DBS Bank Education Loan

✓ Check your Eligibility 

✓ For a Collateral or Non-collateral Education Loan

Speak with a Financial officer

Due to high number of loan requests from your region, we are not accepting any new applications at the moment. We believe in offering quality service to our customers.

Sorry for the inconvenience caused.

Table of content

  1. DBS Bank Education Loan to Study Abroad
  2. DBS Bank Education Loan to Study in India
  3. Government interest subsidy schemes
  4. DBS Bank Education Loan Processing fee
  5. Documents Required for DBS Bank Education Loan
  6. DBS Bank Education loan insurance
  7. DBS Bank loan margin calculation
  8. How to apply for an education loan from DBS bank?
  9. Why go through WeMakeScholars?
  10. Why and How to transfer your education loan to DBS bank?
  11. DBS bank Education loan EMI calculation as per interest rate
  12. DBS Bank Education Loan Repayment process
  13. FAQ's
  14. Need Help? Ask Here!

DBS, short for Development Bank of Singapore, is a multinational banking and financial services corporation with a presence all over the Globe. The bank recently acquired the Lakshmi Vilas Bank, which was sinking due to a capital crisis. We will discuss the then Lakshmi Vilas Bank education loan products, which are now offered by DBS.

  • DBS Bank education loan to study abroad
  • DBS Bank education loan to study in India

There are different types of education loans secured, and unsecured, for India and abroad. Hence, learn different types of education loans and then apply according to your suitability.

DBS Bank Education Loan to Study Abroad

The bank offers education loans of up to 20 lacs to study abroad, wherein it is not mandatory for you to service interest in the moratorium period.

Parameter

Details

Loan Limit

Up to 20 lacs 

Can go for a higher amount by choosing a better co-applicant, or a better course

Expenses covered

Study costs

Fees for university like tuition fees, or admission fee
Library fee or laboratory fee
Books expenses
Laptop expenses

Living expenses

Accommodation cost
Cost for food

Other

Expenses for travel
Insurance
Other miscellaneous expenses

Accepted co-applicant

Parents

DBS Bank Education loan interest rate

The interest rates for DBS bank range

For loans with collateral- 9 to11%
For loans without collateral - 12-14%

Moratorium Period

Course period plus 1-year

Repayment Duration

15 years of loan tenure

Repayment policies

Paying interest in the moratorium period is optional, however, if you opt to pay interest in the moratorium period, you will have an interest concession of 1%

Eligibility Criteria

Should be an Indian national
Should have secured admission into a higher education course through an entrance test or through merit

Value of Collateral (only if it is a collateralized education loan)

The value of collateral should be equal to 125% of the loan amount

Accepted Collateral

FD, land, flat, and house

Tip: If you have the ability to pay interest in the moratorium period, then do so, as it will reduce your interest by 1%. For more such tips talk to your Financial officer at WeMakeScholars.

Countries Eligible for an Education Loan from DBS Bank

DBS bank offers customized education loan schemes for the following countries.

Education loan for top countries listed above is not as tough as you think if you go through WeMakeScholars.

DBS Bank Education Loan to Study in India

DBS bank offers education loans to study in India for interest rates in the range of 9 to 14% per annum. You can avail of a loan of up to 10 lacs for a DBS bank study in India loan.

Parameter

Details

Loan Limit

Up to 10 lacs 

Choose quality institutes to request a higher amount of loan

Expenses covered

Study costs

Fee for tuition and admission fee
Lab/library fee
Costs to buy books
Expenses to buy equipment such as a computer, or a laptop

Living expenses

Cost of accommodation
Cost of food

Other

Cost for travel
Insurance
Other miscellaneous expenses

Accepted co-applicant

Parents

DBS Bank Education loan interest rate

DBS Bank interest rates

Collateral loans- 9 to11%
Non-collateral- 12-14%

Moratorium Period

Duration of the course +1 year

Repayment Duration

15 years of loan repayment duration

Repayment policies

1% interest rate concession if interest is paid in the moratorium period

Eligibility Criteria

Should be an Indian national
Must have gotten admission through merit or through an entrance examination

Value of Collateral (only if it is a collateralized education loan)

Up to 125% of the loan amount

Accepted Collateral

House, land, flat, and FD

Tip: Choose a professional or technical job-oriented course to avail of maximum funding from the DBS bank. For more such tips, talk to a financial officer from WeMakeScholars. 

Government interest subsidy schemes

The Indian government is keen on promoting higher education among students and hence has provided certain subsidy schemes to waive off the interest on students loan in the moratorium period.

Dr. Ambedkar Central sector scheme

The scheme was started for OBC and EBC students having exceptional academic backgrounds.

