Education and Career Forum

Hello everyone, I am looking forward to apply for an education loan in Development Credit Bank for studying BDS course. I would like to know about the terms and conditions for applying an education loan in this bank. Can anyone tell me?

Originally Posted by Unregistered

Hello everyone, I am looking forward to apply for an education loan in Development Credit Bank for studying BDS course. I would like to know about the terms and conditions for applying an education loan in this bank. Can anyone tell me?

Here are some general terms and conditions that apply to education loans offered by Development Credit Bank for BDS aspirants:

• Eligibility: The applicant must be an Indian citizen, with a confirmed admission letter from a recognized institution for the BDS course.
  
• Age: The applicant must be within the age group of 16-35 years.
  
• Academic qualifications: The applicant must have completed their higher secondary education or an equivalent examination with a minimum of 50% aggregate marks.
  
• Loan amount: Development Credit Bank provides loans up to Rs. 20 lakhs for studies in India and up to Rs. 50 lakhs for studies abroad.
  
• Security/collateral: The bank may ask for collateral security, such as a property, fixed deposit, or a third-party guarantee, depending on the loan amount.
  
• Interest rate: The interest rate for education loans varies based on the loan amount and the tenure chosen. Development Credit Bank charges interest rates starting from 11.75% per annum.
  
• Repayment: Repayment of the loan starts after the course completion. The repayment tenure can vary from 5 to 7 years, depending on the loan amount.

These are some of the general terms and conditions that apply to education loans offered by Development Credit Bank for BDS aspirants. Please note that the terms and conditions may vary based on the specific loan scheme and the applicant's profile. It is advisable to contact the bank directly for more details and specific terms and conditions.