Pradhan Mantri Vidya Lakshmi Scheme Apply Online

Pradhan Mantri Vidya Lakshmi Scheme Apply Online:
Ministry of Finance, Government of India
Department of Higher Education
Collaboration with Indian Banks Association (IBA), NSDL e-Gov, and Department of Financial Services

Pradhan Mantri Vidya Lakshmi Scheme Apply Onlineob Location:
All India (Online Portal)

Employment Type: Pradhan Mantri Vidya Lakshmi Scheme Apply Online:
Education Loan Scheme (Central Government Financial Assistance)

Date Posted: Pradhan Mantri Vidya Lakshmi Scheme Apply Online
13 May 2025 Pradhan Mantri Vidya Lakshmi Scheme Apply Online

Application Deadline: Pradhan Mantri Vidya Lakshmi Scheme Apply Online
31 December 2025 (Tentative)

Timeline Pradhan Mantri Vidya Lakshmi Scheme Apply Online

Event	Tentative Date
Application Start Date	01 April 2025
Last Date to Apply	31 December 2025
Processing Duration	Within 30–45 working days
Loan Disbursement	Upon verification and sanction

Job Description / Overview: Pradhan Mantri Vidya Lakshmi Scheme Apply Online

The Pradhan Mantri Vidya Lakshmi Scheme (PMVLS) is a flagship initiative by the Government of India to empower meritorious students from economically weaker sections by providing access to education loans through a single online portal – www.vidyalakshmi.co.in.

Under this scheme, students can apply for multiple education loans, track the loan status, and avail of educational finance from various nationalized and private banks across India — all through one integrated platform.

About Vidya Lakshmi Portal Pradhan Mantri Vidya Lakshmi Scheme Apply Online

Launched by the Ministry of Finance, Department of Higher Education, and developed by NSDL e-Governance Infrastructure Ltd, the Vidya Lakshmi Portal (VLP) aims to ensure “Education for All” by streamlining the process of acquiring educational loans.

Key Stakeholders: Pradhan Mantri Vidya Lakshmi Scheme Apply Online

Ministry of Finance
Department of Higher Education
Indian Banks’ Association (IBA)
NSDL e-Governance
40+ Banks offering loan schemes

Scheme Objectives: Pradhan Mantri Vidya Lakshmi Scheme Apply Online

One-stop platform for students seeking education loans.
Transparency in loan application and disbursement process.
Reduce paperwork and eliminate the need to visit multiple banks.
Provide access to loan schemes from government and private banks.
Track application status and communicate with banks online.

Eligibility Criteria: Pradhan Mantri Vidya Lakshmi Scheme Apply Online

To apply for an education loan under the Pradhan Mantri Vidya Lakshmi Scheme, applicants must fulfill the following:

Indian nationality.
Secured admission to a recognized institution in India or abroad.
Courses eligible: Higher education including professional, technical, and degree/diploma programs.
Students from low-income or middle-income families (proof of income required).
Co-applicant (parent/guardian) may be required.

Courses Covered: Pradhan Mantri Vidya Lakshmi Scheme Apply Online

Undergraduate and postgraduate programs
Technical/diploma courses
Professional studies (engineering, medical, law, management, etc.)
Courses approved by UGC/AICTE/Government/Accredited bodies

Loan Features & Benefits: Pradhan Mantri Vidya Lakshmi Scheme Apply Online

Feature	Details
Minimum Loan Amount	₹ 50,000 (varies by bank)
Maximum Loan Amount	Up to ₹ 7.5 Lakhs (India), ₹ 20 Lakhs (Abroad)
Interest Subsidy	Available under specific schemes
Moratorium Period	Course duration + 1 year or 6 months post-job
Repayment Tenure	Up to 15 years (bank dependent)
Margin Money	Nil up to ₹4 Lakhs
Collateral Requirement	Depends on loan amount and bank policy

How to Apply for Vidya Lakshmi Loan Online

Follow the step-by-step process:

1. Registration

Visit www.vidyalakshmi.co.in
Register using valid email ID and mobile number
Create a user ID and password

2. Filling Common Education Loan Application Form (CELAF)

Complete the CELAF with academic, financial, and personal details
Upload required documents

3. Choose Bank & Scheme

Select from up to 3 banks and loan schemes
Submit your application

4. Track Application Status

Documents Required : Pradhan Mantri Vidya Lakshmi Scheme Apply Online

Document	Description
Proof of Identity	Aadhaar card, PAN card, Passport
Proof of Address	Utility bill, Voter ID, Aadhaar
Admission Letter	From recognized institution
Academic Records	Marksheets of 10th, 12th, and qualifying exams
Fee Structure	Provided by institution
Income Certificate	For availing subsidies
PAN of Applicant/Co-applicant	Mandatory for loan processing

Participating Banks : Pradhan Mantri Vidya Lakshmi Scheme Apply Online

More than 40+ banks are integrated with the Vidya Lakshmi Portal, including:

State Bank of India (SBI)
Punjab National Bank (PNB)
Bank of Baroda
Canara Bank
HDFC Bank
Axis Bank
ICICI Bank
And many more…

Interest Subsidy Schemes : Pradhan Mantri Vidya Lakshmi Scheme Apply Online

Special provisions for economically disadvantaged students:

1. Central Sector Interest Subsidy Scheme (CSIS)

Full interest subsidy during moratorium period
Annual parental income < ₹4.5 Lakhs
Available for professional/technical courses in India

2. Dr. Ambedkar Central Sector Scheme

For OBC/EBC/SC/ST students
Covers interest subsidy for studies abroad

Portal Benefits at a Glance: Pradhan Mantri Vidya Lakshmi Scheme Apply Online

Single-window platform for education loans
Apply to multiple banks with one form
Transparent and real-time updates
Secure and reliable interface
Helps compare loan offers from various banks
Assistance for students in rural/remote areas

Important Instructions for Applicants : Pradhan Mantri Vidya Lakshmi Scheme Apply Online

Maintain only one active application per student.
Ensure all documents are valid and updated.
Respond to bank queries promptly via the portal.
Always check spam folder for official email communication.

Impaortants Links-

Action	Link
Apply Online	Click Here
Already Registerd Candidate Login	Click Here
Download Notification	Click Here
Join Our Social Media account	Whatsapp \|\| Telegram
Visit Official Website	Visit Official Website

Pradhan Mantri Vidya Lakshmi Scheme Apply Online

Frequently Asked Questions (FAQs)

✅ What is Vidya Lakshmi Portal?

An online single-window platform to apply for education loans from multiple banks using a unified form.

✅ Can I apply to more than one bank?

Yes, you can apply to up to 3 banks at once.

✅ Is there any fee to register or apply?

No, the Vidya Lakshmi Portal is completely free for students.

✅ Can I get loans for studying abroad?

Yes, loans for overseas education (up to ₹20 lakhs or more) are available.

✅ Do I need a PAN card?

Yes, PAN card is mandatory for both applicant and co-applicant.