Dhanalakshmi Bank Education Loan- Student Loan in India

Dhanalakshmi Bank Education Loan Scheme

Dhanlaxmi Bank Education Loan

Education loan is the most convenient way of supporting your child's education. You can now easily fund most education-related expenses including fees, boarding & lodging, air travel, insurance premiums, and computers etc.

Dhanlaxmi Bank Education Loan Features

  • Pay admission and tuition fee
  • Purchase books, study material, equipment and instruments
  • Pay hostel fees and boarding charges
  • For studies abroad, fund expenses of air travel, incidental charges, purchase of outfits (clothing & other equipment)
  • Fund other education-related expenses such as examination, library and laboratory fee, uniforms, caution deposit, building fund or refundable deposits supported by Institution bills and receipts, up to 10% of the total tuition fees for the entire course
  • Purchase computers needed for the course.
  • Insurance premium for student borrower
  • Any other expense in relation to the course - study tours, project work, thesis etc.

 

Dhanlaxmi Bank Education Loan Eligibility

For higher studies in India:

Students of Indian nationality (whether minor or major)

Parents can also apply jointly with the student and facilitate repayment through existing sources of income

Courses applicable:

Graduate and post-graduate degree/diploma courses in computer science, engineering, medicine, dental science, pharmacy, agricultural and veterinary sciences

Post-graduate courses in arts, general science, commerce, and management (from recognized colleges and universities)

Post graduate diploma in computer application from reputed institutes such as NIIT, APTECH, BITECH, SSI etc.

For studies abroad:

Indian National over 18 years of age

The applicant should produce a copy of the Result of Qualifying/ Mandatory examination such as TOEFL, SAT, GRE, AGRE, GMAT etc. together with a copy of valid passport, proof of Admission to the college or university and a copy of the Visa / Form I-20

Courses applicable (for courses abroad)

Under-graduate courses in biological & natural sciences, computer sciences, engineering

Post-graduate courses in the above disciplines and business administration (Applicants should submit a brief report on the prospects of the course.)

Academic background (for India and abroad)

Applicant/student should have passed the qualifying examination securing a position eligible for admission to the course opted for study.

Duration of course

Courses within India – 5 years

Courses abroad – 3 years

Holiday period

Duration of the course plus 6 months or getting a job, whichever is earlier

Dhanlaxmi Bank Education Loan Security

  • Up to Rs. 4 lakhs - No security
  • Above Rs. 4 lakhs - Collateral in the form of a satisfactory guarantee
  • Approved shares / insurance policies with surrender value, national savings certificates, IVP, Bank deposits etc. or collateral security such as land or building,  equivalent to loan amount accepted as security collateral      

Dhanlaxmi Bank Education Loan Documentation

  • Photocopies of all certificates from previous examinations (SSC onwards)
  • A certificate from the College/University authorities stating that the student is continuing education, should be submitted every year.

Dhanlaxmi Bank Education Loan Fees & Charges  


Description of Charges

Dhanlaxmi Bank

Comments

Loan Processing Charges

Nil

Prepayment

Nil

 

Pre-payment charges

Nil

 

No Due Certificate / No Objection Certificate (NOC)

Rs. 250/-

 

Duplicate no due certificate / NOC

Rs. 250/-

 

Capability Certificate

Rs. 250/-

Applicable to studies abroad

Charges for late payment of EMI

@ 24 % p.a on amount outstanding from date of default

 

Stamp Duty & other statutory charges

As per applicable laws of the state

 

Cheque swapping charges

Rs 500/- per event

 

Loan Re-booking charges / Re-scheduling charges

Not applicable

 

Loan cancellation charges

Not applicable

 

Cheque Bounce Charges

Rs. 500/- Per Cheque

 

Legal / incidental charges

At actual