Dena Bank offers educational loans to meritorious students who aspire for the best of higher education in India and abroad. The education loan offered by this bank is also known as the Dena Vidya Laxmi educational loan. Dena Bank was established by the family of Devkaran Nanjee on 26th May, 1938. The bank aims at providing premier financial services to its customers. It was nationalized in the year 1969 along with thirteen other banks in India.
Candidates who have applied for Dena Bank education loan need to meet certain eligibility criteria.
- Applicants who get admission to a professional or technical course in an Indian or foreign university are eligible to apply. They should also be Indian Nationals.
- Mark sheet of the qualifying examination and admission proof are the two documents required for application.
Courses Eligible for Dena Bank Student Loan
There are various courses, which are considered eligible for Dena Bank education loans in India.
Studies in India-
Student loans from Dena Bank are available for candidates willing to join various graduation, post graduation, masters, Ph.D and professional courses.
Various job oriented graduation and post graduation courses are eligible for the education loan offered by Dena Bank.
Quantum of Loan
The maximum amount of education loan offered is Rs.10 lacs (Studies in India) and Rs. 20 lacs (Studies in Abroad) respectively.
Expenses Covered by Vidya Laxmi Educational Loan
Vidya Laxmi loan scheme covers the fees paid for school and hostel charges. It also includes the cost of purchasing books, uniforms, equipments, instruments, computer and other necessary things. The passage fare for students traveling abroad is also covered by the Dena Bank education Loan.
For education loans above Rs. 4lacs, 5% and 15% are the margins stated for studies in India and abroad respectively.
Repayment of Dena Dank Loan for Education
Candidates are given a time period of five to seven years to repay the loan. The repayment starts either one year after the completion of the course or six month after the candidate gets employed