DBS Study Loan: Complete Guide for Students

If you are planning to take a DBS study loan for higher education, this detailed guide will help you understand everything in simple language.

We will cover:

What is a DBS study loan
Key features and benefits
Eligibility and courses covered
Documents required
Interest rate range
Example EMI calculations
Tax benefits under Section 80E
How to apply (directly and via WeMakeScholars)
Important tips before applying

This blog is written for students and parents in India who want to study in India or abroad and are comparing education loan options.

What Is a DBS Study Loan?

A DBS study loan (DBS education loan) is a type of education loan that helps you pay for:

Tuition fees
College / university fees
Exam fees, library fees and other academic charges
In some products, living expenses for overseas education (through partners)

DBS offers education finance directly through digibank and also indirectly through partners like HDFC Credila and platforms like WeMakeScholars, especially for study-abroad loans.

Key Features & Benefits of DBS Study Loan

Based on DBS, BankBazaar and WeMakeScholars information, here are the main features.

Easy and mostly online process

You can start the education loan process online from home.
Platforms like WeMakeScholars allow you to request a callback and upload documents digitally.

Competitive, student-friendly interest rates

WeMakeScholars mentions that DBS student loan interest rate ranges from about 9% to 14% p.a., depending on your profile and loan type.
DBS’s “Study Abroad Total Assist” tie-up with Credila talks about education loans starting at 10.25% p.a. for overseas study.

Actual rate will depend on your CIBIL score, collateral, co-applicant income and bank policy at the time of application.

Flexible repayment

Tenure can go up to 10–15 years for many education loans (exact limit depends on the specific product and partner bank/NBFC).
You can choose a comfortable EMI based on your future income.

Tax benefits under Section 80E

Interest paid on an education loan can give you income tax deduction under Section 80E of the Income Tax Act.
BankBazaar clearly mentions tax benefits on DBS education loan interest

There is no upper limit on the interest amount you can claim under Section 80E, but the benefit is available for 8 assessment years or until the interest is fully paid, whichever is earlier.

Eligibility Criteria for DBS Study Loan

The exact rules may vary slightly by scheme and partner, but common eligibility points are:

Student eligibility

You must be an Indian citizen (for loans taken from India).
You should have secured admission to a recognised institution in India or abroad through a valid selection process (merit / entrance exam).
You should have a good academic record.

Co-applicant eligibility

Generally, a parent / guardian / spouse acts as co-borrower.
Co-applicant must have a stable income to support repayment.

Courses covered

In most education loan schemes routed through DBS and partner platforms, the following are usually covered:

Professional degree courses (Engineering, Medicine, Management, Law, etc.)
Recognised undergraduate and postgraduate programs
Many STEM and management courses abroad are eligible for education loans via partners.

Always check with the bank/partner whether your specific course and university are on their approved list.

Documents Required for DBS Study Loan

The BankBazaar page lists the basic documents for the DBS education loan:

Identity proof (any one)

PAN Card
Aadhaar Card
Voter ID
Passport
Driving Licence

Address proof (any one)

Aadhaar card
Voter ID
Passport
Utility bill / rental agreement (as accepted by the bank)

Educational documents

10th, 12th and graduation mark sheets
Entrance exam score card (if applicable)
Admission letter from the institution
Fee structure or cost estimate from the college/university

Income documents of co-applicant

Salary slips / bank statements
Form 16 or Income Tax Returns (ITR)
Proof of business income for self-employed
Any other document requested by the bank/NBFC

Collateral documents (for secured loans)

If your loan amount is high and the lender asks for collateral, you may need:

Property title documents
Registered sale deed
Encumbrance certificate
NOC from builder/society (state-specific)

Interest Rate Range for DBS Study Loan

From WeMakeScholars and DBS announcements:

DBS education loan interest rate: about 9% to 14% p.a. (general range mentioned by WeMakeScholars)
Study Abroad Total Assist via Credila: education loans starting at 10.25% p.a.

Your final rate will depend on:

Secured vs unsecured loan
Credit score of co-applicant
Selected university & course
Loan amount and tenure

EMI Calculation Examples for DBS Study Loan

To understand the cost of a DBS study loan, let’s look at simple EMI examples.

