The increasing popularity of social media platforms has simplified the sharing of news articles that have led to the explosion in fake news. With the emergence of fake news at a very rapid rate, a serious concern has produced in our society because of enormous fake content dissemination. The quality of the news content is questionable and there exists a necessity for an automated tool for the detection. Existing studies primarily focus on utilizing information extracted from the news content. We suggest that user-based engagements and the context related group of people (echo-chamber) sharing the same opinions can play a vital role in the fake news detection. Hence, in this paper, we have focused on both the content of the news article and the existence of echo chambers in the social network for fake news detection. Standard factorization methods for fake news detection have limited effectiveness due to their unsupervised nature and primarily employed with traditional machine learning models. To design an effective deep learning model with tensor factorization approach is the priority. In our approach, the news content is fused with the tensor following a coupled matrix-tensor factorization method to get a latent representation of both news content as well as social context. We have designed our model with a different number of filters across each dense layer along with dropout. To classify on news content and social context-based information individually as well as in combination, a deep neural network (our proposed model) was employed with optimal hyper-parameters. The performance of our proposed approach has been validated on a real-world fake news dataset: BuzzFeed and PolitiFact. Classification results have demonstrated that our proposed model (EchoFakeD) outperforms existing and appropriate baselines for fake news detection and achieved a validation accuracy of 92.30%. These results have shown significant improvements over the existing state-of-the-art models in the area of fake news detection and affirm the potential use of the technique for classifying fake news.