Dena Vidya Laxmi Educational Loan Scheme for Economically Weaker Sections (EWS)

Dena Bank is a Indian Public Sector Bank. It offers educational loan for higher studies (both in India and abroad) for Indian students from Economically Weaker Sections. The details of the scheme has been provided in this article.

Higher education is becoming more and more costly with the passage of time. As a result, Indian parents from all economic classes are being forced to go for an education loan to meet the expenditures associated with higher education abroad and even within India for their children. It is absolutely necessary for all of us to know the details of education loan being offered by various banks. In this article we are going to discuss the Dena Vidya Laxmi Educational Loan Scheme for Economically Weaker Sections (EWS). This scheme is being offered by Dena Bank, a Public Sector Bank of India.

Purpose of the scheme

The purpose of this scheme is to provide financial support to deserving meritorious students from economically weaker sections for pursuing recognized technical/ professional courses in India after X+II level.


A student who is an Indian national and has secured admission to a higher education course in recognized institutions in India or abroad is eligible to apply for education loan offered by Dena Bank under this scheme. The income of the parents of such students should be below Rs. 4.50 lakh per annum.

Eligible courses in India

The following courses in India are eligible:
  • Approved courses leading to Graduation
  • Post Graduate degree
  • PhD
  • Professional courses

  • Eligible courses abroad

    The following courses in foreign countries are eligible:
  • Graduation for job-oriented professional/technical courses offered by reputed universities
  • Post Graduation, MCA, MBA, MS, etc.
  • Courses conducted by CIMA-London, CPA in USA, etc.

  • (The list of educational institutions for the purpose of this scheme can be downloaded from Dena Bank website indicated below for reference.)

    Quantum of loan

  • Studies in India: Maximum up to Rs. 15 lakhs (on actual basis)
  • Studies abroad: Maximum up to Rs. 25 lakhs (on actual basis)

  • Applicable margins

    The applicable margins are as under:
  • Upto Rs. 4 lakhs: NIL for study in India and abroad
  • Above Rs. 4 lakhs: 5% for study in India and 15% for study abroad

  • Rate of interest

    The details of rates of interest and related aspects are given below:
    • Current rate: MCLR (presently 8.6%) +1.05% + 0.50% =10.15% per annum
    • 1% interest concession. if interest is serviced as and when due during the study period when repayment holiday is specified
    • Processing fee is Rs. 1000/- for studies abroad which is refundable on availing the limit
    • Repayment Holiday/Moratorium: Course period + 1 year
    • Repayment period: Maximum up to 15 years for all loans
    • All loans up to Rs. 7.50 lakhs are covered under Credit Guarantee Scheme managed and operated by National Credit Guarantee Trust Company Ltd (NCGTC)

    Concluding comments

    The procedure for applying educational loan under Dena Vijaya Laxmi Educational Loan Scheme is comparatively easy. Students can apply online for Dena Vidya Laxmi Educational Loan Scheme. Alternatively, the prospective applicants can visit any Dena Bank branch with marksheet of the qualifying examination and proof of admission for applying for this education loan. For details, the students or their guardians may visit: For query or redressal of grievances, interested students may send e-mail to:

    Article by Partha K.
    “Those who will not reason, are bigots, those who cannot, are fools, and those who dare not, are slaves.” - George Gordon Byron

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