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.
Students may apply online through IBA’s  “Vidyalakshami Portal”  developed by NSDL i.e. www.vidyalakshmi.co.in/student/

Click Here To Download Application Form

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