DCB Bank Limited

DCB Bank is a modern emerging new generation private sector bank with 130 plus branches across 17 states and 2 union territories. It is a scheduled commercial bank regulated by the Reserve Bank of India. It is professionally managed and governed. DCB Bank has contemporary technology and infrastructure including state of the art internet banking for personal as well as business banking customers.

DCB Banks business segments are Retail, micro-SMEs, SMEs, mid-Corporate, Agriculture, Commodities, Government, Public Sector, Indian Banks, Co-operative Banks and Non Banking Finance Companies (NBFC). DCB Bank has approximately 450,000 customers.

DCB Bank has deep roots in India since its inception in 1930s. Its promoter and promoter group the Aga Khan Fund for Economic Development (AKFED) & Platinum Jubilee Investments Ltd. holds over 19% stake. AKFED is an international development enterprise. It is dedicated to promoting entrepreneurship and building economically sound companies.

DCB Bank  Education Loan:

Purpose:

Educational Loans for providing financial support to deserving/ meritorious students for pursuing higher education in India and abroad.

Loan type:

Amortizing Term Loans in equal installments post moratorium period

Borrower Segments:

Individuals of Indian Nationality who have secured admission to recognized courses/universities in India or Abroad through entrance test/selection process

a) Salaried

b) Self Employed Professionals

c) Self employed Business

Courses eligible:

a) Studies in India:

Post graduation courses from recognised universities

Professional courses from reputed institutes:.

Courses conducted by IIM, IIT, IISc, XLRI, NIFT, etc.

b) Studies Abroad:

Courses conducted by CIMA London, CPA USA, etc.,

Courses in Universities which take admissions through TOEFL,GMAT,GRE,SAT exams

Only one course at a time will be financed

Loan Amount:

a) Studies in India:

Minimum 

Rs. 25,000

Maximum 

Rs. 7,50,000

b) Studies abroad:

Minimum 

Rs. 1,00,000

Maximum 

Rs. 15,00,000

Expenses Considered:

Tuition and other fees

Maintenance costs, books & equipments, uniform, etc.

Caution fund/ building fund/ refundable deposit 

Travel expenses/passage money for studies abroad for the first time only

Any other expense required to complete the course like study tours, project work, thesis, etc.

All the above expense should be supported by institution bills/receipts

Tenor:

Maximum 5 years after commencement of repayment for studies in India and 3 years for studies abroad

Moratorium period:

The holiday period enjoyed by the borrower towards repayment of the loan. Moratorium period shall not exceed course duration + 6 months

Margins:

a) Upto Rs. 4 lacs

Nil

b) Above Rs. 4 lacs

Studies in India: 5%

Studies abroad: 15%

Scholarship/assistantship to be included in margin

Security:

Upto Rs. 4 lacs: 

no security/collateral required

Above Rs. 4 lacs upto 7.5 lacs: 

Collateral in the form of a satisfactory third party guarantee.

Above 7.5 lacs: 

Collateral security upto 100% of the loan amount and guarantee of an earning acquaintance of the student for 100% of the loan amount.

Collateral can be in the form of:

Land/ building/,govt. securities/Public Sector Bonds/ Units of NSC, KVP, LIC policy, shares/ debentures, bank deposit in the name of student/ parent/ guardian or any other third party for 100% of the loan. 

In case the loan is given for purchase of computer the same to be hypothecated to the Bank

Interest Rate:

Fixed

Repayment during moratorium period:

he borrower has to repay the interest accrued during the moratorium period on a monthly basis.

Applicant/Co-applicant:

Student 

Parent/guardian of the student borrower

Disbursement:

Disbursement of the loan will be made in stages as per the demand directly to the college/institution.

Student should furnish to the bank after every semester, suitable evidence of his satisfactory progress in the course of his studies. Satisfactory performance will be a pre-requisite for availability of finance for the subsequent years. Bank will have the option to discontinue disbursement of sanctioned loan or recall it at any time if the progress of the student is not satisfactory.

Mode of repayment:

Post Dated cheques

Standing Instructions, if the customer has bank account with DCB