Eligibility:

The income of the applicant’s family should not be more than 8 lacs per annum.
The applicant should be pursuing overseas education in the Master, M.Phil. or Ph.D. level.
The education loan scheme must be in line with Indians Banks Association(IBA) guidelines.

Padho Pardesh scheme

The scheme was introduced to provide interest subsidies to students who have taken an abroad education loan

  • The students should belong to a religious minority community(Sikhs, Jains, Muslims, Christians, Buddhists, or Zoroastrians).
  • His/her family income should be less than 6 lacs per annum.

Note: The scheme has been discontinued by the government. However, the beneficiaries before 31st march will continue to receive interest subsidy.

Central Scheme for Interest Subsidy for Economically Weaker Sections

As the name suggests, the scheme is for Economically Weaker Sections of society(EWS) provided they meet the following eligibility criteria.

  • The family income of the student should be less than 4.5 lacs per annum
  • The education loan scheme should be under IBA guidelines

DBS Bank Education Loan Processing fee

As the DBS bank education loan scheme comes under the IBA guidelines and hence, there is no processing fee to process study in India education loan. However, the bank may charge a processing fee for study abroad loans, which will be refunded to you after you take up the course. 

We at WeMakeScholars, despite providing unmatchable quality services to process education loans for abroad studies and for studies in India, do not charge any fee.

Documents Required for DBS Bank Education Loan

Find below the documents that you will require to process the DBS bank education loan

- WeMakeScholars' financial officer will provide you DBS bank education loan form which you will need to fill out along with your signature and 2 photographs
Applicant’s Documents:
- Proof of Identity: Aadhar, passport(if going abroad), and PAN card
- Residence proof: Aadhar card, Voter ID card, Telephone or electricity bill, bank account statement or Ration card.
Co-applicant's documents:
- Last 6 months' payslips for salaried
- 1-year business transactions for self-employed
Applicant’s academic documents
- 10th, 12th, and degree mark sheets
- Admit proof with the total duration of the course
- Fee structure
- IELTS, GRE, GMAT scorecard
- Ranking of the university
Documents for salaried financial co-applicant
- Last 3 months' payslips
- Balance sheet, and profit and loss account of the last 3 years
- Proof of address of the business
Other documents
- A letter stating, the leftover expenses apart from the loan will be taken care off by the co-applicant(ask your WeMakeScholars financial officer for the format)
- Notarised joint affidavit with co-applicant and the student in the format provided by WeMakeScholars financial officer.
Additional documents
- Payments receipt if any made to the university
- Loan account statement of any pending loan
- Explain in a Rs 100 stamp paper, the reason for any gap that you have had in your studies
Collateral documents
- The collateral documents are only needed if you are going for a collateralized loan. Also, the list of required documents varies with state and so talk to your financial officer from WeMakeScholars to have an accurate list of documents including the collateral documents. 

DBS Bank Education loan insurance

The DBS bank offers loan insurance of 1 to 2% along with the loan that you process. It acts as a protection against the loan that you take. If the applicant meets with any unforeseen circumstances such as disability or death, the burden of repaying the loan is borne by the insurance company.

However, the amount of loan insurance is adjusted within the loan amount and so you do not need to worry about paying anything upfront. Talk to your WeMakeScholars financial officer to learn more about DBS bank loan insurance. 

Apply for education loans that empower you through an education loan insurance!

DBS Bank loan margin calculation

The DBS bank does not have any loan margin for loans up to 4 lacs. However, there is a loan margin of 5% for study in India and 15% for study abroad for above 4 lakh loans. 

Any kind of assistance or scholarship can be included in the margin. The margin is brought in on a year-to-year disbursement basis. If unable to fund the 5 or 15% of the loan margin from your end, talk to your financial officer at WeMakeScholars for an alternative. 

How to apply for an education loan from DBS bank?

Follow the below step-by-step guide to process an education loan from DBS bank through WeMakeScholars

Step 1- Request a callback from WeMakeScholars
Step 2- WeMakeScholars financial officer will connect to you in the least time possible and will ask for your details and requirements and will check your education loan eligibility.
Step 3- He/She will then send you a document uploading link and will connect you to suitable lenders who can provide you with the best education loan offers.
Step 4- Upload your documents in the link provided by your financial officer to take your education loan process forward. 
Step 5- Your process will be taken further by the assigned lenders. All this while your WeMakeScholars financial officer will be in touch with you to track the process and also to clear any confusion that you might have.
Step 6- You will have the sanction lender in your hand within the time promised by your WeMakeScholars financial officer.

Why should you not go directly through banks?

