Development Credit Bank

Development Credit Bank’s Educational Loan

Objective of the Scheme:

Development Credit Bank provides Educational Loans for providing financial support to deserving / meritorious students for pursuing higher education in India and abroad.

Eligibility of the Student:

Individuals of Indian Nationality who have secured admission to recognized courses / universities in India or Abroad through entrance test / selection process

Studies in India:

  • Post graduation courses from recognised universities
  • Professional courses from reputed institutes:.
  • Courses conducted by IIM, IIT, IISc, XLRI, NIFT, etc.

Studies over a Wide Area :

  • 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

Liability of Finance :

Expenses allotted for the Loan :

  • 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.

Quantum of Finance:

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

Margin :

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

Moratorium :

The holiday period enjoyed by the borrower towards repayment of the loan. Moratorium period shall not exceed course duration + 6 months

Processing Fee / Mortgage Charges: NIL

Rate of Interest: Fixed

Repayment Period of the Loan:

The borrower has to repay the interest accrued during the moratorium period on a monthly basis through the Post Dated cheques, Standing Instructions, if the customer has bank account with DCB

For more Details, Kindly refer the following link :

http://www.dcbbank.com/disclosures/educational_loan.html

 

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