DCB Bank Education Loan

DCB Bank Education Loan

DCB Bank Education Loan Summary Table

DCB Bank Education Loan Limit For India – INR 7.5 Lakhs

For Abroad – 15 Lakhs
(Up to ₹ 7.5 lakh without collateral)

DCB Bank Education Loan Interest Rate 9.65% per annum
DCB Bank Education Loan Margin For loan above INR 4 Lakhs In India: 5%
In abroad: 15%
DCB Bank Education Loan Processing Fee Up to INR 4 Lakhs: Nil

Above INR 4 Lakhs: INR 5000

DCB Bank Education Loan Security Up to 7.50 Lakhs: Only Parent/ Guardian as co-borrower. No Collateral.

Above INR 7.50 Lakhs: security with parents as co-borrower and a collateral

DCB Bank Education Loan Repayment Starts After 1 year of course completion or 6 months after getting a job

DCB Bank Education Loan

DCB Bank Education Loan Features

The demand for advanced education from elite schools is growing which in result builds the opportunity of finding a lavishly compensated line of work. However, a college with a decent position costs a lot more because of its excellent resources and services. To defeat this, Education Loan assumes a significant part of a student’s life!
Education loans help those who have the capacity and potential. The loan can be beneficial to be used in India or even abroad studies. Whatever the case DCB Bank is there to help the students. Each student can apply for the DCB Bank education loan by following the particular rules and providing the right documentation.

DCB Bank Education Loan Eligibility

Parameters  Eligibility Criteria
Applicant’s Age
  • Non-employed personnel: Up to 35 years
  • Working employees / Executives: Up to 45 years
Who Can Apply?
  • An Indian National: With secured admission to technical courses in recognized organizations.
  • Permanent employees: Employed for not less than three years with any organization
Maximum Loan Amount
  • For studies in India: Up to Rs. 7,50,000
  • For studies Abroad: Up to Rs. 1,500,000
Frequency Of Repayment
  • Quarterly or monthly rests.
  • Starts 1 year after completing the course of six months after getting a job, whichever is first.
  • Loan interest re‐payment will start quickly after the first instalment of the loan.
Repayment Period
  • Tenure: Education Credit contains time period of Study, Grace Period after the Study, and payment Period.
  • Indian courses: Repayment tenure is a max of 12 years after the beginning of repayment.
  • For Abroad courses: Repayment tenure is a max of 12 years after the starting of repayment.

DCB Bank Education Loan Interest Rate

DCB Bank Education loan interest rate is 9.65%.

Loan Amount Range Courses in India Courses Abroad IIT, IIM, ISB Courses
Loans up to Rs. 4 lakh 10.50 %, for Girls – 10.00% 10.50 %, for Girls – 10.00% 8.85 %
Loans Rs. 4.0 – 7.5 lakh 10.50 %, for Girls – 10.00% 10.50 %, for Girls – 10.00% 8.85 % – 10.00%
Loans > Rs. 7.5 lakh 10.75 %, for Girls – 10.25% 10.75 %, for Girls – 10.25% 8.85 % – 10.00%

DCB Bank Education Loan Schemes with Detailed Features, Documents, Max Loan, Courses

Schemes Maximum Loan Amount Interest Rates
DCB Bank Student Loan Rs.20 lakh 10.05%
DCB Bank Scholar Loan Rs.40 lakh 8.95% to 9.25%
DCB Bank Global ED-Vantage Rs.1.5 crore 10.05%
DCB Bank Skill Loan Rs.1.5 lakh 9.55%
DCB Bank Take Over of Education Loan Rs.1.5 crore 10.05%

DCB Bank Education Loan Documents Required

Identity Proof
  • Aadhaar Card
  • Passport
  • PAN Card
  • Aadhaar Card
  • Voter’s ID Card
  • Driving Licence
  • Photo Credit Card
  • Central and State Govt. issued Photo ID Proof
  • Defence ID Card.
Residence Proof
  • Ration Card
  • Passport
  • Bank Account Statement
  • Voter’s ID Card
  • Letter from any recognized public authority
  • Telephone Bill
  • Electricity Bill
  • Water Bill
Income Proof in case of salaried co-borrower
  • Salary Slips
  • Bank Statements
  • ITR
  • Form-16
  • Bank account statement
Income proof for self-employed co-applicant
  • Business address proof
  • IT returns for the last two years
  • TDS certificate
  • Form 16A if applicable
  • Certificate of qualification
  • Bank account statement

Additional documents:

  Student Applicant Mandatory Passport submission
Academic Records: X, XII grade results. Graduation results semester wise. Entrance Exam results that form the basis of admission
Proof of admission: An application letter may be seen
Cost of education, schedule of expenses.
2-passport size photographs
loan account statement for the last 1 year(If the loan was taken out previously)
Co-applicant 2-passport size photographs
 loan account statement for the last 1 year(If the loan was taken out before)

DCB Bank Education Loan Offered Courses

The Education Loan covers courses that are only expected full-time Degree or Diploma programs that the student obtained through selection or merit. DCB Education Loan also rates Full-time Executive Management Courses like PGPX.

EMI Calculator

You can check the EMI for DCB education loans by clicking on EMI Calculator.

DCB Bank: Takeover of Education Loan

An Education Loan is Transferable, it is fundamentally a process of carrying high-interest debt from one to different lenders and with a cheaper interest rate and better repayment policies.

The DCB Bank Takeover Of Collateralised Education Loans Scheme can be availed at an interest charge of 1Year MCLR + 1.50% spread. DCB also gives a 0.50% concession in the interest rate for girls.

How To Apply For DCB Bank Education Loan

  • Visit Dialabank for an education loan.
  • Go to the DCB Bank Education Loan page.
  • Check out all the eligibility and documents standards for an education loan.
  • Fill out all the features required in the Education Loan application form.
  • Once done, our representative will soon reach you for a further stress-free process.

List of Approved Institutes

  • Architecture college
  • Bio-technology
  • college
  • Management college
  • Science, Commerce, and Arts college
  • Law college
  • Medical college
  • Pharmacy college
  • Engineering college
  • Physical education college
  • B.ED college

FAQs For DCB Bank Education Loan

✅ In whose name is the loan granted?

The loan is specially made for a student’s education, and therefore, it is granted in the student’s name.

✅ What is the age limit for availing of an education loan in Canara Bank?

There is no age limit restriction in education loans. However, the student must clear all the eligibility criteria’s stated by the bank.

✅ What does margin on any loan mean?

The margin amount means that a borrower has to pay from their own income sources in the form of a down payment as their contribution towards the education.

✅ Is scholarship or assistantship included in the margin?

Yes, any scholarship or assistantship will be a part of the margin charged on education loans.

✅ What does MCLR stand for?

MCLR stands for the Marginal Cost of Funds based Lending Rate. It is the minimum interest rate of the bank below which it cannot lend.