Dena Bank Indian and Foreign Education Loan

21 Mar, 2016

Dena Bank Indian and Foreign Education Loan – Dena Bank was established in 1938 by the family of Devkaran Nanjee. The bank was state-owned by the government of India in 1969. Nowadays, it is a main public sector bank in India with over 1,400 branches spread across the country. The bank bids services across different sectors such as personal banking, corporate banking, SME banking, international banking etc. Dena Bank bids a diversity of loans to people in need of financial assistance, including education loans. Dena Bank Education Loan can ensure that you have a bright upcoming by offering the financial assistance wanted to pursue higher education courses in India or abroad.

Features and Benefits of Dena Bank Education Loan

Objective of the loan:

The impartial of the Dena Vidya Laxmi Educational Loan Scheme is to aid students who come from low income families to pursue higher studies in India or abroad.

Expenses Considered for Dena Bank Education Loan

The expenditures covered by the loan include:

  • Hostel fees, school or college fees.
  • Examination, laboratory, or library fees.
  • Money spent on purchasing books, uniforms, computers, instruments and equipment.
  • Travel expenses or passage fare.
  • Expenses involving study tours, thesis writing, projects etc.

Amount of Education Loan

The maximum loan amount accessible is Rs.10 lakhs for studying in India and Rs.20 lakhs for studying in foreign countries.

Interest Rates

The interest rates for Dena Bank Education Loan are as follows:

Loan amounts of Rs 4 lakhs or below 11.80% p.a. (to be repaid within 3 years)
Loan amounts above Rs 4 lakhs 11.80% p.a. (to be repaid within 3 years)

During the moratorium period only simple interest is charged on the loan amount. The candidates get a concession of 1% on the interest rate when the disbursements for the interest charged are made on time, during the repayment holiday period.

For the following institutions, the actual rate applicable is the base rate. The base rate changes from time to time, depending on RBI’s guidelines. Currently the base rate is 10.25% and so the interest rate for these institutions is also 10.25%.

In India

IITs, BITS, NITs, IISc, MIT (Engineering)

IIMs, XLRI Jamshedpur, ISB Hyderabad, JBIMS Mumbai and NMIMS Mumbai (Management)

CMC Vellore, PGIMER Chandigarh, AIIMS New Delhi, Dr. Ram Manohar Lohia Hospital New Delhi, VMM College & Hospital Safdarganj, Armed Forces Medical Sciences (Medical Science)

IIFT New Delhi, Delhi School of Economics and NID Ahmedabad.


Universities of Cambridge, UK; University of Oxford, Imperial College London, UCL in UK, University of Toronto, University of Edinburgh, McGill University, Harvard University, MIT, Yale University, Upenn, USA, University of Chicago, Columbia University; Stanford University, Caltech in USA, Princeton University, Cornell University, University of Michigan, Duke University Johns Hopkins University, Northwestern University, UCB, ETH Zurich, University of Tokyo and HKU in Hong Kong.

The candidates do not have to provide collateral security or pay any margin for the above institutes, irrespective of the loan amount.

Processing Fees

The bank does not charge any processing fee for seeking education in India but for seeking education abroad, there is a processing fee of Rs 1000 (refundable).

 Repayment Tenure

For loan amounts of up to Rs 7.50 lakhs Maximum 10 years
For loan amounts above Rs 7.50 lakhs Maximum 15 years

The moratorium period is 6 months from the time of getting employed or the duration of the course plus 1 year (whichever is earlier).



For loan amounts up to Rs 4 lakhs No margin
For loan amounts above Rs 4 lakhs 5% for courses in India and 15% for courses abroad

Dena Bank Education Loan Eligible Courses

The qualified courses for Dena Bank Education Loan are as follows:

Graduation, Post-Graduation, Masters, Professional and PHD courses, along with vocational training and education programmes (in India).

Job oriented technical or professional graduation courses and post-graduation courses like MS, MBA, MCA etc. that are offered by renowned universities abroad.

Courses that are conducted by CPA-USA, CIMA-London etc.

Dena Bank Education Loan Eligibility and Documentation

The eligibility norms for Dena Bank Education Loans are as follows:

  • The student should be a citizen of India.
  • The student should have been designated for a technical or professional course in a documented college / institution / university in India or abroad.

The brochures required for applying for Dena Bank Education Loan are as follows:

  • Proof of Identity
  • Admission letter of college, institute or university (in India or abroad)
  • Brochure detailing the course fee charged by the institute
  • Application form.


    Please enter your comment!
    Please enter your name here