Devayani's father's name is Jayadev and her mother's name is Lakshmi. She has two brothers, Mayur Jaidev and Nakul.
She studied Bachelor of Commerce in National College at the Mumbai University. She married Rajakumaran on 9 April 2001. Devayani first met her husband when she was acting in Suryavamsham, when Rajakumaran was assistant director. She starred in Nee Varuvai Ena, Rajakumaran's debut film. A daughter was born to the couple in 2006 and a daughter in 2008 (which was the reason for her trip to America written in to the script of the Tamil Serial Kolangal) She recently built a house named Kadhal Kottai.