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.

Features

Eligibility

Security

Documentation

Fees&Charges

Apply

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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Education Loan