Lakshmi Vilas Bank Education Loan Summary Table
| Lakshmi Vilas Bank Education Loan Amount | For India – INR 10 Lacs For Abroad – 20 Lacs (Up to ₹ 7.5 lakh without collateral) |
| Lakshmi Vilas Bank Education Loan Interest Rate | 9.65% per annum |
| Lakshmi Vilas Bank Education Loan Margin | For loan above INR 4 Lacs In India: 5% In abroad: 15% |
| Lakshmi Vilas Bank Education Loan Processing Fee | Up to INR 4 Lacs: Nil Above INR 4 Lacs: INR 5000 |
| Lakshmi Vilas Bank Education Loan Security | Up to 7.50 Lacs: Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee Above INR 7.50 Lacs: Tangible security along with parents as co-borrower |
| Lakshmi Vilas Bank Education Loan Repayment | Starts After 1 year of course completion or 6 months after getting a job |
Lakshmi Vilas Bank Education Loan Features 
Education loans are an important requisite for students these days. They help students in joining top colleges of their choice by giving them financial aid. The loan can be used to cover the tuition fees, hostel charges, living expenses etc. according to the needs of the students. Lakshmi Vilas Bank provides education loans to students in need of them. Any student can apply for the Lakshmi Vilas Bank education loan by following the simple steps and submitting the required documents.
Lakshmi Vilas Bank Education Loan Eligibility
| Parameters | Eligibility Criteria |
| Applicant’s Age |
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| Who Can Apply? |
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| Maximum Loan Amount |
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| Frequency Of Repayment |
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| Repayment Period |
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Lakshmi Vilas Bank Education Loan Interest Rate
Lakshmi Vilas Bank Education loan interest rates range from 8.85% and 10.75%.
| Loan Amount Range | Courses in India | Courses Abroad | IIT, IIM, ISB Courses |
|---|---|---|---|
| Loans up to Rs. 4 lakh | 10.50 %, for Girls – 10.00% | 10.50 %, for Girls – 10.00% | 8.85 % |
| Loans Rs. 4.0 – 7.5 lakh | 10.50 %, for Girls – 10.00% | 10.50 %, for Girls – 10.00% | 8.85 % – 10.00% |
| Loans > Rs. 7.5 lakh | 10.75 %, for Girls – 10.25% | 10.75 %, for Girls – 10.25% | 8.85 % – 10.00% |
Lakshmi Vilas Bank Education Loan Schemes with detailed features, documents, max loan, courses
| Schemes | Maximum Loan Amount | Interest Rates |
| Lakshmi Vilas Bank Student Loan | Rs.20 lakh | 10.05% |
| Lakshmi Vilas Bank Scholar Loan | Rs.40 lakh | 8.95% to 9.25% |
| Lakshmi Vilas Bank Global ED-Vantage | Rs.1.5 crore | 10.05% |
| Lakshmi Vilas Bank Skill Loan | Rs.1.5 lakh | 9.55% |
| Lakshmi Vilas Bank Take Over of Education Loan | Rs.1.5 crore | 10.05% |
Lakshmi Vilas Bank Education Loan Documents Required
Under Know Your Customer Policy (KYC), the bank requires certain documents. These documents are required from both the student and co-borrower:
| Identity Proof | One of any mentioned document for Identity proof:
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| Residence Proof | One of the following documents for Residence proof (It should not more than 3 months old):
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| Income Proof in case of salaried co-borrower |
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| Income proof for self-employed co-applicant |
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Additional documents: Aside from KYC documents:
| Student Applicant | Mandatory Passport submission |
| Academic Records: X, XII grade results. Graduation results semester wise. Entrance Exam results that formed the basis of admission | |
| Proof of admission: A conditional application letter may be considered | |
| Cost of education, schedule of expenses. | |
| 2-passport size photographs | |
| If the loan was taken out before then loan account statement for the last 1 year. | |
| Co-applicant | 2-passport size photographs |
| If the loan was taken out before then loan account statement for the last 1 year. |
Lakshmi Vilas Bank Education Loan Offered Courses
The Education Loan covers courses that are only regular full-time Degree or Diploma courses that the student secured through selection or merit. Laxmi Vilas Bank Education Loan also considers Full-time Executive Management Courses like PGPX.
EMI Calculator
SBI Education Loan EMI Calculator
Lakshmi Vilas Bank: Takeover of Education Loan
An Education Loan is Transferable, it is basically a process of transferring high-interest debt from one lender to another lender and with a lower interest rate and better repayment policies.
The Lakshmi Vilas Bank Takeover Of Collateralised Education Loans Scheme can be availed at an interest rate of 1 Year MCLR + 1.50% spread. Lakshmi Vilas Bank also gives a 0.50% concession in the interest rate for girls.
How To Apply For Lakshmi Vilas Bank Education Loan
- Visit Dialabank for an education loan.
- Go to the Lakshmi Vilas Bank Education Loan page.
- Check out all the eligibility and documents criteria for an education loan.
- Fill out all the details required in the Education Loan application form.
- Once done, our representative will soon contact you for a further stress-free process.
List of Approved Institutes
- Architecture college
- Law college
- Medical college
- Pharmacy college
- Engineering college
- Bio-technology
- college
- Management college
- Science, Commerce, and Arts college
- Physical education college
- B.ED college
