DCB Bank Loan

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 The student The parent/guardia	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 b) Studies Abroad	Post graduation courses from recognised universities Professional courses from reputed institutes:. Courses conducted by IIM, IIT, IISc, XLRI, NIFT, etc. 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 b) Studies abroad	Minimum – Rs. 25,000 Maximum – Rs. 7,50,000 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 b) Above Rs. 4 lacs	Nil 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

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