Going directly through banks may result in several disadvantages listed below

  • You won’t be able to understand the process of an education loan clearly
  • A completely accurate list will be a distant dream
  • You will have a lot of hidden charges
  • The process of your education loan will be longer than usual
  • Fewer chances of an education loan sanction
Apply for a DBS bank education loan through WeMakeScholars for a transparent process!

Why go through WeMakeScholars?

WeMakeScholars, an organization that is supported by the Ministry of IT, govt of India, offers unbiased education loans to students wishing to pursue education in India or abroad. Let’s see one by one the advantages that you will have if you go through us, i.e through WeMakeScholars:

Lower interest rates: When you go through us, you automatically have a reduced interest of up to 2%, as we are partnered with 14+ banks(public and private). 

Faster Loan process: We make sure that you have your education loan sanction letter in your hand within 50% less time than when you go directly through banks. 

End-to-end support: We provide assistance throughout the education loan process, right from loan sanction to repayment, even if you are situated in a 12 hrs different timezone.

Tax benefits: We will educate you about different tax benefits that you will be eligible for when taking an education loan.

Cashback: When you go through us, you receive a cashback of up to Rs 3,000 in your first disbursement.

Request a callback from us today to get started with the education loan process that offers the above-mentioned benefits.

Avail a cashback of ₹3000 by taking an education loan from DBS bank through WeMakeScholars!

Why and How to transfer your education loan to DBS bank?

The below-mentioned benefits are the reason for you to transfer your education loan to DBS bank

  • The bank does not have any loan margin for loans up to 4 lacs and also for up to 7.5 lacs if the loan is under the Credit guarantee scheme
  • The bank offers competitive interest rates
  • It is flexible with its terms and so you can easily avail an education loan even if you lack certain eligibility criteria

Transfer your education loan to DBS bank by following the below steps

  • Go to the bank from where you have taken the present education loan and also meanwhile request a callback from WeMakeScholars
  • Collect all the information regarding your education loan from the bank including the amount outstanding
  • Your financial officer will connect to you in the least time possible, tell him/her that you wish to transfer your education loan to DBS bank
  • He/she will then send you a list of documents that you will need to submit to DBS bank
  • The DBS bank will then clear off your dues with the previous bank and will start the education loan process with them.

WeMakeScholars is your answer to complicated education loan transfers. Request a callback today!

DBS bank Education loan EMI calculation as per interest rate

 Follow the below example to learn to calculate your EMI!

Let’s say you have taken an education loan of 20 lacs at an interest rate of 11.5% per annum for a course duration of 2 years. You have a moratorium period of 3 years, and a repayment duration of 10 years.

The below table says how much you will pay yearly!

Timeline

EMI

Interest portion

Principal portion

Loan Outstanding

Year 1

35860

23180

12680

2406103

Year 2

35860

21642

14217

2244127

Year 3

35860

19918

15941

2062510

Year 4

35860

17985

17874

1858870

Year 5

35860

15818

20042

1630536

Year 6

35860

13388

22472

1374515

Year 7

35860

10663

25197

1087450

Year 8

35860

7608

28252

765574

Year 9

35860

4182

31678

404669

Year 10

35860

340

35519

0

 

Let us help you calculate your EMIs, in case you aren’t able to do so. Request a callback from WeMakeScholars today!

DBS Bank Education Loan Repayment process

The DBS bank provides up to 15 years for students to repay the loan. Also, the interest payment in the moratorium period is not mandatory. However, if you do pay interest in the moratorium period, you will be awarded a concession of up to 1% in the interest rates.

The bank also gives you the option of closing off the loan early through the following ways

  • Prepayment
  • Loan transfer to another bank
  • Opting for a shorter repayment duration

Request a callback today to get started with an education loan process that is shielded from the repayment issues like a sudden increase in the ROI. 

Be eligible for a concession of upto 1% interest rate by paying interest in the moratorium period!

Education Loan FAQs

  • Does DBS bank provide education loans?

    Yes, DBS bank does provide education loans. Contact WeMakeScholars for information about different education loan products from the DBS bank.

  • What is the DBS student loan interest rate?

    The interest rate for a student loan from DBS bank ranges between 9% to 14%. However, they can be negotiated by your financial officer from WeMakeScholars.

  • How long does DBS take to approve a loan?

    DBS bank takes up to 7 working days to process an education loan after submitting the documents when going through WeMakeScholars.

  • How do I check the status of my DBS bank education loan application?

    Stay in touch with your WeMakeScholars financial officer to track your education loan application.

  • What is the loan limit for the DBS bank education loan?

    The DBS bank can offer up to 20 lacs for an abroad education loan and 10 lacs for a study in India loan.

Our Education Loan team will help you with any questions

Naresh Kumar
WeMakeScholars- supported by IT Ministry, Govt. of India.
Published: | Updated: