Dena Vidya Laxmi Educational Loan Scheme



Students may apply for Education Loan online through IBA’s  “Vidyalakshami Portal”  developed by NSDL i.e.
https://www.vidyalakshmi.co.in/Students/

Apply Online



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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).

  * Interest subsidy may be available for education loans availed by students belonging to notified Minority communities also having lower than a specified parental income for pursuing study abroad for Masters ,M.Phil or PhD, during their study/repayment holiday, from the Academic Year 2013-14 under our Padho Pardesh Scheme.
 
For further details, contact Branch Manager. 
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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 higher education course in recognized institutions  in India or Abroad 
• 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 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 Amount 

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 Abroad Maximum up to Rs 25 lakhs

Click here to download the List of Bank’s approved Educational Institutions.
List of  “A” rated Educational Institutions is available on IBA site.
 
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

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 computer needed to complete the course at reasonable rate.
• 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% interest concession if interest is serviced as and when due during the study period when repayment holiday is specified.

SIMPLE INTEREST CHARGED DURING MORATORIUM PERIOD.

Process 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).

OTHER TERMS & CONDITIONS :

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.

Click Here To Download Application Form

For any query / grievance, Please contact : Email:  rbd@denabank.co.in