Education and Career Forum

Sir, I am studying in 2nd year of engineering course but suffering from financial crisis. So, I have decided to apply for an education loan at Laxmi Vilas Bank. Please tell me what is the interest rate charges and requirements for it?

Originally Posted by Unregistered

Sir, I am studying in 2nd year of engineering course but suffering from financial crisis. So, I have decided to apply for an education loan at Laxmi Vilas Bank. Please tell me what is the interest rate charges and requirements for it?

Requirements to get an education loan from Lakshmi Vilas Bank are given below;

Applicant should have secured admission to professional or technical courses in India or abroad countries through entrance examination or merit based selection process after completion of 10+2 or equivalent.

The applicant should be an Indian citizen

There is no margin for a loan of up to Rs 4 Lakhs

Parents to be joint borrowers for the education loan

Admission proof and Fee structure of the course to be submitted

ID proof and address proof

Proof of Income – last three months salary slip and last six months bank statement

Academic records, including mark sheets, examination/degree/diploma certificate, etc.

Testimonials from two teachers/professors of the college/school last studied

Applicant should contact the Lakshmi Vilas Bank branch for exact rate of interest for an education loan. It is around 13 to 14% approximately.