Dena Bank Education Loan

Dena Vidya Laxmi Educational Loan Scheme:

The Topper for your children’s Higher Education

Ensure a bright future for your children. Provide them with the best of higher education in India or abroad. Avail Dena Vidya Laxmi Educational Loan.

You are eligible if:

• You are an Indian national and have secured admission to a professional or technical course in an Indian or Foreign university.
• Simply walk in with the marksheet of the qualifying exam. and proof of admission.

Course Eligibility:

Study in India:

Graduation courses, Post-Graduation courses, Masters & PhD, Professional courses.

Study Abroad:

Graduation for professional/ technical courses offered by reputed universities; Post Graduation (MCA, MBA, MS)

Loan Amount:

• Upto Rs.10 lakhs for studies in India.
• Upto- Rs. 20 lakhs for studies abroad.

Loan takes care of :

• Fee payable to colleges/ schools/ hostels
• Examination/ Library/ Laboratory fees.
• Purchase of books, equipment, instruments and uniforms.
• Passage fare for travel abroad.
• Purchase of computers needed to complete the course.
• Any other expense to complete the course like study tours, project work, thesis etc.

Margin:

• Upto Rs. 4 lakhs- NIL for study in India and abroad.
• Above Rs. 4 lakhs- 5% for study in India and 15% for study abroad.

Rate of Interest:

• Please Check out the Interest Rates Section to find latest Interest Rates applicable.
• 1% p.a. interest concession if interest is serviced during study period.
• For loans above Rs. 4 lacs, 1% p.a. interest concession for girl students including as applicable in Dena Shakti.
• For loans above Rs. 4 lacs, 1% p.a. interest concession for IIM / IIT / ISB (Indian School of Business, Hyderabad) students.
• Total concessions for loans above Rs. 4 lacs, excluding 1% interest concession for interest payment during moratorium period shall not exceed 2% p.a.

Simple interest charged during moratorium period.

Process Fees: Rs.1000/- for studies abroad.

Repayment:

• Moratorium- Course period + 1 year or 6 months after getting a job, whichever is earlier.
• Repayment period- 5-7 years after start of repayment.

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