DBS Education Loan – No Margin Up to ₹4 Lakh, Flexible EMI & Tax Savings

Features & Benefits of DBS Education Loan

• Easy process: Applying for an education loan with DBS is a hassle-free process. The bank allows you to submit a loan application sitting in the comfort of your home.
• Competitive interest rates: The education loan offered by DBS is at student-friendly interest rates.
• Flexible repayment: DBS allows you to choose loan repayment options and tenures, making the entire process convenient.
• Tax reductions: DBS education loans come with reduced tax liability under Section 80 C of the Income Tax Act.

Eligibility Criteria for DBS Education Loan

The following eligibility criteria should be met in order to avail DBS Education Loan:

• The applicant should be an Indian national.
• The minimum accepted age of the applicant is 18 years up to the age of 35 years.
• The applicant should be pursuing a graduate / PG / PG diploma degree.
• The applicant should have secured an admission in a recognised institute.
• A co-applicant is mandatory for a full-time course.
• The co-applicant can be a parent / guardian with a good credit history and stable income.
• Depending on the loan amount, tangible / intangible collateral or guarantor would be required.

Documents Required for DBS Education Loan

To avail the education loan at DBS, you need to submit the following documents along with two passport-sized photographs:

1. You need to submit any one of the below-mentioned documents as identity proof:

1. PAN Card
2. Aadhaar Card
3. Driving Licence
4. Voter ID
5. Passport

2.  You need to submit any one of the below-mentioned documents as address proof:

1. Aadhaar Card
2. Driving Licence
3. Voter ID
4. Passport

3. You need to submit the below-mentioned documents as income proof:

1. Income Tax returns for the past two years
2. Salary slips (last three months)
3. If self-employed, financial statements of the last two years along with an office address (certified by CA)

4. You need to submit the below mentioned documents as education proof:

1. Class 12 passing marksheet / certificate
2. Graduation marksheet
3. CAT, GMAT, GRE, TOEFL or IELTS score report (if applicable)
4. Admission confirmation letter from the university

DBS Education Loan EMI Calculator

DBS education loan EMI calculator allows you to predict the payable EMI amount by entering the loan amount and tenure in the given formula.

The formula used for an EMI calculator is

[P x R x (1 + R) ^ n] / [(1 + R) ^ n - 1]

Where,

P= principal loan amount,

R= applicable rate of interest,

n= number of monthly instalments.

Using a DBS education loan EMI calculator helps you estimate the monthly EMI expenses well in advance and plan your finances accordingly.

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