Dhanlaxmi Bank Education Loan

Dhanlaxmi Bank Education Loan

Dhanlaxmi Bank Education Loan Summary Table

Dhanlaxmi Bank Education Loan Limit For India – INR 10 Lacs For Abroad – 20 Lacs
(Up to ₹ 7.5 lakh without collateral)
Dhanlaxmi  Bank Education Loan Interest Rate 9.65% per annum
Dhanlaxmi Bank Education Loan Margin For loan above INR 4 Lacs In India: 5%
In abroad: 15%
Dhanlaxmi Bank Education Loan Processing Fee Up to INR 4 Lacs: NilAbove INR 4 Lacs: INR 5000
Dhanlaxmi  Bank Education Loan Security Up to 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
Dhanlaxmi  Bank Education Loan Repayment Starts After 1 year of course completion or 6 months after getting a job

Dhanlaxmi Bank Education Loan Features

Education loans are an important requisite for students these days. They help students in joining top colleges of their choice by giving them financial aid. The loan can be used to cover the tuition fees, hostel charges, living expenses etc. according to the needs of the students. Dhanlaxmi Bank provides education loans to students in need of them. Any student can apply for the Dhanlaxmi Bank education loan by following the simple steps and submitting the required documents.

Dhanlaxmi Bank Education Loan Eligibility

Parameters  Eligibility Criteria
Applicant’s Age
  • Non-employed personnel: Up to 35 years
  • Working employees / Executives: Up to 45 years
Who Can Apply?
  • An Indian National: With secured admission to professional/technical courses in recognized institutions.
  • Permanent employees: Who are employed for not less than three years with any organization and have secured admissions in a reputed institute or who intend to acquire higher professional qualifications.
Maximum Loan Amount
  • For studies in India: Up to Rs. 1,000,000
  • For studies Abroad: Up to Rs. 2,000,000
  • For studies at IIT’s, IIM’s and ISB’s: Upto Rs. 4,000,000
Frequency Of Repayment
  • Quarterly or monthly rests.
  • Starts 1 year after completing the course of six months after getting a job, whichever is first.
  • Loan interest re‐payment will start immediately after disbursement of the first instalment of the loan.
Repayment Period
  • Tenure: Education Loan consists of Duration of Study, Grace Period after the Study, and Repayment Period.
  • For Indian courses: Repayment tenure is a maximum of 12 years after the commencement of repayment.
  • For Abroad courses: Repayment tenure is a maximum of 12 years after the commencement of repayment.

Dhanlaxmi Bank Education Loan Interest Rate

Dhanlaxmi Bank Education loan interest rates range from 8.85% and 10.75%.

Loan Amount Range Courses in India Courses Abroad IIT, IIM, ISB Courses
Loans up to Rs. 4 lakh 10.50 %, for Girls – 10.00% 10.50 %, for Girls – 10.00% 8.85 %
Loans Rs. 4.0 – 7.5 lakh 10.50 %, for Girls – 10.00% 10.50 %, for Girls – 10.00% 8.85 % – 10.00%
Loans > Rs. 7.5 lakh 10.75 %, for Girls – 10.25% 10.75 %, for Girls – 10.25% 8.85 % – 10.00%

Dhanlaxmi Bank Education Loan Schemes with detailed features, documents, max loan, courses

Schemes Maximum Loan Amount Interest Rates
Dhanlaxmi Bank Student Loan Rs.20 lakh 10.05%
Dhanlaxmi Bank Scholar Loan Rs.40 lakh 8.95% to 9.25%
Dhanlaxmi Bank Global ED-Vantage Rs.1.5 crore 10.05%
Dhanlaxmi Bank Skill Loan Rs.1.5 lakh 9.55%
Dhanlaxmi Bank Take Over of Education Loan Rs.1.5 crore 10.05%

Dhanlaxmi Bank Education Loan Documents Required

Under Know Your Customer Policy (KYC), the bank requires certain documents. These documents are required from both the student and co-borrower:

Identity Proof One of any mentioned document for Identity proof:
  • Passport
  • PAN Card
  • Aadhaar Card
  • Voter’s ID Card
  • Driving Licence
  • Photo Credit Card
  • Central and State Govt. issued Photo ID Proof
  • Defense ID Card.
Residence Proof One of the following documents for Residence proof (It should not more than 3 months old):
  • Aadhaar Card
  • Ration Card
  • Passport
  • Bank Account Statement
  • Voter’s ID Card
  • Letter from any recognized public authority
  • Telephone Bill
  • Electricity Bill
  • Water Bill
Income Proof in case of salaried co-borrower
  • Salary Slips (not more than 3 months old)
  • Bank Statements (not more than 3 months old)
  • ITR
  • Form-16 (for the last 2 years)
  • bank account statement (for the last 6 months of salary account)
Income proof for self-employed co-applicant
  • Business address proof
  • IT returns for the last two years (If IT payee)
  • TDS certificate
  • Form 16A if applicable
  • Certificate of qualification (for CA, doctor, and other professions)
  • Bank account statement for the last 6 months.

Additional documents: Aside from KYC documents:

  Student Applicant Mandatory Passport submission
Academic Records: X, XII grade results. Graduation results semester wise. Entrance Exam results that formed the basis of admission
Proof of admission: A conditional application letter may be considered
Cost of education, schedule of expenses.
2-passport size photographs
If the loan was taken out before then loan account statement for the last 1 year.
Co-applicant 2-passport size photographs
If the loan was taken out before then loan account statement for the last 1 year.

Dhanlaxmi Bank Education Loan Offered Courses

The Education Loan covers courses that are just customary full-time Degree or Diploma courses that the understudy made sure about through choice or legitimacy. Dhanlaxmi Bank Education Loan likewise considers Full-time Executive Management Courses like PGPX.

EMI Calculator

Dhanlaxmi Bank Education Loan EMI Calculator

Dhanlaxmi Bank: Takeover of Education Loan

An Education Loan is Transferable, it is fundamentally a cycle of moving high-intrigue obligation starting with one then onto the next bank and with a lower financing cost and better reimbursement strategies.

The Dhanlaxmi Bank Takeover Of Collateralised Education Loans Scheme can be benefited at a financing cost of 1Year MCLR + 1.50% spread. Dhanlaxmi likewise gives a 0.50% concession in the loan cost for young ladies.

How To Apply For Dhanlaxmi Bank Education Loan

  • Visit Dialabank for an education loan.
  • Go to the Dhanlaxmi Bank Education Loan page.
  • Check out all the eligibility and documents criteria for an education loan.
  • Fill out all the details required in the Education Loan application form.
  • Once done, our representative will soon contact you for a further stress-free process.

List of Approved Institutes

  • Architecture college
  • Law college
  • Medical college
  • Pharmacy college
  • Engineering college
  • Bio-technology
  • college
  • Management college
  • Science, Commerce, and Arts college
  • Physical education college
  • B.ED college