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Education

Student Loan (Vidya Lakshmi)

Education Loan in One Portal — Apply from 40+ Banks

Official Website vidyalakshmi.co.in
Fees: No portal fee. Bank processing charges apply (0–1%).
Processing: 15–30 working days

What is Student Loan (Vidya Lakshmi)?

Vidya Lakshmi Portal is a government-supported single window for education loans. Students can apply to multiple banks simultaneously and access central interest subsidy schemes (CSIS) for economically weaker sections.

Who Can Apply

  • Indian students admitted to recognized institutions
  • Students pursuing graduation, PG, diploma, or professional courses
  • Students from EWS/LIG families for CSIS interest subsidy

Documents Required

  • Admission letter from institution
  • Mark sheets of previous qualifications
  • Income certificate of parents
  • Fee structure from institution
  • Aadhaar and PAN of student and co-borrower

Step-by-Step Guide

1

Register on Vidya Lakshmi

Create student account at vidyalakshmi.co.in.

2

Fill CELAF Form

Fill Common Education Loan Application Form (CELAF) with course and financial details.

3

Apply to Multiple Banks

Submit application to up to 3 banks simultaneously.

4

Bank Verification

Bank reviews application, verifies documents, and calls for interview.

5

Loan Disbursement

Loan sanctioned and disbursed directly to institution in installments.

Go to Official Portal

Important Tips

  • Apply early — loan approval takes 2–4 weeks
  • CSIS subsidy saves significant interest if income is below ₹4.5L
  • Explore state-specific scholarship portals for additional grants
  • Compare interest rates across banks on the portal

Frequently Asked Questions

QIs collateral required?

No collateral for loans up to ₹7.5 lakh. Above ₹7.5 lakh, tangible collateral required.

QWhat is CSIS interest subsidy?

Full interest subsidy during course + 1 year for students with parental income below ₹4.5 lakh/year.

QWhen does repayment start?

Moratorium: Course duration + 6–12 months. Maximum 15-year repayment period.

Fees

No portal fee. Bank processing charges apply (0–1%).

Helpline

vidyalakshmi.co.in

Processing: 15–30 working days

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