Vidya Lakshmi Education Loan Portal
The Vidya Lakshmi Portal is a government-initiated platform that helps students easily access and apply for education loans from multiple banks in India. It was launched by the Ministry of Finance in collaboration with the Indian Banks’ Association (IBA) and the National Securities Depository Limited (NSDL).
Key Features of Vidya Lakshmi Portal
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Single-Window Access – Students can apply to multiple banks for education loans through one platform.
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Transparent Process – Tracks loan application status in real time.
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Schemes from Multiple Banks – Includes loans from public & private sector banks.
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Scholarship Information – Provides details on various government scholarships.
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No Processing Fee – The portal itself does not charge any fees.
Eligibility Criteria
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Indian nationals pursuing higher education in India or abroad.
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Courses recognized by UGC/AICTE/IMC/Government bodies.
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Admission confirmation from a recognized institution.
How to Apply?
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Register on www.vidyalakshmi.co.in
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Fill the Common Education Loan Application Form (CELAF).
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Choose Banks (up to 3 banks can be selected).
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Upload Documents (marksheets, admission letter, fee structure, etc.).
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Track Status online.
Documents Required
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Proof of admission
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Academic records
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ID & address proof
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Income proof of co-borrower (usually parents/guardian)
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Collateral details (for loans above ₹7.5 lakhs)
Loan Coverage
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Tuition fees
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Hostel & exam fees
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Travel expenses (for abroad studies)
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Other related expenses
Interest Rates & Repayment
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Varies by bank (typically 8% – 12% p.a.).
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Repayment starts after course completion (moratorium period of 6-12 months).
Benefits
✅ No need to visit multiple banks physically.
✅ Faster processing compared to traditional methods.
✅ Government-backed secure platform.
For more details, visit: Vidya Lakshmi Portal
Would you like help with the application process or finding specific bank schemes?
