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
Fill the Interest Rate
Fill the Loan Tenure
EMI Payable

188 per month

Total Interest

1,280

Payable Amount

11,280

Total Interest
Principal Loan Amount

Looking for admission for India and Abroad?

Know Fees

Dhanlaxmi Bank Education Loan 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.

Compare Your Bank

Popular banks:SBIPNBHDFCAxisICICI

Select a bank to compare

SBI
PNB
HDFC
Axis
ICICI
Canara
Bank of Baroda
Allahabad Bank
Indian Bank
IDBI
Karnataka Bank
Kotak Mahindra Bank
Oriental Bank of Commerce
Syndicate bank
Saraswat Bank
UCO Bank
Union Bank of India
Vijaya Bank
Bank of Maharashtra
Central Bank of India
Dena Bank
Dhanlaxmi Bank
Bank of India
RBL Bank
Dombivli Nagari Sahakari Bank Ltd.
Federal Bank
Corporation Bank
Indian Overseas Bank
Abhyudaya Bank
South Indian Bank
GP Parsik Sahakari Bank
Pragathi Krishna Gramin Bank
Karur Vysya Bank
New India Co-Operative Bank
Andhra Bank
Punjab and Sind Bank
Tamilnad Mercantile Bank
Jammu and Kashmir Bank
United Bank of India
InCred
Auxilo
Avanse
Bajaj Finance Limited
Tata Capital Finance Limited
Fullerton India Credit Company Limited
Bank / FinancerDhanlaxmi Bank
Change Bank
SBI
Change Bank
PNB
Change Bank
Axis Bank
Change Bank

Applicable Rate of Interest With 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 Collateral For 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 collateral For 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 Fee Nil
Up to INR 4 Lacs: Nil
Above INR 4 Lacs: INR 5000
Nil
Nil
Repayment Period N.A.
15 years
15 years
7 years
Loan for top institutions No
Yes, SBI Scholar Loan Scheme
Yes, PNB Pratibha
No
Margin For 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 Limit 18 years
no age limit
No age limit
No
Loan Security Up 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/ST No
No
50% for SC/ST, and;60% for General category.
No
Processing Time N.A.
20 days
15 days
14 Days
Prepayment charges Nil
Nil
Nil
Nil
Penal charges Nil
Penal interest @ 2% to be charged for loans above Rs.4 lacs for the overdue amount and overdue period
Nil
@ 2% per month on the overdue installment/s
Mandatory insurance cover Not mandatory
Yes
yes
yes
Travel expeneses Yes
yes
yes
yes
Bank transfter allowance No
available
available
No such clause mentioned
Top up loan availability No
yes
available
unavailable
Interest Subsidy Schemes CSIS
Skill loan
Padho Pardesh
Padho Pardesh
CSIS
Skill Loan Scheme
Padho Pardesh
CSIS
Skill Loan Scheme
CSIS
Tax benifit Yes
yes
yes
yes
Concession/benefits No 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
SHOW MORE

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.

Don’t miss any update from us

Please enter a valid email.

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.

Central Scheme of Interest Subsidy (CSIS)
  • The gross annual parents’ income should be less than INR 4.50 Lacs
  • Repayment of the loan has to be done after 12 months of course completion or 6 months after getting the job (whichever is earlier).

This scheme is applicable for technical and professional courses from govt. recognized institutes for courses after class XII.

Under IBA education loan scheme, the maximum loan limit is INR 10 Lacs.

Eligibility:

The subsidy is provided for a moratorium period of 1 year after course completion or 6 months after getting a job (whichever is earlier). After this, the loan amount should be paid in accordance with the education loan scheme.

Scheme Applicable Year:

  • This scheme is implemented in the academic year 2009 – 2010 from April 1, 2009.
  • Loan disbursed after April 1,2009, irrespective of the date of sanction shall only be covered under the scheme.
  • In case of loans sanctioned prior to April 1, 2009, for the courses beginning prior to the academic year 2009-10, the interest subsidy is available to the extent of disbursements made after April 1, 2009.

Canara Bank has been appointed as the nodal bank by the government to facilitate this scheme.

Skill Loan Scheme
Some additional benefits of Skill Loan Scheme include concession of 1% for the full tenure of the loan, if the interest charged is serviced promptly as and when applied during the period of the moratorium and including during the period of the course.

Padho Pardesh

Procedure for availing Padho Pradesh

  • Students are supposed to inform their lending banks about the recently launched scheme of Padho Pardesh by Ministry of Minority Affairs.
  • Then the students have to submit the proof of their eligibility for the particular scheme
  • If a student is eligible, the lending bank will feed the students information into a portal of Padho Pardesh.
  • The portal will remain open for the period of two months in every quarter.

Courses covered under Padho Pardesh Scheme

Courses that are covered by Government of India under this scheme are as follows:

Arts/ Humanities/ Social SciencesCommerce
Pure ScienceEngineering
Bio- technology/ Genetic EngineeringIndustrial Environmental Engineering
Nano- technologyMarine Engineering
Petro-chemical EngineeringPlastic Technology
Cryogenic EngineeringMechatronics
Automation Robotics including artificial intelligenceLaser Technology
Low Temperature Thermal DynamicsArt Restoration Technology
OptometryDock and Harbour Engineering
Imaging System TechnologyComposite Materials Engineering including Decentralized power
Packaging Engineering/ TechnologyNuclear Engineering
Information Technology including Computer Engineering, Software, Software Quality assurance, etc.Industrial Safety Engineering
MedicalAgriculture & Agro Technology
AgronomyFloriculture & Landscaping
Forestry & Natural ResourcesFood Sciences & Technology
Plant PathologyHorticulture
Energy StudiesFarm Power & Machinery
Veterinary SciencesSoils & Water Management
Plant Breeding & GeneticsSmall- scale Rural Technology
Ocean & Atmospheric SciencesMB/MCA
SHOW MORE