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 typeCollateral-free education loan for higher studies at premier Indian institutions mapped to Canara Vidya Turant; eligible expenses include tuition, hostel, examination, books, equipment and other course costs.View source
The official page and define the mapped-institution scheme and covered expenses.
- Source
- Canara Vidya Turant
- Page / section
- Purpose; Expenses considered;
- Accessed
- 30 Aug 2026
- Confidence
- high
Interest rateStarts at 6.85% p.a., subject to terms and the applicable student/
Canara publishes a starting rate of 6.85% p.a. with terms applying.
- Source
- Canara Vidya Turant
- Page / section
- Rate of Interest;
- Accessed
- 30 Aug 2026
- Confidence
- high
BenchmarkNot published on the reviewed Vidya Turant page; the page provides a starting rate but no benchmark or spread.View source
No benchmark is stated alongside the 6.85% starting rate.
- Source
- Canara Vidya Turant
- Page / section
- Complete page
- Accessed
- 30 Aug 2026
- Confidence
- high
APRNot published as a separate APR.View source
The official page publishes the interest rate but no calculation.
- Source
- Canara Vidya Turant
- Page / section
- Complete page
- Accessed
- 30 Aug 2026
- Confidence
- high
Minimum incomeNo minimum income amount is published for the student; admission, Indian nationality, academic qualification and co-borrower/guardian documentation determine eligibility.View source
Canara lists student and admission conditions, not a minimum salary threshold.
- Source
- Canara Vidya Turant
- Page / section
- Eligibility;
- Accessed
- 30 Aug 2026
- Confidence
- high
Maximum amountCategory A institutions: up to ₹50 lakh; Category B: up to ₹40 lakh; Category C: up to ₹30 lakh. The mapped-institution category controls the limit.View source
The official page and publish ₹50/40/ 30 lakh limits for categories A/ B/ C.
- Source
- Canara Vidya Turant
- Page / section
- Loan Quantum;
- Accessed
- 30 Aug 2026
- Confidence
- high
TenureRepayment up to 15 years excluding the moratorium period, normally course duration plus one year.View source
Canara publishes up to 15 years after the course-plus-one-year moratorium.
- Source
- Canara Vidya Turant
- Page / section
- Repayment tenure;
- Accessed
- 30 Aug 2026
- Confidence
- high
Processing feeNil processing charge under the scheme. Applications through the PM-Vidyalaxmi portal may attract a portal fee of ₹200 plus GST.View source
The distinguishes nil bank processing charges from the possible -Vidyalaxmi portal fee.
- Source
- Canara Vidya Turant
- Page / section
- Processing charges;
- Accessed
- 30 Aug 2026
- Confidence
- high
Prepayment / foreclosureNo prepayment penalty during the repayment period.View source
Canara states that there is no prepayment penalty.
- Source
- Canara Vidya Turant
- Page / section
- Benefits; — prepayment
- Accessed
- 30 Aug 2026
- Confidence
- high
Benefits and features
- Starting interest rate 6.85% p.a. subject to terms
- Category A/
B/ C limits up to ₹50 lakh/ ₹40 lakh/ ₹30 lakh - No collateral or guarantor security under the scheme
- Nil processing charge; -Vidyalaxmi portal fee may apply
- Repayment up to 15 years after moratorium
- No prepayment penalty
Eligibility
- Student must be an Indian national, clear the previous qualifying examination and secure admission through the competent authority in an institution mapped to the scheme. Loans may qualify for subject to government criteria.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- Admission/offer letter and course fee schedule
- Academic records and last qualifying mark sheet
- , age proof, /Aadhaar and residence proof
- Income/assets and co-borrower documents where applicable
Related official documents
Canara retail lending and loan interest ratesofficial-rate-table · current · accessed 30 Aug 2026
↗Canara Vidya Turantofficial-product-page · current · accessed 30 Aug 2026
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