The standard EMI formula is:

Where:

P = Loan amount
R = Monthly interest rate (annual rate / 12 / 100)
N = Tenure in months

Example 1: ₹10 lakh loan at 10.5% p.a. for 10 years

Loan amount (P) = ₹10,00,000
Annual interest = 10.5% → Monthly rate R = 10.5 / (12 × 100) = 0.00875
Tenure = 10 years = 120 months (N = 120)

Using the formula, the approximate EMI will be around ₹13,500 – ₹13,800 per month (rounded).

So, for a ₹10 lakh DBS study loan at ~10.5% for 10 years, you can expect a monthly EMI of around ₹13.6k after the moratorium.

Example 2: ₹20 lakh loan at 11.5% p.a. for 15 years (overseas studies)

Loan amount (P) = ₹20,00,000
Annual interest = 11.5% → Monthly rate R ≈ 0.00958
Tenure = 15 years = 180 months (N = 180)

The approximate EMI will be around ₹23,000 – ₹24,000 per month.

These examples are approximate and for understanding only. Always use an online EMI calculator or ask the bank for a detailed amortization schedule before finalizing.

Tax Benefits on DBS Study Loan (Section 80E)

One big benefit of an education loan, including a DBS study loan, is tax saving.

Under Section 80E, you can claim deduction on the entire interest paid on the education loan.
There is no upper cap on the interest amount.
Deduction is available for 8 assessment years from the year you start repaying interest, or until the interest is fully paid, whichever comes first.

Simple example of Section 80E benefit

Assume:

You pay ₹1,20,000 as interest in one financial year on your DBS study loan.
Your taxable income (before 80E) is ₹8,00,000.

After claiming 80E:

New taxable income = ₹8,00,000 – ₹1,20,000 = ₹6,80,000

Depending on your tax slab, this can save you a good amount in taxes each year.

How to Apply for a DBS Study Loan

You generally have two main routes:

Apply through DBS / digibank directly

Visit the digibank by DBS app or DBS website.
Fill in personal, academic and financial details.
Upload documents as per checklist.
Wait for eligibility check and sanction.

Apply through WeMakeScholars for a DBS education loan

WeMakeScholars works as an education loan platform that connects students with banks like DBS and others.

Steps mentioned on their DBS page:

Request a callback from WeMakeScholars.
Their financial officer will call you, understand your profile and check eligibility.
You will get a document upload link and support in submitting required papers.
They compare offers from multiple banks and help you choose the best option (including DBS products where suitable).
They also offer cashback up to ₹3,000 on the first disbursement for DBS loans routed through them.

This can be helpful if:

You are confused between banks.
You want help negotiating interest rate or understanding terms.
You want quicker processing and guidance on documents.

Important Tips Before Taking a DBS Study Loan

Compare total cost, not just interest rate

Consider processing fee, forex charges (for abroad), prepayment charges, etc.
For study abroad, check offers like DBS Study Abroad Total Assist that combine account, card and loan features.

Choose tenure carefully

Longer tenure = lower EMI but higher total interest.
Shorter tenure = higher EMI but less interest overall.
Use EMI calculators to test multiple combinations.

Decide secured vs unsecured

Secured loan (with collateral) usually offers lower interest.
Unsecured loan is faster and easier but usually at a higher rate.

Maintain a good credit profile

Pay existing EMIs and credit card bills on time.
A good CIBIL score helps you negotiate lower DBs study loan interest.

Read all terms and conditions

Understand when interest starts, whether you must pay partial interest during moratorium, and when full EMI starts.

Is a DBS Study Loan Right for You?

A DBS study loan can be a good option if:

You are comfortable with digital banking through digibank.
You are looking for competitive interest rates and flexible repayment.
You want assistance for overseas education, including account opening and remittances, under DBS’s study-abroad solutions.

However, you should always:

Compare DBS offers with other public and private banks.
Check if your course and university are fully covered.
Calculate EMI clearly and discuss repayment capacity with your family.

Conclusion

A DBS study loan is designed to support your education dreams in India and abroad with:

Easy online application
Competitive interest rates (around 9%–14% p.a. depending on profile)
Flexible repayment tenures
Tax benefits under Section 80E

If you plan wisely, compare offers and understand EMI and tax benefits clearly, a DBS education loan can become a strong financial support system for your higher studies.