Welcome to PM-Vidyalaxmi
Portal for applying Education Loan

PM-Vidyalaxmi is a Unified Portal for the students to apply for education loan provided by
scheduled commercial banks, co-operative banks, RRBs & private banks and submit application
for Educational Loan & Interest Subvention.

3 simple steps to apply for an educational loan

PM-Vidyalaxmi is a Unified Portal for students who want to apply for Education Loan & Interest Subvention.

Registration

Students want to apply for education loan on PM-Vidyalaxmi portal, you must register on portal. Please provide essential details as mentioned in registration form.

Fill Up Single Form

Students have to fill Common Education Loan Application Form by providing all the necessary details. After filling the form, the applicant can search for Educational Loan and APPLY as per his/her needs, eligibility and convenience.

Submit Application to Bank

Students can submit application to bank for Educational Loan as per his/her needs, ease and convenience.

Loan Santiocned

Applications Loan Amount

40

₹ 6.14 Crores

Loan Disbursed

Applications Loan Amount

7

₹ 0.23 Crores

Interest Subvention

Students Benefited Subvention Amount

0

Rs. 0
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PM-Vidyalaxmi Scheme Key Details

This government initiative aims to provide financial assistance to deserving students, ensuring that financial constraints do not hinder access to higher education.

General Details

PM-Vidyalaxmi is an initiative that stems out of the National Education Policy (NEP 2020). The policy recommended that financial assistance should be made available to meritorious students through various measures in both public and private HEIs.

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Credit Guarantee

Under this scheme, students can avail loans of up to Rs 7.5 lakh with a 75% credit guarantee, making it easier for students to get loans without collateral or guarantors.

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Interest Subvention

For students with up to Rs. 8 lakhs annual family income, the scheme will also provide for 3% interest subvention on loans up to Rs 10 lakh.

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Full Interest Subvention

Students from families earning up to Rs 4.5 lakh annually will receive full interest subvention.

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Eligible Institute/College

The scheme will be available to students enroling in the Eligible Quality Higher Education Institutions (QHEIs) in India, as per the National Institutional Ranking Framework (NIRF).

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Simplified Digital Process

Applications for loans and interest subventions are processed through a unified, student-friendly PM-Vidyalaxmi portal. The system is fully digital, ensuring transparency and ease of use. Disbursements are made via Digital Rupee wallet.

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Education loan schemes with Leading Banks in India

Leading Banks in India (Scheduled Banks/Regional Rural Banks (RRBs)/Cooperative Banks) are instrumental in helping students achieve their academic goals by providing extensive education loans.
These loans cater to both domestic and international studies.

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PM-Vidyalaxmi in news

09 Nov, 2024

PM-Vidyalaxmi Scheme: Check who is eligible for financial support scheme

PM-Vidyalaxmi Scheme: This initiative will complement the Central Sector Interest Subsidy (CSIS) and the Credit Guarantee Fund Scheme for Education Loans (CGFSEL), both part of the PM-USP, overseen by the Department of Higher Education.

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12 Nov, 2024

PM-Vidyalaxmi: A partial solution to India's big education loan demand.

The scheme promises student loan support, but with a budget covering only a fraction of the demand, it's a limited step towards making higher education more accessible

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06 Nov, 2024

Cabinet approves PM-Vidyalaxmi scheme to provide financial support to meritorious students

The Cabinet has approved the PM-Vidyalaxmi scheme to support youngsters with quality education. It is a significant step towards empowering the Yuva Shakti and building a brighter future for our nation.

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