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Vidya Lakshmi Education Loan & Scholarship Scheme

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Organisation : Department of Financial Services, (Ministry of Finance) , Department of Higher Education (Ministry of Human Resource Development) and Indian Banks’ Association (IBA)
Announcement : Vidya Lakshmi Education Loan & Scholarship Scheme
Home Page : https://www.vidyalakshmi.co.in/Students/

Vidya Lakshmi Education Loan

Vidya Lakshmi is a first of its kind portal for students seeking Education Loan.

Related / Similar Scholarship :
Vidya Lakshmi Loan Search

This portal has been developed under the guidance of Department of Financial Services, (Ministry of Finance) , Department of Higher Education (Ministry of Human Resource Development) and Indian Banks’ Association (IBA).

Students can view, apply and track the education loan applications to banks anytime, anywhere by accessing the portal. The portal also provides linkages to National Scholarship Portal.

How to Apply

3 Easy Steps:
Process for submission of loan application
i) Register
ii) Fill Up Single Form
iii) Apply to Multiple Banks

Create an Account

Please enter the following details for Registration,
1. Select your Title [Mr/Mrs/Miss]
2. Enter your First Name [Uthaya]
3. Enter Your Middle Name [Santhana]
4. Enter Your Last Name [Rubika]
5. Enter Your Mobile Number [9876543210]

6. Enter Your Email Id [abc@gmail.com]
7. Enter Your Password
8. Confirm Your Password
9. Enter the Captcha Image
10. Agree the Terms & Conditions and Click Submit button

Frequently Asked Questions

1. What are the features of Vidya Lakshmi Portal?
Vidya Lakshmi Portal provides single window for Students to access information and make application for Educational Loans provided by Banks and Govt Scholarships. It has the following features:

i). Information about Educational Loan Schemes of Banks
ii). Common Educational Loan Application Form for Students
iii). Apply to multiple Banks for Educational Loans
iv). Facility for Banks to download Students? Loan? Applications
v). Facility for Banks to upload loan processing status
vi). Facility for Students to email grievances/queries relating to Educational Loans to Banks
vii). Linkage to National Scholarship Portal for information and application for Govt Scholarships

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2. How can I apply for Educational loan through Vidya Lakshmi?
The applicant must register and login to Vidya Lakshmi portal and then fill-up the Common Education Loan Application Form (CELAF) 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.

Alternatively, the applicant can also search for Educational Loan after login and apply for the suitable Educational Loan by filling the CELAF.

3. What is Common Educational Loan Application Form (CELAF)?
The Common Educational Loan Application Form is the single form which students can fill to apply for Educational Loan to multiple banks / schemes. CELAF is the application form prescribed by Indian Banks Association (IBA) and accepted by all banks. This form is provided on Vidya Lakshmi portal to apply for Educational loan.

4. What is Sign up?
Students are required to complete ?Sign up? process to register on Vidya Lakshmi portal. Only Students who have completed ?Sign up? / ?Registration? process can apply for educational loan through Vidya Lakshmi portal.

5. What if I forget password of my Login ID?
You can click on ?Forgot password? option provided on the Login page of Vidya Lakshmi portal and you will be asked to provide your registered e-mail address. Vidya Lakshmi portal will send a system generated password through an e-mail.

6. How will I know once Education Loan is approved?
The Bank will update the status of the application on Vidya Lakshmi portal. Students can view the status of the application on the applicant?s dashboard on the portal.

7. Why is my loan application rejected?
You may not be eligible as per the norms laid down by the selected banks. Please contact? the selected banks for more details.

8. What is ‘On hold’ status of Loan application?
The Bank will mark the loan application status to ‘On hold’ when the bank requires some further information or documents to be submitted by the student. The requirement will be indicated in the Remarks column and Student can check the same in the dashboard.

9. How is the money/educational loan disbursed?
Approved Educational Loan of an applicant will be disbursed directly by the bank outside the Vidya Lakshmi Portal. To know more, contact the bank you have selected.

10. Which are the banks I can apply for Educational loan through Vidya Lakshmi portal?
To view the list of registered banks on Vidya Lakshmi, click here.

11. How many applications for Educational Loan can be submitted by a student?
A student can apply to a maximum of three Banks through Vidya Lakshmi portal using CELAF.

12. What is rate of interest for the Educational loan?
The interest rate varies from bank to bank and scheme to scheme. Therefore, the applicant/student is requested to check the same on Loan Search page.

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49 Comments
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  1. PLEASE SOMEONE GUIDE ME, HOW TO LOG IN?

  2. I want to get rid of my application and apply it again to the same bank.

    1. You will have to ask the concern bank to reject the form.
      Then give vidyalakshmi a reason for the same by sending them the reason for rejecting.
      they will provide you a link through which you can then apply for it.

