What loans are available to study in Canada?

You can apply for loans to study in Canada from private banks, co-operative banks, nationalised banks, NBFC’s, and International lenders. You can cover your cost of studying by applying for these study loans. The major factors that determine the overall cost of studying in Canada are the type of university, program duration, course type, and total cost of living. The annual average cost of living in Canada for an international student is around $12,000. Every year, almost 485,000 international students choose to migrate to Canada for study purpose.
 

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Top 5 Indian banks for educational loans to apply for studying in Canada

The following are the top banks in India where you can apply for educational loan to cover the cost of studying and living in Canada:

Banks for educational loan	Name of the Banks
Nationalised Banks	State bank of India, Bank of Baroda, Bank of India, Union Bank of India, Bank of Maharashtra
Private Banks	Axis Bank, ICICI Bank, IDFC First Bank
Co-operative Banks	Saraswat Bank
NBFC’s	HDFC Credila, Avanse, Incred, Auxilo, Credenc
International lenders	MPower Finance, Prodigy Finance

What are the eligibility criteria for the educational loan to study in Canada?

The following are the eligibility criteria for the educational loan to study in Canada:

• Passport size photographs taken recently
• Loan application form
• Documents related to academics like mark sheets, certificates, and transcripts
• Last year statements of borrowers’ bank accounts
• The course of the admission should be professional
• Must be above the age of 18 years old
• Income proof and resident of the student and the guarantor
• Letter of admission from a recognized university in Canada
• English language proficiency test scores

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What are the requirements Canada study visa?

The following are the requirements to apply for a Canada study visa:

• Proof of sufficient funds
• A letter of Acceptance by Designated Learning Institution
• English language proficiency scores
• A health insurance
• Submit the intent to leave Canada after completing studies
• A valid and original passport
• Statement of purpose
• A clean criminal record certificate

Fees of Canada study visa

International students willing to apply for Canada study visa can pay their visa fees online or offline. The visa fees of Canada are CAD 150. Students should also submit an extra biometric fees of CAD 85.
 

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