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Education Bank Loan in India : Development Credit Bank Limited


On this page, we have tried to provide all the information on educational loan provided by Development Credit Bank Limited. However, if you encounter any discrepancy in the information about Development Credit Bank Study Loan, do write to us. We welcome any kind of feedback that would improve the quality of the site, a site that strives to provide the best information on educational loan provided by Development Credit Bank Limited.

Eligibility


Student:

Students or individuals must have nationality Indian and they take a secured admission to the particular courses or universities in India as well as abroad. Secured admission means it is taken through the entrance test or any selection process.

Courses:

  • Studies in the India:
    • Professional courses from the supposed institutes.
    • Post graduation from standard universities
    • All the courses accomplished by IIT, IIM, IISc, NIFT, XLRI, etc.
  • Studies in abroad:
    • All the courses conducted by CPA -USA, CIMA - London, etc.,
    • Courses conducted in Universities and admission for that taken through GMAT, TOEFL,SAT, GRE exams
Finance will be given for only one course at a time.


Details of Loan


Coverage of the expenses:

  • Tuition fees and other fees
  • Cost of maintenance, uniforms, equipments and books, etc.
  • Building fund, caution fund, or refundable deposit
  • Passage money or travel expenses for the student studies abroad.
  • Other materials required for completion of course such as project work, study tours, thesis etc.

Quantum:

  • Studies in the India:
    • The minimum loan amount is Rs. 25,000
    • The maximum loan amount is Rs. 7.50 lakh
  • Studies in abroad:
    • The minimum loan amount is Rs. 1.0 lakhs
    • The maximum loan amount is Rs. 15.0 lakh

Margin:

  • No margin for the amount up to Rs. 4.0 Lakh.
  • The margin is 5 percent on the amount greater than Rs.4.0 lakh to studies in India
  • Margin is 15 percent for studies abroad.

Security:

  • No security or collateral is needed up to Rs. 4 lakh.
  • Collateral security in form of guarantee of third party is required in case when loan amount is above Rs.4 lakh & up to Rs.7.5 lakh.
  • For the loan amount above Rs.7.5 lakh, collateral security up to the100 percent of the loan or guarantee of third party with the task of student's future income. This student's income is required for the installment payment.

Collateral may be:

  • Land, government, building, securities, public sector bonds, units of KVP, NSC, LIC policy, debentures, shares, bank deposit in the name of parents, student, guardian or other third party for 100 percent of loan.
  • If loan is given for purchasing computer then same be hypothecated to Bank


Disbursement


Repayment period is 5 year after initiating the repaid for the students in India and for those studies abroad, the period is 3 years.

Holyday period is enjoyed by the borrower but moratorium period should not exceed above six months after completion of the course.

The borrower makes repayment in moratorium period on the monthly basis.


Details & Contact


Head Office
Hansalaya Building,
Barakhamba Road,
Connaught Place,
New Delhi 110001
Phone - (011) 2335 0077
Website - http://www.dcbl.com/



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