Make college memories that last a lot longer than your student loan payments.

Dhanalakshmi Bank Education Loan

Dhanlaxmi Bank education loan offers a comprehensive financial solution to meet a wide range of expenses related to higher education, whether it is to purchase books or even computers that are needed for the course. The loan has attractive interest rates and minimal documentation that makes higher education accessible to all. There are also other beneficial factors, such as no processing or prepayment charges, that make it an affordable and convenient option for those considering studying in India or abroad.

Dhanlaxmi Bank Education Loan Interest Rates

Dhanlaxmi Bank’s education loan interest rates are based on the Repo Linked Lending Rate (RLLR) and are floating rate. They vary according to the credit rating of the applicant. Interest rates are different for loans with and without subsidy as well. Here are the interest rates effective from 1 October 2020:

Credit Rating Dhanlaxmi Education Loan Interest rate without subsidy Dhanlaxmi Education Loan with Interest rate subsidy (above 1-year tenure)
AAA 11.85% 10.50%
AA 12.20% 10.85%
A 12.65% 11.30%
BBB 13.10% 11.75%
BB 13.35% 12.00%
B 13.55% 12.20%
C 13.95% 12.60%
Unrated 14.45% 13.10%
Unrated (Rs.2 lakh and below limit) 12.65% 11.30%

Dhanlaxmi Bank Education Loan EMI Calculator

The BankBazaar Education Loan EMI Calculator will help you get a clear picture of what your Equated Monthly Instalment (EMI) will be. This will help you better manage your finances which will be helpful for any student. The EMI calculator is a free online tool that tells you precisely how much your EMI, total principal outstanding amount, and interest amount will be. All you have to do is enter your desired loan amount, loan repayment tenure, and interest rate that is applicable for you.

The example given below is based on a loan amount of Rs.5 lakh, assuming the lowest Dhanlaxmi Bank education loan interest rate of 10.50% p.a., and a repayment tenure of 15 years.

Monthly EMI: Rs.10,747

Total interest due: Rs.1,44,817

Total amount payable: Rs.6,44,817

Year Principal Paid (A) (Rs.) Interest Paid (B) (Rs.) Total Payment (A+B) (Rs.) Outstanding Loan Balance (Rs.)
2020 12,800 8,694 21,494 4,87,200
2021 81,665 47,299 1,28,964 4,05,537
2022 90,663 38,299 1,28,962 3,14,874
2023 1,00,655 28,309 1,28,964 2,14,220
2024 1,11,746 17,216 1,28,962 1,02,474
2025 1,02,473 4,996 1,07,469 0

DHANLAXMI Bank Education Loan Documents Required

The documents required to apply for Dhanlaxmi Bank education loan are as given below:

  • Photocopies of all the certificates from previous examinations (SSC onwards
  • Certificate from the college or university attesting that the student is continuing education; this is to be submitted on an annual basis

Dhanlaxmi Bank Education Loan Scheme for Students

Details of the scheme are as given below:

  • Interest Rate Range: 10.50% to 14.45%
  • Processing Fees: Nil
  • Collateral: Up to Rs.4 lakh: None
  • Eligibility:
    • For studies in India: Indian national, below or above 18 years of age
    • For studies abroad: Indian national over 18 years of age along with the following:
      • Copy of the result of the mandatory qualifying examination
      • Proof of admission to the university or college
      • Valid passport
      • Copy of the visa or Form I-20


  1. What are the courses that are eligible under the Dhanlaxmi Bank education loan for courses abroad?

    For the undergraduate courses the following courses are eligible: Natural and biological sciences, engineering, and computer sciences. For post-graduate courses, the courses that are eligible for the undergraduate level as well as business administration.

  2. What duration of courses are eligible for the Dhanlaxmi Bank education loan?

    For studies in India, courses can have a duration of up to 5 years. For courses abroad, the duration of the course can be up to 3 years.

  3. Is there a moratorium period for Dhanlaxmi Bank education loans?

    Yes, there is a moratorium period for Dhanlaxmi Bank education loans which is equivalent to the duration of the course plus six months or getting employment, whichever is earlier.

  4. What are the courses I can do in India that are eligible under Dhanlaxmi Bank’s education loan scheme?

    The courses that are eligible in India are graduate and post-graduate degree or diploma courses in engineering, computer science, medicine, pharmacy, dental science, agricultural and veterinary sciences. For the post-graduate level, courses in general science, arts, management, and commerce from recognized universities and colleges are eligible. Also eligible are post-graduate diplomas in computer applications from NIIT, BITECH, APTECH, SSI, and other reputed institutes.

  5. Are co-applicants allowed for the Dhanlaxmi Bank education loan?

    Yes, parents can be the co-applicants of Dhanlaxmi Bank education loan.

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