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Dena Bank Vidya Laxmi Education Loan is the Government interest subsidy scheme for students of Economically Weaker Sections (EWS).
a) For Studies in India
b) Studies abroad:
Coverage of expenses
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:
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:
List of “A” rated Educational Institutions is available on IBA site. www.iba.org.in
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 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.
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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.
TagsStudy Abroad Loan , Dena Bank Loans
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