Educational Loans for providing financial support to deserving/ meritorious students for pursuing higher education in India and abroad.
Amortizing Term Loans in equal installments post moratorium period
Individuals of Indian Nationality who have secured admission to recognized courses/universities in India or Abroad through entrance test/selection process
b) Self Employed Professionals
c) Self employed Business
a) Studies in India
b) Studies Abroad
- Post graduation courses from recognised universities
- Professional courses from reputed institutes:.
- Courses conducted by IIM, IIT, IISc, XLRI, NIFT, etc.
- Courses conducted by CIMA – London, CPA – USA, etc.,
- Courses in Universities which take admissions through TOEFL,GMAT,GRE,SAT exams
Only one course at a time will be financed
a) Studies in India
Minimum – Rs. 25,000
Maximum – Rs. 7,50,000
b) Studies abroad
Minimum – Rs. 1,00,000
Maximum – Rs. 15,00,000
All the above expense should be supported by institution bills/receipts
- Tuition and other fees
- Maintenance costs, books & equipments, uniform, etc.
- Caution fund/ building fund/ refundable deposit
- Travel expenses/passage money for studies abroad for the first time only
- Any other expense required to complete the course – like study tours, project work, thesis, etc.
Maximum 5 years after commencement of repayment for studies in India and 3 years for studies abroad
The holiday period enjoyed by the borrower towards repayment of the loan. Moratorium period shall not exceed course duration + 6 months
- a ) Upto Rs. 4 lacs - Nil
- b) Above Rs. 4 lacs
- Studies in India: 5%
- Studies abroad: 15%
Scholarship/assistantship to be included in margin
Collateral can be in the form of:
- Upto Rs. 4 lacs: no security/collateral required
- Above Rs. 4 lacs upto 7.5 lacs: Collateral in the form of a satisfactory third party guarantee.
- Above 7.5 lacs: Collateral security upto 100% of the loan amount and guarantee of an earning acquaintance of the student for 100% of the loan amount.
- Land/ building/,govt. securities/Public Sector Bonds/ Units of NSC, KVP, LIC policy, shares/ debentures, bank deposit in the name of student/ parent/ guardian or any other third party for 100% of the loan.
- In case the loan is given for purchase of computer the same to be hypothecated to the Bank
Repayment during moratorium period
he borrower has to repay the interest accrued during the moratorium period on a monthly basis.
Parent/guardian of the student borrower
Mode of repayment
- Disbursement of the loan will be made in stages as per the demand directly to the college/institution.
- Student should furnish to the bank after every semester, suitable evidence of his satisfactory progress in the course of his studies. Satisfactory performance will be a pre-requisite for availability of finance for the subsequent years. Bank will have the option to discontinue disbursement of sanctioned loan or recall it at any time if the progress of the student is not satisfactory.
- Post Dated cheques
- Standing Instructions, if the customer has bank account with DCB
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.