  3. Tell me if it is possible to get this loan for management quota students.

    1. Vidya Lakshmi Portal provides single window for Students to access information and make application for Educational Loans provided by Banks and Govt Scholarships. It has the following features:
      ** Information about Educational Loan Schemes of Banks
      ** Common Educational Loan Application Form for Students
      ** Apply to multiple Banks for Educational Loans
      ** Facility for Banks to download Students Loan Applications
      ** Facility for Banks to upload loan processing status
      ** Facility for Students to email grievances/queries relating to Educational Loans to Banks
      ** Linkage to National Scholarship Portal for information and application for Govt Scholarships

  4. Let mew know If there are any rules for taking the loan amount from the college for my academic purposes.

  5. PLEASE GIVE THE DETAILS OF PRIME MINISTER MR.NARENDRA MODIJIS SCHOLARSHIP SCHEME.

  6. I am going to study Engineering. Give the instructions of education loan.

  7. My daughter is going to complete CBSE 12th std by next year(2018). My plan is to go for MBBS. Is it possible to get loan for management quota sheets (payment quota)? For merit how much eligibility & when I suppose to approach?

  8. I want Vidyalakshmi scholarship. Please let me know how I can apply.

  9. Thanks Vidhyalakshmi team for my education loan got sanctioned successfully in Indian bank.

    1. What is the maximum file size that we can upload?

  10. It is time waste in registering online. Only filling by banking form is the best.

  11. I completed degree
    Am I eligible for what scheme of scholarship?

  12. Now I am a “D.el.ed” student. I faced some problems to collect the education fees because I belong to a low class family. So I badly needed a loan to continue my education.
    Please provide me some information. How can I get education loan and am I able for this loan?

  13. I want loan for competitive exam coaching. Will I get?

  14. Land record is mandatory for 300000 lakh loan.

  15. I want to study physiotherapy in Australia. Am I eligible to get education loan?

  16. What is the Eligibility for applying scholarship?

  17. I would like to study MBBS in abroad. And I have no collateral security if I get 20L?

  18. Where can I apply vidya lakshmi loan?

    1. Go to Vidyalakshmi portal and sign up there, and upload your document.

  19. I am studying BBA with ACCA. Whether I can avail loan for my course and how can I mention the fee for the above course totaling up to 4 lakhs. Please tell me the procedure to apply for education loan for the above courses.

  20. Hashmita from Hyderabad whether i can apply a education loan for course BBA with ACCA? I am studying in Pune Christ college. How can I apply for the total amount which is coming as per fee structure 4 lakhs but the ACCA examination fee depend on value of GBP. So how will it work and what figure I have to mention in loan fee structure? Please clarify.

  21. Prasant Kumar Bhutia

    I am studying in BCA. Please give me loan.

  22. Can I apply loan for the UG course BBA?

  23. Can I get education loan for ACCA?

  24. How to register to education loan for MBA?

  25. Can a B.E final year student get a loan for one year?

  26. I completed b.tech. I want to go to America for studying MS. Am I eligible for loan or not?

  27. PANCHAL NIMESH PUNAMCHAND

    Please tell about loan.
    In which std. student can get loan first?
    We are proud to be an Indian.
    I can get loan for good future of my child.

  28. I am going to Russia to study MBBS. Will my loan be processed?

  29. I have completed pg from bhu in archaeology. I want a loan preparation for civil service. Am I eligible for loan?

  30. I completed my ITI and I want to study sound engineer. I cant study any other because I am interested only in that. Can I apply? How much percentage is required for that? And how much amount of loan will get? Where will I get form?

  31. I am doing M.Sc. agriculture. I want to take education loan from bank.

    1. Have you register on Vidya Lakshmi?

  32. My percentage in Hsc is 90.3 and now I am studying in gce Dharmapuri

  33. I am studying MBBS in China. Am I eligible for loan?

    1. NSDL e-Gov has established Service Centre network across the country which serve as access points for the general public and are efficiently used by Governments to deliver quality services in a user friendly and transparent manner to the citizens.

  34. How to get education loan for undergraduate course? I got 59% in 12th. Am I eligible for education loan?

    1. You need to register first to get education loan.

  35. I’m polytechnic student . So am I eligible for loan?

  36. I’m student of singing. I love singing,and I can’t survive without it. But my money condition is not well. Am I eligible for taking loan? Please ,reply me it’s answer.

  37. I want to study mbbs in Phillipines. Am I eligible to get education loan?
    If yes do I need to provide any security?

  38. I am interior designing student. So am I eligible for loan?

  39. My brother is a poly technic student.

    Is he eligible for loan?

  40. What expenses of Professional Education are covered by an Educational Loan? I mean to say that besides the Fees of Institution/University/College which other expenses e.g. books & stationary, daily maintenance expenses and cost of laptop/computer are covered in an educational loan?

  41. karthik Yadav amai

    I am a journalism student.
    Am I eligible for loan or not?

    Some banks rejected to give educational loan to me.

    I am helpless in this regard.

  42. What is process to return the loan to bank?

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