DCB Bank Education Loan

The DCB Bank education loans offer education loans of up to 20 Lacs with an interest rate ranging from  9 to 14%.

The DCB Bank abroad education loan offers up to 20 Lakhs for students wanting to attend university in a foreign country for their higher education.

For students wishing to continue higher education in India, the DCB Bank education loan provides a quantum of up to 10 Lacs.

The processing fee in DCB bank is around 1-2% of the total loan amount sanctioned.

On the other hand, the services provided by WeMakeScholars are free of cost. We are an initiative funded and supported by the Ministry of IT government of India, under the digital india scheme. 

To help you save time and prevent any potential sanction-related issues or delays, we can provide you with a personalized document checklist that considers your requirements and profile. 

It is mandatory to take loan insurance from DCB Bank. Loan insurance is the protection plan offered to you by the on your loan. It is about 1-2% of the total loan amount being sanctioned.

Loan insurance proves to be extremely useful to the co-applicant in times of unfortunate events such as disability, or even the death of the applicant. With the loan insurance, the applicant can make sure that the entire burden of loan repayment doesn’t fall on the shoulders of their parents/co-applicants

Loan Margin is the amount that you will need to arrange from your end to study in India or abroad. For example, if a student has applied for a loan of 60 Lakhs and if the loan margin is 15%, then the loan margin becomes equal to 9 Lakhs.

We recognize that loan margins can greatly affect borrowing costs, and our goal is to assist students in obtaining the most favorable loan conditions and rates.

Under these programs, the Indian government will pay the interest owed throughout the moratorium or grace period, which is equivalent to the course's duration plus 12 months.

Padho Pardesh

The applicant is a member of a religious minority, such as a Muslim, Christian, Sikh, Buddhist, Jain, or Zoroastrian and their family's annual income is less than 6 Lakhs.

Central scheme for interest subsidy for economically backward classes

The household income of the applicant is less than 4.5 lacs.

Dr. Ambedkar's central sector scheme

• This subsidy is available to students who fall under the Economically Backward Class (EBC) and whose family income is less than 8 lakhs per year.
• This subsidy is available to students from OBC populations who have a household income of fewer than 8 lakhs rupees.

DCB Bank education loan process (Offline)

• Visit the closest operating branch to you 
• Submit all the required documents at that branch 
• Your documents will be verified manually
• The loan amount will be sanctioned and disbursed after verification.

DCB Bank online loan application process through WeMakeScholars

Step 1: Fill in the Common Application form for education loans which would be available to you on our website.

Step 2: Your eligibility would be checked by our financial officer through a call. Provide them with all the information asked for.

Step 3: Choose a lender from all the lenders provided to you by your financial officer based on your eligibility and loan policies.

Step 4: Your financial officer will provide you with a list of documents that are to be submitted to the bank to start your loan process. Or you can safely upload the documents online on our secured document portal.

Step 5: As soon as your documents have been submitted you will be logged in. The result of your application will be given to you within 10-15 days in government banks and 2-6 days in private banks.

Step 6: Receive your sanction letter and sign the loan agreement after your loan has been sanctioned.

Issues faced by students when reaching out to a lender directly

• Very high-interest rates 
• Confusion about the whole process
• The very lengthy loan process
• No expertise is offered on complicated cases
• Credit issues cannot be tackled 
• Don’t have the tools to deal with a multi-city case.

Perks of applying through WeMakeScholars

• Negotiation on your behalf: Process your loan with us to make sure you get offered the best possible interest rate(around 0.5 % to 2% of the loan amount)as we are one of the biggest partners of most of the public banks, private banks, and NBFCs.
• Best customer service/support: Available to you from 9 AM to 9 PM to help you out with any issue you face during the loan process (Even post disbursement!)
• The cashback offered: Receive a cashback of 3000 Rs on multiple disbursements as you are rewarded for supporting the digital india campaign by processing your loan with WeMakeScholars
• Digitized application process: When you process your education loan with us, the entire process becomes a piece of cake as most of the process is done online. You can finish applying for your education loan without leaving the comfort of your house.

Why transfer your loan to DCB Bank?

• By transferring a loan from one bank to another you can get lower rates of interest on the existing loan and also on the new education loan you’re applying for. This can help you save a ton of money over a long period of time! 
• Better loan terms are offered to you on loan transfer 
• Extension on loan tenure can also be availed.

How to transfer your loan to DCB Bank?

• Go to our website and click on the request for a callback
• Collect the details of your existing loan and discuss them with your assigned financial officer from WeMakeScholars.
• Submit the documents suggested to you by your financial officer in the bank's branch closest to you.

Our financial officers can guide you through the loan transfer process and provide answers to any questions you may have.

The EMI calculation as per DCB bank’s rate of interest primarily depends on these factors

• Total loan amount
• Compound and simple interest
• Semester-wise breakdown
• Moratorium period

To calculate your EMI, head on to the WMS Education Loan EMI calculator for a precise calculation of your EMI. WeMakeScholars is aware that managing finances can be a challenging task, and that's why we aim to offer our users helpful tools and resources like the Education Loan EMI Calculator, which simplifies the process. With this online tool, you can calculate your monthly education loan repayment amount based on your loan amount, interest rate, and repayment tenure.

Let’s assume you apply for a loan of 28 Lakhs with an interest rate of 10% and a tenure of repayment equal to 12 years. The amortization schedule would look as follows.

WeMakeScholars is committed to providing users with comprehensive and dependable services, and our post-sanction support is just one of the ways we strive to simplify the loan application process.