Families banking with Bank of India
Families banking with Bank of India
Public sector bank · 🇨🇦 Canada
Bank of India Education Loan for Canada
How Bank of India's education loan works for Indian students heading to Canada — limits, collateral, rates and what a typical Canada loan costs to repay.
- Up to ₹150 lakh for studies abroad under Star Education Loan
- Indicative ≈ 8.5%–10.5% a year in 2026
- Example: ₹58 lakh for Canada
- We compare 2–3 lenders
Talk to an expert
Compare Bank of India with 2 more lenders
A counsellor replies on WhatsApp with your checklist and next steps
Quick answer
Is Bank of India a good choice for an education loan for Canada?
Public-bank pricing for secured loans. Bank of India lends for Canada: up to ₹150 lakh for studies abroad under Star Education Loan, as published by the bank. A typical Canada master's on our data (Dalhousie, ₹65 lakh – ₹80 lakh) needs about ₹58 lakh; at 10.5% over 10 years the EMI is about ₹78,262 a month.
Ask on WhatsAppUpdated · Reviewed by the Visa Edu Loans admissions & finance desk
Official sources: Bank of India — Star Education Loan (Study Abroad)
Bank of India for Canada
- Loan amount
- Up to ₹150 lakh for studies abroad under Star Education Loan, as published by the bank
- Without collateral
- Limited collateral-free amounts under the model scheme
- Collateral
- Property or other tangible security acceptable to the bank
- Co-applicant
- Parent or guardian as co-borrower
- Interest rate
- Indicative ≈ 8.5%–10.5% a year in 2026 (floating); check the bank's current rate
- Repayment
- EMIs over up to 15 years after the moratorium
- Processing
- Usually 2–4 weeks with collateral
Official terms
What Bank of India publishes
Quoted from Bank of India's own website, checked on 9 November 2026. Lenders revise these often; your sanction letter is final.
Official source: Bank of India — Star Education Loan (Study Abroad) — rules change; always confirm current requirements.
Repayment
EMI on a ₹58 lakh loan for Canada
Fit
When Bank of India suits a Canada plan
Secured loans for mid-cost destinations
Secured loans for mid-cost destinations
Watch out
Collateral-free amounts are small
- Get the sanction letter before applying for the Canada study permit
- Make sure the sanction covers the funds the visa requires
- Tuition is paid to the university; living costs to your account
- Keep the disbursement schedule aligned with your intake
FAQs
Frequently asked questions
Still have a question?
Ask a counsellor directly — we reply on WhatsApp during working hours (Mon–Sat, 9 AM–6 PM IST).
Up to ₹150 lakh for studies abroad under Star Education Loan, as published by the bank
Limited collateral-free amounts under the model scheme
Indicative ≈ 8.5%–10.5% a year in 2026 (floating); check the bank's current rate. Floating, linked to the bank's repo-linked lending rate.
Explore
Keep exploring
Lenders
Other lenders for Canada
- SBI education loan for Canada
- Bank of Baroda education loan for Canada
- PNB education loan for Canada
- Canara Bank education loan for Canada
- Union Bank education loan for Canada
- HDFC Bank education loan for Canada
- ICICI Bank education loan for Canada
- Axis Bank education loan for Canada
- IDFC FIRST education loan for Canada
- Credila education loan for Canada
- Avanse education loan for Canada
- Auxilo education loan for Canada
- InCred education loan for Canada
- Tata Capital education loan for Canada
- Prodigy Finance education loan for Canada
- MPOWER education loan for Canada
Talk to an expert
Talk to a counsellor today
Share your profile — we reply with a checklist and next steps. Expert consultations over call start at ₹355.
Mon–Sat, 9 AM–6 PM IST