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DEVELOPMENT
CREDIT BANK LIMITED
| Eligibility : |
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Student
- Individuals of Indian Nationality who have secured admission to
recognized courses/universities in India or Abroad through entrance
test/selection process
Courses
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 Details
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Coverage of expenses
- 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
Quantum
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
Margin :
- Upto Rs.4 lakh : Nil
- Above Rs.4 lakh - Studies in India : 5%
- Studies Abroad : 15%
Scholarship/assistantship to be included in margin
Security :
- Upto Rs. 4 lakh : no security/collateral required
- Above Rs.4 lakh & upto Rs.7.5 lakh : Collateral in the form
of a satisfactory third party guarantee.
- Above Rs.7.5 lakh :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
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| Rate of Interest |
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As per bank rules
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| Repayment |
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Period :
Maximum 5 years after commencement of repayment for studies in India
and 3 years for studies abroad
The holiday period enjoyed by the borrower towards
repayment of the loan. Moratorium period shall not exceed course duration
+ 6 months.
The borrower has to repay the interest accrued during
the moratorium period on a monthly basis.
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| Contact Details
Head Office - Ground floor, Hansalaya Building,
15, Barakhamba Road, Connaught Place, New Delhi
- 110001
Phone : 011-2335 0077
Website : visit
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