* EU ministers reject target date for bank aid phase-out

* Agree 2011 start date for EU-wide fiscal consolidation

* Preliminary agreement on bumping up bank capital

By James Mackenzie and Marcin Grajewski

BRUSSELS, Nov 10 (Reuters) - EU finance ministers agreed on Tuesday to start major efforts to narrow budget gaps in 2011 at the latest and reached preliminary agreement to boost the amount of capital banks must hold to offset risky activities.

But the ministers decided at a meeting in Brussels that it was too early to consider setting deadlines for ending bank support in the 27-country European Union.

The agreement on deficit reduction followed a similar accord on Monday among the 16 countries that use the euro in which the ministers decided not to set a date to start phasing out support for banks to help them through the economic crisis.

"It's premature now to start to talk about ending these guarantee schemes, capital injection schemes and bad asset schemes," Swedish Finance Minister Anders Borg told a news conference.