Dena Vidya Laxmi Educational Loan Scheme

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Dena Bank Vidya Laxmi Education Loan is the Government interest subsidy scheme for students of Economically Weaker Sections (EWS).

Eligibility :

Student

Student should be an Indian national and and have secured admission to a higher education course in recognized institutions in India or Abroad
Simply walk in with the marksheet of the qualifying exam and proof of admission.

Courses

a) For Studies in India

Graduation courses
Post-Graduation courses
Masters & PhD
Professional courses

b) Studies abroad:

Graduation : For job oriented professional / technical courses offered by reputed universities
Post Graduation : MCA, MBA, MS etc.
Courses conducted by CIMA-London, CPA in USA etc.

Loan Details

Coverage of expenses

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.

Quantum

For students admitted to full time courses conducted by IIT / IIM /ISB only: Full course fee without any upper loan ceiling, subject to margin may be financed.

For Students admitted to Full time courses conducted by “A” rated Institutions and Bank’s approved Educational Institutions: Need based finance to meet the expenses to be worked out taking in to account margins stipulated subject to the following ceilings:

Studies in India - Maximum up to Rs 15 lakhs
Studies in Abroad - Maximum up to Rs 25 lakhs

For Students admitted to Full time courses conducted by other institutions (Other than IIT / IIM / ISB / “A” rated Institutions and Bank’s approved Educational Institutions) : Need based finance to meet the expenses to be worked out taking in to account margins stipulated subject to the following ceilings:

Studies in India - Maximum up to Rs 10 lakhs
Studies Abroad - Maximum up to Rs 20 lakhs

List of “A” rated Educational Institutions is available on IBA site. www.iba.org.in

Margin

Upto Rs.4 lakhs - Nil
Above Rs.4 lakhs
- Studies in India 5%
- Studies abroad 15%

Rate of Interest

For interest rate check out this link, Dena Bank Interest Rate

The rates are subject to revision from time to time without notice.
1% interest concession if interest is serviced as and when due during the study period when repayment holiday is specified.
Simple interest to be charged during moratorium period

Processing Fees - Rs. 1000/- for studies abroad which is refundable on availing the limit.

Repayment

Repayment Holiday / Moratorium Course period + 1 year.

Repayment period maximum up to 15 years for all loans.

All loans up to Rs.7.50 lacs are covered under Credit Guarantee Scheme managed and operated by National Credit Guarantee Trust Company Ltd (NCGTC).

All other terms and conditions as applicable to Revised IBA Model Educational Loan Scheme for pursuing higher education in India & abroad will be applicable for this scheme also.

Contact Details

Dena Bank
Corporate Centre, C-10, G Block, 6th Floor,
Bandra Kurla Complex, Bandra (E), Mumbai-400 051
Telephone No. : 022-26545607
Fax No. : 022-26545605
E-mail : Contact Now
Website : visit

Click here for the nearest bank branches

Note : Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.

Tags

Study Abroad Loan , Dena Bank Loans

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