposeAmount / rateRepayment / charges
Canara Krishi Mitra CardCultivator must not be a defaulter; only one person per family may receive finance.Crop cultivation, post-harvest, household and consumption needs; Farm-asset repairs and crop insurance; Maximum ₹50,000 running limitNil margin and crop hypothecation; 12-month running-limit validity
Canara Self Help Group FinanceGroup must be genuine, maintain records, show savings/credit activity and avoid local-authority interference.Group active for at least six months; Six months of savings and credit activity; Democratic working and proper recordsProductive borrowing and repayment culture
Canara Fisheries LoanExperienced fishermen with trained crew, suitable harbour, transport, servicing and cold-storage facilities; local applicants ordinarily within 25–30 km of branch.Mechanized and non-mechanized boats, catamarans, nets and equipment; Inland fish and shrimp culture, ponds, fingerlings, feed and labour; 4–7 years for non-mechanized boats; 8–12 years for mechanized boatsUp to 4-month off-season holiday; 15%–25% margin above ₹2 lakh; 25%–33% for deep-sea vessels
Canara Hi-Tech Agriculture LoanPromoters provide qualifications, experience and three years of tax/financial records; technical staff, capital certification, shareholding and required clearances are assessed.Tissue culture and hybrid seed production; Floriculture, mushroom and shrimp aquaculture; Bio-fertilisers, integrated poultry and fruit/vegetable processingAutomation, high productivity and value-added technology
Canara Bee Keeping (Apiculture) LoanApplicant should have apiculture experience or knowledge; local crops must provide flowers through the year and permit bee migration.Nil margin up to ₹2 lakh; 15%–25% margin above ₹2 lakh; Hypothecation up to ₹2 lakh; land mortgage above ₹2 lakh3–4-year repayment in annual instalments; Initial holiday period of 1 year; cover required for eligible allied-activity loans up to ₹10 lakh
Canara Pradhan Mantri Awas Yojana income up to ₹3 lakh; above ₹3 lakh to ₹6 lakh; above ₹6 lakh to ₹9 lakh. Beneficiary age 21–75 and family must have no pucca house anywhere in India.Purchase or construct in urban/metro areas; ₹1.80 lakh subsidy for eligible tenure above 5 years; Lower of 4× income, 90% project cost or ₹25 lakhHouse value up to ₹35 lakh; Processing charges waived; Compulsory property insurance
Canara IBA Model Education LoanStudent must be Indian national or with valid Indian passport and proof of admission; parent/guardian joins as borrower.No collateral up to ₹7.50 lakh under eligible merit route; 5% margin in India and 15% abroad above ₹4 lakh; Up to 15 years after course-plus-one-year moratoriumNo prepayment penalty; Course, hostel, travel, books, computer and insurance expenses considered
Canara Pradhan Mantri Vidyalaxmi Education LoanIndian national or / pursuing education in India; open competitive or merit-based admission to listed QHEI.Headline page rate 6.75% p.a.; linked table is institution/risk based; Nil processing charges; No collateral securityFull subvention up to ₹10 lakh for family income up to ₹4.5 lakh; 3% subvention up to ₹10 lakh for family income ₹4.5–₹8 lakh; Up to 15 years after course-plus-one-year moratorium; Life insurance mandatory above ₹7.50 lakh
Canara Rainwater Harvesting LoanIndividuals constructing or modifying a house may apply; existing housing-loan borrowers may continue the residential mortgage.75% of estimated cost within published unit-cost bands; Unit costs ₹57,700–₹1.85 lakh by plot size; 25% margin0.50% fee, ₹1,500–₹10,000; 60 ; Pipeline, barrel and filter hypothecation; No prepayment penalty
Canara Pension Loan for Bank Ex-EmployeesRetired Canara pensioners or family pensioners; spouse co-obligation or third-party guarantee applies as specified.20 months' pension or ₹10 lakh, whichever is lower; Second mediclaim-premium loan capped at ₹90,000 and overall eligibility; Nil margin and 100% fee waiver25% net take-home after proposed ; 72 if under 65; 60 if older; Premium component repaid in 10 ; No prepayment penalty
Canara Rooftop Solar CRTS-PMSGY Above ₹2 LakhRooftop rights and latest electricity bill required; CIC score at least 680 or no-history band −1 to 99; applicants above 65 need legal-heir co-obligant below 60.₹2 lakh–₹6 lakh including subsidy; Residential on-grid PV above 3 kW to 10 kW; 20% minimum project-cost margin₹3 lakh minimum annual income; Up to 10 years or age 75; Six-month holiday case-by-case; No processing or service charges; ₹78,000 subsidy support for >3 kW–10 kW
Canara loan catalogue and linked official product pages · Home, education, personal, mortgage, agriculture and solar loan sections · accessed 30 Aug 2026Open official source ↗

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