Dena Bank


"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."

Loan Interest Rates:

Max. Loan Amount Interest Rate
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)

Base Rates Are: 10.25%.
"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."

Loan Eligibility:

Courses Eligible For Loan:
  • 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.

Documents Required:
  • 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

Candidate Education Loan Eligibility:
  • 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.

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)."

Expenses Covered under Education Loan:

  • 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.

Loan Repayment:

Loan Amount Repayment Period
For loan amounts of up to Rs 7.50 lakhs Maximum 10 years
For loan amounts above Rs 7.50 lakhs Maximum 15 years

Security Required:

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


1.How can I apply for Dena Bank Education Loan?
Ans. You can apply for Dena Bank Education Loan online through the bank's website or at any of the branches of Dena Bank.

2.How can I track the status of my loan application?
Ans. 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).

3.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?
Ans. 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.

4.I have availed a student loan of Rs 10 lakhs. What will be maximum repayment tenure of the loan?
Ans. The maximum repayment tenure is 15 years for loans above Rs 7.50 lakhs.

5.I am a citizen of Kenya who wants to study in India. Am I eligible to apply for Dena Bank Education Loan?
Ans. No, only Indian nationals are eligible to apply for education loan from Dena Bank.