PM Vidya Lakshmi Education Loan Scheme

About the Scheme

The PM Vidya Lakshmi scheme is the Government of India’s flagship education financing program. It provides a single-window digital platform for students to apply to multiple banks for education loans and government scholarships.

Key Features

• Single application form for multiple banks
• Loans up to ₹7.5 lakh without collateral
• Subsidized interest rates for economically weaker sections
• Moratorium period during study + 1 year
• Tax benefit under Section 80E

Eligibility Criteria

• Indian citizen
• Admitted to a recognized course at a recognized institution
• No age bar for most schemes
• Income criteria vary by sub-scheme

Documents Required

• Aadhaar card
• Admission letter from institution
• Mark sheets (10th, 12th, graduation if applicable)
• Income certificate
• Bank account details

How to Apply

Register on the Vidya Lakshmi portal (vidyalakshmi.co.in), complete the Common Education Loan Application Form (CELAF), and apply to multiple banks simultaneously.

Coverage

The loan covers tuition fees, hostel fees, examination fees, books and equipment, travel expenses for study abroad programs.