Vidya Lakshmi Education Loan: Schemes, Eligibility & Repayment Details

The Department of Financial Services (Ministry of Finance), Indian Banks Association (IBA), and Department of Higher Education (Ministry of Education) developed the Vidya Lakshmi portal, where students seeking higher education can apply for education loans. Students can view, apply for, and track education loan applications to multiple banks anytime. They can access the portal anytime and anywhere.

This Story also Contains

1. Features of Vidya Lakshmi Portal
2. How to Apply for Vidya Lakshmi Education Loan?
3. List of Registered Banks for Vidya Lakshmi Education Loan

Suppose students want to apply for an education loan on the Vidya Lakshmi portal. In that case, they must register, fill out the application form, and apply for the education loan on the portal. Candidates are required to provide essential details mentioned in the registration form. Read the article to learn more about the Vidya Lakshmi education loan.

Features of Vidya Lakshmi Portal

Students can access information on a single window on the Vidya Lakshmi portal. They can also make an application for educational loans provided by banks and govt scholarships. The Vidya Lakshmi education loan portal offers the following features -

• Apply to multiple banks for educational loans

• Information about educational loan schemes of banks

• Facility for banks to download student loan applications

• Linkage to national scholarship portal for information and application for govt scholarships

• Facility for banks to upload loan processing status

• Common educational loan application form for students

• Facility for students to email grievances/queries relating to educational loans to banks

How to Apply for Vidya Lakshmi Education Loan?

• Step 1: Visit the official website at vidyalakshmi.co.in to register.

• Step 2: Click on the “Register Now” link on the homepage.

• Step 3: Fill in the required details like first name, last name, mobile number, email ID, password, etc., and enter the captcha.

• Step 4: Click on the “I agree to the terms and conditions” check box.

• Step 5: Now, click on the “Submit” button.

• Step 6: You will now be registered.

• Step 7: Click on the “Login” button and enter the credentials.

• Step 8: Fill up the single form.

• Step 9: Students can apply for educational loans to multiple banks.

Guidelines for Registering on the Vidya Lakshmi Portal

• Candidates must ensure that the registration details filled in are accurate and correct.

• They must enter the password as per the prescribed format.

• Students must enter their name as per the 10th class marksheet or as per the marksheet attached to the education loan application.

• They need to enter a valid mobile number. Students can provide the mobile numbers of their parents/guardians.

• Candidates are required to enter a valid email ID. The email ID once entered will not be allowed to change. All necessary information or notices regarding the educational loan will be sent to this email ID.

List of Registered Banks for Vidya Lakshmi Education Loan

• Kerala Bank

• Bank of Baroda

• HDFC Bank

• IDBI Bank

• State Bank of India

• Bank of India

• UCO Bank

• Axis Bank

• RBL Bank

• Union Bank of India

• Indian Bank

• Central Bank of India

• Karur Vysya Bank

• Syndicate Bank

• Tamilnad Mercantile Bank Ltd

• Canara Bank

• J&K Bank

• Federal Bank

• New India Bank

• Andhra Pradesh Grameena Bank

• GP Parsik Bank

• Punjab National Bank

• Indian Overseas Bank