About Vidya Lakshmi Scheme

To ease the process of education financing, the government has introduced various schemes over the years. Vidya Lakshmi education loan is one of them. Under this scheme, the Indian Government has set up an IT-based financial aid portal to oversee student scholarship programs and education loan applications. By opting for this scheme, using a Loan Against Property, will help gain the most out of your educational endeavors.

Vidya Lakshmi education loan scheme works towards ensuring that no student misses their higher education and skill development due to insufficient funds.

The portal has been developed under the guidance of the Department of Financial Services, the Indian Banks Association, and the Department of Higher Education. Furthermore, this portal is maintained by the NSDL e-Governance Infrastructure Limited.

Vidya Lakshmi loan portal has consolidated the education loan application process. Aspirants can now apply for funds from any financial institution they deem fit through this website. Also, they can check and track their application anytime, anywhere. Additionally, this portal provides links to the National Scholarship Portal as well.


Vidya Lakshmi Scheme Features and Benefit

The features of the Vidya Laxmi education loan portal includes:

Single window facility

With the Vidya Lakshmi portal, students now have a single-window system for their education loan purposes. Since this portal provides access to almost every leading financier, it becomes easy for anyone seeking an education loan to find a suitable offer. This portal has more than 50 types of such credit plans to meet various educational purposes.

One application for every purpose

Vidya Lakshmi education loan portal eliminates the hassle of filling multiple forms while applying for a loan with different lenders. Aspiring borrowers can now fill out one CELAF or Common Education Loan Application Form for this purpose. Students can approach a maximum of 3 lenders via this single loan application form.

Compare between multiple loan offers

Another notable benefit of the Vidya Lakshmi education loan scheme is that it allows prospective borrowers to make an informed decision. Since it includes education loan offers from multiple lenders, aspirants can easily perform a comparative study among various loan offers and find the most suitable one.

Easy tracking of loan application

With this online portal, one can now track their education loan application and its status. Furthermore, financial institutions can also download and update loan applications and their status through this portal to help students.

Solving the grievances

The portal allows students to submit their grievances where they can express their issues and ask queries to their respective financial institutions. This establishes a direct communication channel between applicants and financers.Furthermore, the loan application process through the Vidya Lakshmi portal does not include any hidden charges. Since every document is available online and there are no intermediaries involved, it also maintains transparency.

Lap Loan Emi Calculator

Loan Against Property EMI Calculator

Loan AmountRs.

Rs.20 LakhRs. 15 Cr


12 Months216 Months

Interest Rate%


Your EMI is Rs. 0


Total Interest



Principal Amount


View Repayment Schedule Apply Now

Repayment schedule



Recently Updated

Vidya Lakshmi Scheme Eligibility Criteria

Eligibility criteria for Vidya Lakshmi education loan subsidy comprise:

Eligibility Parameters Criteria to Fulfil
Residential status and citizenship Must be an Indian Citizen
Borrower’s employment profile Completing the higher secondary degree, or any equivalent, is imperative
Eligibility There are no requirements related to marks or grades
Admission The admission must be in a Government recognised university, under an approved course of study, and should clear any entrances exam related to their courses
Income Criteria The legal guardian of applicants must comply with the income criteria set by different lending institutions
Collateral No need to submit any collateral to avail credit through this scheme


How to Avail of Vidya Lakshmi Scheme Benefits

To apply for an educational loan through Vidya Lakshmi Scheme, one can follow the below-mentioned steps:

  1. Navigate to the Vidya Lakhsmi portal
  2. Click on the ‘register’ option
  3. Complete the registration with personal details and security captcha code
  4. Upon receiving an activation link to the email ID, students can use it to complete this activation process

Following a successful activation of the Vidya Lakshmi account, students can log in to their account and find a suitable loan offer. They can click on ‘search for loan scheme’ and enter course details and loan amount. After that, they will receive a list of financial institutions that offer credit according to their needs.

Now, they can fill up the CELAF. Based on this application, selected financial institutions will present loan offers. Candidates can then choose one loan offer among them as per their needs.

Apart from these, two points to note about this platform are:

  1. Vidya Lakshmi education loan interest rate varies from one lender to another. Individuals can review the exact details of the respective loan offers.
  2. Loan scheme details such as repayment and other charges are also specific to particular lenders. Hence, students can refer to loan offers for this information.

The Vidya Lakshmi education loan has brought a systematic and convenient way of securing funds for higher education that will aid students to meet their requirements and fulfil their dreams.


How to Avail Padho Pardesh Education Loan Scheme

Follow the steps below to get an education loan interest subsidy under Padho Pardesh scheme:

  1. Compare different lenders and opt for a suitable education loan.
  2. Go to the official website of that financier and fill up the online application form with the necessary information.
  3. On getting the loan application, the representatives of that lender will contact you shortly.
  4. After eligibility check and documentation, the loan amount will be disbursed to a borrower’s account.
  5. Inform the lender about the willingness to avail of Padho Pardesh scheme interest subsidy.
  6. Meet the eligibility to qualify for all benefits of this scheme.
  7. If eligible, the lender will update the loan details and the loan term on Padho Pardesh portal.

However, for a higher loan amount, opt for an education loan against property. Bajaj Housing Finance provides this secured loan at competitive interest rates and other feasible benefits. Keep a high-stake property as collateral and qualify for a sizeable loan amount for students.

Vidyalakshmi Scheme Education Loan On Property_PAC_WC

People also consider






Pre-Approved Offer