Education Loan for Canada

Among the many ways to ease finances while studying abroad, many students opt for education loans to ease their procedure.

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Check this story to go through the many education loans in Canada along with their document requirements.

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Here is a list of banks offering Education loans to study in Canada along with their interest rates:

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- SBI - 8.15% – 8.65% - HDFC Bank - 9 – 14% - Axis Bank- 11.20% – 13.20% - Punjab National Bank- 7.30% – 9.20%

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- Bank of Baroda - 8 – 10% - ICICI Bank - 7 – 11% - Canara Bank- 7 – 10% - Allahabad Bank- 7 - 11%

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The following slide contains a list of documents required for taking an educational loan:

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- Proof of admission - Loan application form. - Passport size photographs. - Income proof of the guarantor. - Academic Transcripts

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- Documents of qualifying tests (GMAT, GRE, IELTS). - Resident proof of the student and the guarantor. - Bank Statements

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After finishing school, there is a 6-month non-repayment period. No interest is put on your loan during this time. When this period is over you have to start making payments on your Canada Student Loan.

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The 6-month non-repayment period starts after you finish your final school term, reduce from full-time to part-time studies, or leave school or take time off school.

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Click here to know more about education loan for Canada

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