Vidya Lakshmi Scheme

There are lots of talented students in India who find Financial Problems as a hurdle in the path of their success. The government of India takes imitative to solve this problem and has launched Vidyalakshmi online portal to provide educational loans for the students seeking Higher Education. Vidya Lakshmi Education Loan online portal was initiated by the Union Government of India to cater to the students in the nation that require taking education loans for their studies. Under the Vidyalakshmi scheme, the Ministry will help students in getting interest-free loans from the banks to pay their fee. Vidya Lakshmi Portal is a first of its kind website providing the single window for Students to access information and also make application for Educational Loans provided by Banks. It also provides a link to National Scholarship Portal where students can apply for various Government Scholarships. The main aim of Vidya Lakshmi Portal is to provide the easy and effective system for students regarding educational loans. The portal has been maintained and developed by NSDL e-Governance Infrastructure Limited under the guidance of Department of Financial Services in the Finance Ministry, Department of Higher Education, Ministry of Human Resource Development and Indian Banks Association. The Vidyalakshmi Scheme website was launched on 15th August 2015. This scheme is great for candidates who are looking forward to taking further studies but lack of funding. There are 13 Banks and 22 Loan Schemes have already been integrated into the online portal

Benefits & features of Vidyalakshmi Scheme:

  • The students get information about educational loan schemes of banks
  • Benefits of Common educational loan application form available to all students
  • Provision to apply to various banks for educational loans through a single form
  • Vidyalakshmi Scheme online portal the site is linked to the national scholarship portal for information and to apply for government scholarships
  • Students can view the status of their loan application at any time and at any place with an easy access to the dashboard facility of the website.
  • Students can also send to the bank’s e-mail grievances/queries for any kind of issues or difficulties relating to educational loans
  • Facility for banks to upload loan processing status
  • Facility for banks to download student’s loan applications

Objectives of Vidyalakshmi Scheme:

  1. The basic objective of the scheme is to provide easy and effective system of getting educational loans so that no student leaves his or her education mid-way due to lack of funds

These registered banks for Vidya Lakshmi Education Loan:

  1. State bank of India
  2. IDBI Bank
  3. Canara Bank
  4. Union Bank
  5. Bank of India
  6. Vijaya Bank
  7. Central Bank of India
  8. Corporation Bank
  9. Dena Bank
  10. Kotak Bank
  11. Oriental bank of commerce
  12. Punjab National Bank

Eligibility criteria for Vidyalakshmi Scheme:

  1. All Students are eligible to apply for education loan under this scheme
  2. Candidate must be citizen of India

What is Common Educational Loan Application Form (CELAF)?

  1. 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

Application procedure for education loan through Vidyalakshmi online portal:

  1. There are three easy steps to apply for education loan
  • Register
  • Fill up single form
  • Apply to multiple banks
  1. Applicant visit online portal
  2. Now, click on register  and Register yourself on the Vidya Lakshmi portal
  3. Once register successfully, student must login with you User Id & password on vidylaxmi online portal
  4. Now, Fill up the Common Education Loan Application Form (CELAF) by providing all the necessary details

References & details:

  1. For more details about Vidyalakshmi Scheme and apply for education loan visit official site:
  2. To search and apply for scholarship visit:


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