Dhanlaxmi Bank Education Rate of Interest

The loan is provided with flexible repayment terms and affordable rate of interest to ease the loan liability.

  • No collateral or security for loan up to INR 4 lakhs
  • No processing or Prepayment charges
  • Simple documentation requirements
  • Interest charged only on the amount used

Rate of Interest is charged on basis of base rate set as per the guielines of RBI

  • The base rate is 11.50%
  • Interest Rate with subsidy is 2% more than the base rate, which ends to 13.50% per annum
  • Interest Rate without subsidy is 3.75% more than the base rate, ending to 15.25% per annum

CALCULATE YOUR EDUCATION LOAN EMI

Fill the Loan Amount
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56789101112131415
EMI Payable

1,000 per month

Total Interest

1,000

Payable Amount

1,000

Total Interest
Principal Loan Amount

Looking for admission for India and Abroad?

Know Fees

Dhanlaxmi Bank EducationLoan Eligibility

loan eligibility image
  • Indian National. A student must be an Indian citizen or must have an Indian passport
  • Age Limit. Student must be 18 years old to avail education loan
  • Entrance Exam/ Merit Based. He/ she should have secured admission through an entrance exam or on merit basis
  • English Proficiency Test. For studying abroad, an aspirant must have qualified any english proficiency test such as GRE, TOEFL, SAT, GMAT, etc.

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Bank / FinancerChange bankChange bankChange bankChange bankChange bank
Applicable Rate of InterestWith Subsidy: 13.50%
Without Subsidy: 15.25%
Up to INR 7.50 Lacs: 10.55%
Above INR 7.50 Lacs: 10.80%
up to INR 7.5 Lacs: MCLR + 2.00%
above INR 7.5 Lacs: 2.60%
Upto 4 Lacs- 16.50%
Upto 7.5 Lacs- 17.50%
Above 7.5 Lacs- 15.50%
Max Loan with CollateralFor India: 10 Lacs
For Abroad: 20 Lacs
For India: 10 Lacs
For Abroad: 20 Lacs
For India: 10 Lacs
For Abroad: 20 Lacs
For India: 10 Lacs
For Abroad: 20 Lacs and beyond based requirement
Max loan without collateralFor India: 10 Lacs
For Abroad: 20 Lacs
For India: 10 Lacs
For Abroad: 20 Lacs
For India: 10 Lacs
For Abroad: 20 Lacs
For India: 10 Lacs
For Abroad: 20 Lacs and beyond based requirement
Processing FeeNilUp to INR 4 Lacs: Nil
Above INR 4 Lacs: INR 5000
NilNil
Repayment PeriodN.A.15 years15 years7 years
Loan for top institutionsNoYes, SBI Scholar Loan SchemeYes, PNB PratibhaNo
MarginFor India: 5%
For Abroad: 15%
For loan above INR 4 Lacs
In India: 5%
In abroad: 15%
Up to INR 4 Lacs - NIL
Above INR 4 Lacs - 5%
Upto loan 4 Lacs: No margin
Above 4 Lacs: for India: 5%
for Abroad: 15%
Age Limit18 yearsno age limitNo age limitNo
Loan SecurityUp to INR 4 Lacs: Not required
For the loan above INR 4 Lacs:collateral security such as insurance policies, shares, IVP, land, bank deposits, building, and more.
Upto 7.50 Lacs: Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee
Above INR 7.50 Lacs: Tangible security along with parents as co borrower
Upto INR 7.50 Lacs: Parent(s)/guardian be made joint borrower (s). No tangible Security and /or 3rd party guarantee is required.
Above INR 7.50 Lacs: Parent(s)/guardian be joint borrower(s). Tangible collateral security of suitable value acceptable to bank.
Third party guarantee
Collateral security
Additionally, assignment of LIC policy in favor of bank amounting 100% of education loan amount
Assignment of Future salaries in favor of Axis Bank
Eligibility concession for SC/STNoNo50% for SC/ST, and;60% for General category.No
Processing TimeN.A.20 days15 days14 Days
Prepayment chargesNilNilNilNil
Penal chargesNilPenal interest @ 2% to be charged for loans above Rs.4 lacs for the overdue amount and overdue periodNil@ 2% per month on the overdue installment/s
Mandatory insurance coverNot mandatoryYesyesyes
Travel expenesesYesyesyesyes
Bank transfter allowanceNoavailableavailableNo such clause mentioned
Top up loan availabilityNoyesavailableunavailable
Interest Subsidy SchemesCSIS
Skill loan
Padho Pardesh
Padho Pardesh
CSIS
Skill Loan Scheme
Padho Pardesh
CSIS
Skill Loan Scheme
CSIS
Tax benifitYesyesyesyes
Concession/benefitsNo processing fee charged
No prepayment or penal charges
0.50% concession to girl students
Concession to girl students
1% concession if interest is serviced during moratorium period including course period
0.5% concession to girl students
0.5% concession if interest is serviced during moratorium period including course period
Online application
There is no processing fee charged
No pre- payment charges are applied
No pre- closure charges are applied
Loan Disbursal period is 15 working days from the date of final submission of documents
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How to apply for Dhanlaxmi Bank Education Loan ?

Dhanlaxmi Bank Education loan application form can be available online or offline at Bank branches.

Visit the official website Dhanlaxmi Bank Education Loan.

Click on Apply Now

Fill out the form with your details.

Upload the mandatory documents required.

Submit the form and take out a print out of the application.

Visit the bank's branch for further formalities.

For offline procedure, student can visit the bank and ask for application form for education loan. The bank representative will then be able to guide you with all necessary details and information about margin money, interest rates, and eligibility criteria about the suitable loan for you.

Dhanlaxmi Bank Education Loan Details

Loan Limit
For India: 10 Lacs
For Abroad: 20 Lacs
Margin
For India: 5%
For Abroad: 15%
Processing Fee
Nil
Loan Security
For loan upto INR 4 Lacs: No collateral or security is required
For the loan above INR 4 Lacs: the student, parent, or guardian needs to produce satisfactory guarantee in the form of collateral security. Those may include insurance policies, shares, IVP, land, bank deposits, building, and more.
Loan Repayment
N.A.

Expenses covered under Dhanlaxmi Bank Student Loan Scheme

  • Tuition Fee including hostel fee
  • Examination/ library/ laboratory fee
  • Cost of books, equipment?s, instruments or uniforms
  • Cost of computer (if required)
  • Caution deposit/ building fund/ refundable deposit
  • Insurance premium of student (if applicable)
  • Travel Expenses (for abroad)
  • Miscellaneous expenses

Education Loan Documents Required ?

Admission letter with all essential details

Attested copies of age proof, residence proof and birth date

Self-attested passport size photograph

Copies of qualifying courses

Income proof and/or copy of income tax return file

Details of collateral security along with government approved valuation certificate (if any)

Bank account statement of the applicant.

Copy of passport, visa and Form I-20 for abroad courses

Interest Subsidy Schemes

Central Scheme of Interest Subsidy (CSIS)

Formulated by the Govt. of India, a scheme to assist the students belonging to the economically weaker section.

Skill Loan Scheme

The bank offers 'Skill Loan Scheme' for students who aspire to gain knowledge and specialized training in one specific field.

Padho Pardesh

Formulated under the Prime Minister's 15 point programme, this subsidy scheme benefits the students of the minority community who want to study abroad. Such students are provided 100% interest subsidy.

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