Dena Vidya Laxmi Educational Loan Scheme
 

Purpose
	For study in India and abroad.
Who is eligible
	Students who are Indian nationals having secured admission to professional / technical courses through selection test / Entrance test in India or Foreign Universities / Institutions.
Courses eligible
A.	Studies in India
		School education including plus 2 stage
		Graduation courses
		Post Graduation courses
		Masters & Ph. D.
		Professional courses such as Engineering, Medical, Agriculture, Veterinary, Law, Dental, Managment, Computer etc.
		Computer certificate courses of reputed institutes accredited to the Dept. of Electronics (DOE) 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 college / universities by UGC / Govt. / AICTE / AIBMS / ICMR etc.
		Courses offered by National Institutes and other reputed Institutions.
B.	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.
Quantum of Finance
	For studies in India: Maximum Rs.7.50 lacs
	For studies abroad : Maximum Rs.15 lacs
Expenses considered for loan
	Fee payable to Colleges / School / Hostel.
	Examination / Library / Laboratory fees.
	Purchase of books, equipments, instruments & uniforms.
	Caution deposits, building fund, refundable deposits supported by Institution Bills / Receipts.
	Travel expenses / passage money for studies abroad.
	Purchase of computers essential for completion of course.
	Any other expenses to complete the course like study tour, project work, thesis etc.
Nature of loan
	Term Loan
Margin
	Upto Rs.4 lacs : NIL (for study in India & abroad)
	Above Rs.4 lacs: 5% for study in India & 15% for study abroad.
Rate of Interest
	Upto Rs.4 lacs : BPLR (at present 11%).
	Above Rs.4 lacs : BPLR + 1%
	»	If loan is for a tenor of more than 3 years, tenor premium of 0.25% (i.e. 25 basis points) is added to BPLR.
	»	1% interest concession may be provided for loanees if interest is serviced during the study period.Penal interest: 2% to be charged for above Rs.2 lacs for overdue amounts & overdue period.
Upfront / Process fees
	NIL

Security
	Upto Rs.4 lacs	No collateral security
	Above Rs. 4 lacs	Collateral security of suitable value or co-obligation of parents / guardian / 3rd party guarantee along with the assignment of future income of the student for the payment of instalments may be obtained. Security can be in the form of land, building, Govt. security, NSC, KVP, LIC, Public Sector Bonds, UTI, Gold, Share / debenture, Bank deposits in the name of the student / parents / guardians / 3rd party with suitable margin.In case the loan is given for purchase of computers, the same to be hypothecated to Bank.
Moratorium
	Course period + 1 year OR 6 months after getting job, whichever is earlier.
Repayment period
	5-7 years after start of repayment.The repayment of the loan can also be done in graded instalments. As and when salary of the loanee increases, the loan instalment can also be increased accordingly. Accrued interest during the repayment holiday period is added to the principle and repayment EMI is fixed.
Mode of disbursement
	Loan is disbursed in stages as per the genuine requirements/demands directly by way of PO/DD to Institutes, vendors of Book/ equipment's/ instrument.

Important
Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.

Head Office
Maker Towers E, 10th Floor
Cuffe Parade, Mumbai - 400 005
Gen: 022-2189151-55/9251-55, Fax: 022-218 9046(D)/215 5383
E-Mail: dena@giasbom01.vsnl.net.in
Website: www.denabank.com