Education and Career Forum

Respected Sir,
I want to take an Education Loan from Dhanlaxmi Bank to do Abroad studies. I would like to know that how much amount they take as a Collateral Security under Education Loan scheme? Please let me know immediately.

To get an Education loan from Dhanlaxmi Bank for pursuing your studies in Abroad, you must have to submit the below mentioned security documents :-

--> Up to Rs. 4 lakhs :- No security
--> Above Rs. 4 lakhs :- Collateral in the form of a satisfactory guarantee
--> Collateral Security can be approved shares/ insurance policies with surrender value, national savings certificates, IVP, Bank deposits etc. or documents related to land or building worth equivalent to loan amount offered by Bank.

The amount of collateral security for education loan depends on the loan amount which you are seeking as education loan. For loan below 4.5 lakhs, 10% of the loan amount is required as collateral security, for loan between 4.5 and 7.5 lakhs, 15% of the loan amount is required as collateral security along with third party guarantor and for loan above 7.5 lakhs, 20% of the loan amount is required as collateral security along with third party guarantor and mortgage of property.