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| | Dena Bank | |  | |
Loan Program - Dena Vidya Laxmi Education Loan Scheme Courses approved A. For Studies in India: - School education including plus 2 stage.
- Graduation courses: BA, B.COM. B.Sc.,etc.
- Post Graduation courses: Masters and PhD.
- Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc.
- Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university.
- Courses like ICWA, CA, CFA etc
- Courses conducted by IIM, IISc, IIT, XLRI NIFT etc.
- Courses offered in India by reputed foreign universities.
- Evening courses of approved institutes.
- Other courses leading to diploma/ degree etc. conducted by colleges
Universities approved by UGC/Govt./AICTE/ AIBMS/ICMR etc.
- Courses offered by National Institutes and other reputed private institutions. (Banks may have the system of appraising other institution courses depending on future prospects/recognition by user institutions.)
B. For Studies 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.
Eligibility:
The student should be: - An Indian National.
- Have secured admission to professional/ technical courses through Entrance Test /Selection process.
- Secured admission to foreign university/Institutions.
Amount of loan:
Need based finance subject to repaying capacity of the parents/students with margin and the following ceilings. - Studies in India - Maximum Rs.7.50 lacs.
- Studies abroad - Maximum Rs.15 lacs.
Margin:
in India - Upto Rs. 4 lacs : Nil
- Above Rs. 4 lacs : Studies in India : 5%, Studies Abroad: 15%
- Scholarship/assistantship to be included in margin.
- Margin may be brought in on year-to-year basis as and when disbursements are made on a pro-rata basis.Rate of Interest: - Upto Rs.4 lacs: PLR
- Above Rs.4 lacs: PLR + 1%
Period of loan:
Repayment holiday/ Moratorium: Course period + 1 year or 6 months after getting job, whichever is earlier.
The loan is to be repaid in 5-7 years after beginning of pay back period. If the student is unable to complete the course within the planned time frame, addition of time for completion of course may be allowed for a maximum of 2 years. If the student is unable to finish the course for reasons beyond his control, Sanctioning Authority may, at his discretion, reflect on such extensions as may be deemed essential to finish the course. - The accrued interest during the repayment holiday period to be added to the principal and repayment in Equated Monthly Installments (EMI) is fixed.
- 1% interest concession may be provided for loaners if interest is serviced during the study period when repayment holiday is specified for Interest/repayment under the scheme.
Processing Charges: The bank charges no processing/upfront charges.
For more details, please visit the official website of Dena Bank at denabank
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