Make college memories that last a lot longer than your student loan payments.

Dena Bank Education Loan


Dena Bank was founded in 1938 by the family of Devkaran Nanjee. The bank was nationalized by the government of India in 1969. Today, it is a major public sector bank in India with over 1,400 branches spread across the country. The bank offers services across different sectors such as personal banking, corporate banking, SME banking, international banking etc.

Dena Bank offers a variety of loans to people in need of financial assistance, including education loans. Dena Bank Education Loan can ensure that you have a bright future by offering the financial assistance needed to pursue higher education courses in India or abroad.

Features and Benefits of Dena Bank Education Loan:

Objective of the loan:

The objective of the Dena Vidya Laxmi Educational Loan Scheme is to help students who come from low income families to pursue higher studies in India or abroad.

Expenses Considered for Dena Bank Education Loan:

The expenses covered by the loan include:

  • Hostel fees, school or college fees.
  • Examination, laboratory, or library fees.
  • Money spent on purchasing books, uniforms, computers, instruments and equipment.
  • Travel expenses or passage fare.
  • Expenses involving study tours, thesis writing, projects etc.

Amount of Education Loan:

The maximum loan amount offered is Rs.10 lakhs for studying in India and Rs.20 lakhs for studying in foreign countries.

Interest Rates:

The interest rates for Dena Bank Education Loan are as follows:

Loan amounts of Rs 4 lakhs or below

11.80% p.a. (to be repaid within 3 years)

Loan amounts above Rs 4 lakhs

11.80% p.a. (to be repaid within 3 years)

During the moratorium period only simple interest is charged on the loan amount. The students get a concession of 1% on the interest rate when the payments for the interest charged are made on time, during the repayment holiday period.

For the following institutes, the actual rate applicable is the base rate. The base rate changes from time to time, depending on RBI’s guidelines. Currently the base rate is 10.25% and so the interest rate for these institutions is also 10.25%

In India:

IITs, BITS, NITs, IISc, MIT (Engineering)

IIMs, XLRI Jamshedpur, ISB Hyderabad, JBIMS Mumbai and NMIMS Mumbai (Management)

CMC Vellore, PGIMER Chandigarh, AIIMS New Delhi, Dr.Ram Manohar Lohia Hospital New Delhi, VMM College & Hospital Safdarganj, Armed Forces Medical Sciences (Medical Science)

IIFT New Delhi, Delhi School of Economics and NID Ahmedabad.


Universities of Cambridge, UK; University of Oxford, Imperial College London, UCL in UK, University of Toronto, University of Edinburgh, McGill University, Harvard University, MIT, Yale University, Upenn, USA, University of Chicago, Columbia University; Stanford University, Caltech in USA, Princeton University, Cornell University, University of Michigan, Duke University Johns Hopkins University, Northwestern University, UCB, ETH Zurich, University of Tokyo and HKU in Hong Kong.

The applicants do not have to provide collateral security or pay any margin for the above institutions, irrespective of the loan amount.

Processing Fees:

The bank does not charge any processing fee for pursuing education in India but for pursuing education abroad, there is a processing fee of Rs 1000 (refundable).

Repayment Tenure:

For loan amounts of up to Rs 7.50 lakhs

Maximum 10 years

For loan amounts above Rs 7.50 lakhs

Maximum 15 years

The moratorium period is 6 months from the time of getting employed or the duration of the course plus 1 year (whichever is earlier).


For loan amounts up to Rs 4 lakhs

No margin

For loan amounts above Rs 4 lakhs

5% for courses in India and 15% for courses abroad

Dena Bank Education Loan Eligible Courses:

The eligible courses for Dena Bank Education Loan are as follows:

Graduation, Post-Graduation, Masters, Professional and PHD courses, along with vocational training and education programmes (in India).

Job oriented technical or professional graduation courses and post-graduation courses like MS, MBA, MCA etc. that are offered by recognized universities abroad.

Courses that are conducted by CPA-USA, CIMA-London etc.

Dena Bank Education Loan Eligibility and Documentation:

The eligibility criteria for Dena Bank Education Loans are as follows:

  • You should be a citizen of India.
  • You should have been selected for a technical or professional course in a recognized college / institution / university in India or abroad.

The documents required for applying for Dena Bank Education Loan are as follows:

  • Proof of Identity
  • Admission letter of college, institute or university (in India or abroad)
  • Brochure detailing the course fee charged by the institute
  • Application form

Subsidy Scheme:

The Government of India offers an Interest Subsidy scheme for economically weaker students. The features of this scheme are as follows:

  • The scheme only applies to Technical / Professional courses in India that are offered by colleges, universities or institutes recognized by the MoHRD, Government of India.
  • The subsidy is applicable only during the moratorium period of the loan and for courses starting after April 1, 2009.
  • Only students with overall family income of less than Rs 4.5 lakhs per annum are eligible for this scheme.
  • The students will be need to provide income proof issued by competent authorities recognized and authorized by State or Central Government.
  • Students who are expelled from the institution or discontinue the course due to reasons other than medical grounds are not eligible for this scheme.

Please contact the branch manager at your nearest Dena Bank branch for further details about the subsidy scheme.

Dena Bank Education Loan FAQs:

  1. How can I apply for Dena Bank Education Loan?
  2. You can apply for Dena Bank Education Loan online through the bank’s website or at any of the branches of Dena Bank.
  3. How can I track the status of my loan application?
  4. You can track the status of your application on the bank’s website by providing the following information: Ticket Number, Mobile Number, and Proposal ID (when applied at a branch).
  5. I have been selected for an engineering programme at IIT Madras. What will be the margin that I will need to pay if I apply for Dena Bank Student Loan?
  6. No margin is applicable for any courses offered by the IITs and so you will not have to pay any amount as the margin for the loan.
  7. I have availed a student loan of Rs 10 lakhs. What will be maximum repayment tenure of the loan?
  8. The maximum repayment tenure is 15 years for loans above Rs 7.50 lakhs.
  9. I am a citizen of Kenya who wants to study in India. Am I eligible to apply for Dena Bank Education Loan?
  10. No, only Indian nationals are eligible to apply for education loan from Dena Bank.
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