Development Credit Bank Limited Education Loan

About 78 years ago Development Credit Bank was born later on May 31, 1995 in the wake of India’s economic liberalization it was converted into Scheduled commercial bank. Mr. Gautam Vir is the CEO and Managing Director of the DCB and he is supported by a board of directors to manage all the operations of the bank. DCB has about 18,000 ATM's spread all over the country. Till 31st March 2007, DCB's deposit was Rs.4415.20 crores and the advances were over Rs. 2658 crores. It has a wide network of about 72 regional branches in states like Karnataka, New Delhi, Goa, Tamil Nadu, Haryana, West Bengal, Maharashtra, Gujarat, Andhra Pradesh, and in the two union territories of Dadra & Nagar Haveli and Daman & Diu. In the form of financial assistant educational loan is offered by the Development Credit Bank to undergo higher studies either in India or abroad.

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.

• Professional courses from the supposed institutes.
• Post graduation from standard universities
• All the courses accomplished by IIT, IIM, IISc, NIFT, XLRI, etc.

• 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.

• 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 Education abroad.
• Other materials required for completion of course such as project work, study tours, thesis etc.

• The minimum loan amount is Rs. 25,000
• The maximum loan amount is Rs. 7.50 lakh

• The minimum loan amount is Rs. 1.00 lakh
• The maximum loan amount is Rs. 15.0 lakh

• 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 Education in India
• Margin is 15 percent for Education abroad.

• 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.

• 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

Repayment period is 5 year after initiating the repaid for the students in India and for those studying 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.

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

Note:

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.