Dhanam Vidya Credit Scheme

Eligibility :
	Student For Studies in India - Should be an Indian National (both Minor and Major) For Studies Abroad - Indian Nationals over 18 years of age. Applicant/Student should have passed the qualifying examination securing a position eligible for admission, for the course opted for study. Courses a) For Higher studies in India Graduate and Post-graduate Degree/ Diploma Courses Courses in Computer Science/ Application Courses in Engineering discipline. Courses in Medical science, Dental science, Pharmacy Courses in Agricultural and Veterinary Sciences. Post-graduate courses in Arts, General Science, Commerce, Management. (From Recognized Colleges/ University) P.G.Diploma in Computer application. (From reputed institutes such as NIIT, APTECH, BITECH, SSI etc) b) Studies abroad: Under-graduate courses in Biological & Natural sciences, Computer sciences, Engineering. Post-graduate courses in the above Disciplines and Business Administration. (Applicant should submit a Brief report on the prospects of the course.) Duration of course The duration of the course should be not more than 5 years in case of courses in India and not more than 3 years in case of courses Abroad.
Loan Details
	Coverage of expenses  Payment of Fees (Admission and Tuition). Purchase of Books and Study material. Purchase of Equipment / Instruments Hostel fees / Boarding charges For studies Abroad - Air travel, incidental charges, Purchase of Outfit (Clothing & other equipment) will also be included. Applicant should furnish a copy of Annual Expenditure provided in the information brochure issued by the College/ University. For Studies Abroad - The applicant should produce a copy of the Result of Qualifying/ Mandatory examination such as TOEFL, SAT, GRE, AGRE, GMAT etc together with a copy of valid passport, proof of Admission to the College/ University and a copy of the Visa/ Form I-20 Security : Upto Rs. 4 lakh : No security Above Rs.4 lakh : Collateral in the form of a satisfactory guarantee Security of approved shares / insurance polices with Surrender value/ NSC/ IVP/ Bank deposits etc. And/or Collateral security of land/ Building property equivalent to loan amount. Documents Required: The applicant should furnish photocopies of all the Certificates of previous examinations. (SSC onwards) A certificate from the College/University authorities stating that the student is continuing education, should be submitted every year. Other conditions : The Applicant/ Student should notify the bank the receipt of any form of Scholarship/Partial or Full assistance from any source, for the course of study and the same to be adjusted to the loan amount. In case the student discontinues the studies, the loan amount till then availed, must be repaid as per the original repayment schedule, without any holiday period and from the date of discontinuance of the course. The applicant student should not enter into a pecuniary obligation or financial liability during the currency of the loan. The borrower should not, without the Bank’s written prior permission, change the course of studies or the place of study or the educational institution. In case the applicant fails in a year, then the loan amount should be suspended, and resumed only after he/she passes the exam. But if the College has provision for continuing to the next academic year, even if the student has failed in a subject, then the loan amount earmarked for the subsequent year may be disbursed.
Rate of Interest
	As per bank rules
Repayment
	Repayment Holiday/Moratorium Period is duration of the course plus 6 months or getting a job, whichever is earlier.