Dena Bank: Education Loans

Education Loan – Government interest subsidy scheme for Economically Weaker Sections (EWS)

Coverage

EWS with upper parental income of Rs.4.50 lakhs per annum.

For recognized Technical / Professional Courses in India after Class XII as approved by Ministry of Human Resources Department, Government of India.

Certification of income by Designated authority in the prescribed format.

Applicable from academic year 2009-10.

Interest Subsidy during moratorium period (Course period + 6 months / 1 year).

For further details, contact Branch Manager.

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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