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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.

  • 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.

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
  • 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
  • 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.

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  
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