Vidya Lakshmi Portal: PM Vidya Lakshmi Education Loan Yojana at vidyalakshmi.co.in

Vidya Lakshmi Portal for PM Modi Vidya Lakshmi Education Loan Yojana (पीएम मोदी विद्या लक्ष्मी शिक्षा ऋण योजना) Application Form Registration & Login with Status Check Available at https://www.vidyalakshmi.co.in…

The government is trying all possible ways to raise the level of literacy in the country. One of the new ways added in this direction is the “PM Vidya Lakshmi Education Loan Yojana.” This yojana will benefit economically disadvantaged children. In addition to these students, talented students who cannot afford to continue their higher education due to financial problems will also benefit.

What is PM Modi Vidya Lakshmi Education Loan Yojana?

PM Vidya Lakshmi Education Loan Yojana (प्रधान मंत्री विद्या लक्ष्मी शिक्षा ऋण योजना) is a scheme through which economically backward students can get financial aid to continue their education. For this, the Government of India has launched an online portal. This portal will help students learn about different plans, education loans, and schemes related to education.

You will be surprised to know that there are more than 127 types of loan schemes that students can avail of using this portal. These schemes are started by over 38 banks.

vidyalakshmi.co.in

Students can search and learn about these schemes at any time using the Vidya Lakshmi Portal. They can opt for any scheme of their choice at their convenience. Students will also get to know about different scholarship schemes on this portal. It is designed so that the students do not have to search for different loan schemes from different sources. All the schemes are brought under one roof: https://www.vidyalakshmi.co.in.

Any problem faced by the students related to the repayment of loan amount or scholarship can be discussed and addressed along with Grievances of the students can be raised use.

Features of PM Vidya Lakshmi Education Loan Yojna

The Portal launched for the implementation of PM Vidya Lakshmi Education loan Yojana is very convenient (easy to use) to use. Vidya Lakshmi Portal is exclusive, as it is the first portal designed to meet education-related financial needs. Getting a loan for education has become very easy. Some of the major features of this portal/yojana are: –

Vidya Lakshmi Scheme has been started keeping in mind the convenience and services required by the students.
Students can register themselves for this Yojana using this portal.
Through the dashboard, you can easily track the progress of your application.
In case, students have any questions, doubts or suggestions, they can directly mail the concerned bank. The email IDs that can be used for this purpose are listed on this portal.
On this portal, students will get all the information related to loans and scholarships.
With the help of this portal one gets all the information related to all the schemes offered by different banks. It reduces the need to visit the branches of different banks.
You not only get the information related to scholarship and loan schemes, but you can also apply for these loan and scholarship through this portal.
Actually, the purpose of this portal is to serve as a link between different banks and students.

Important Facts Related to Vidya Lakshmi Education Loan Yojana

As we already know this Yojana will help all those students that are economically backward or challenged. Together with obtaining the financial aid, the students will also get an opportunity to apply for the scholarship under this Yojana. Some facts related to this Yojana are: –

First, the students need to fill CELAF (Common Education Loan Application Form). This form is available on the portal.
Vidya Lakshmi has been developed under the constant guidance of Department of Financial Services, Indian Banks Association and Department of Higher Education. Its construction and maintenance are done by NSDL (e Governance Infrastructure Limited).
Around about 38 banks have registered themselves on this website so far. Students can opt any one of the banks of their choice. These 38 banks are offering around 127 loan schemes for students keeping in mind their different needs. The information about all of these schemes is available on the portal.
In future, more and more portals will be linked with this portal, so that the students can get all the related information under one roof.
If you opt for the loan from the bank under this scheme, you get a time span of about 5 to 7 years for repayment of the instalments of the loan. So, it is better to think about all the aspects of the loan scheme before opting for one.
To obtain a loan under this scheme, one needs to fill out only one form that will be accepted by all the banks. There will be some terms and conditions for which you need to give consent before taking the loan. Some of the terms and conditions are: –
- a) If you will take an education loan of up to Rs. 4 lakhs only, you will get it without any guarantee. For this you will not be required to submit any security to the bank. You will get this loan as a joint loan with your mother and father.
- b) If you take a loan between 4.5/- lakhs and 6 lakhs, you will have to bring a third person as a guarantor of your loan.
- c) If your loan amount is above Rs. 6.5/- lakhs, then you need to bring a guarantor. Together with this, you need to keep something as a security against your loan.

You get tax benefit on the interest paid on all the educational loans you opt for. You have to pay less interest on education loan. There are varied interest rates for different educational loans offered by different banks.

Documents to be Submitted for Vidya Lakshmi Education Loan

There are some documents that are essentially required to register yourself for this Yojana, or for getting loan under this Yojana. Some of the commonly asked and accepted documents are: –

ID Proof (Voter ID, Aadhaar Card, PAN Card)
Passport Size Photographs
Income certificates of mother and father.
Proof of address, such as voter ID, Aadhaar card, and copy of electricity bill.
Marksheets of secondary and higher secondary classes.
Admission letter of the college/university to which one wishes to enrol. The detailed fee structure of the college/university fee for the whole course.

How do I apply for Vidya Lakshmi Education Loan Yojana?

To get the benefits offered by Vidya Lakshmi Education Loan Yojana, one has to first register on the official portal of Vidya Lakshmi Education Loan Yojana. To register yourself, follow the steps discussed below.

Visit PM Modi Vidya Lakshmi Portal.
- Go to the official site of this PM Modi Vidya Lakshmi Education Loan Yojana Portal at https://www.vidyalakshmi.co.in.
Register Your Self.
- Now, on the right-hand side of the home page, you will find the ‘Register’ link at the top. Click on that.
Fulfil Complete Details.
- On the new page that appears, you will have to enter the information asked for. The information marked with ‘*’ needs to be entered mandatorily.
Verify & Submit the Form.
- After entering all the information, enter the captcha code and press the agree button. At the end, click on the ‘Submit’ button.
Activate Your Account.
- Now, you will get an activation link on your Email ID that will remain active for 24 hours. Click on that link as soon as possible. Instantly, your account will be activated. You will get to see a message ‘Thank you for registering on Vidya Lakshmi portal’ on your screen.

Vidya Lakshmi Portal Login

After registering on https://www.vidyalakshmi.co.in, you need to complete the process of Login on this (विद्या लक्ष्मी पोर्टल लॉगिन) portal. After this step only, you will be able to start the process of processing of the loan. For getting the loan under this scheme, follow the steps discussed below: –

When you will be on the Homepage of the portal, click on the ‘Login’ on https://www.vidyalakshmi.co.in. The option present on the right-hand side of the screen.
Now, you will be required to enter your email address, password and captcha code. Press ‘Login’ button in the end.
A dashboard will open in front of you. Here you will find an option of ‘Loan Application Form’. Click on that.
You will now be able to see the instructions related to how to fill the form. After reading the instructions carefully, click on the ‘Next’ tab.
On the next page, fill all the essential information asked for and then click the ‘Save’ tab and after that ‘Next’ tab.
On the new page, you have to fill all the personal information like name, mother’s name, father’s or spouse name, PAN card number, address etc.
After that, again click ‘Save’ and then ’Next’ tab.
On this stage, you will need to fill all the information related to your present bank account. Fill the ‘Present Bankers detail’ and then press the ‘Next’ tab.
Now, you will need to give information about the course for which you wish to enroll, name of the institute etc. Again, press the ‘Save’ tab and then the ‘Next’ tab.
Fill the details of the fee that is to be paid to the institute/college/university for the course.
You also need to give the details about the repayment mode. In how many instalments you will repay the loan? You need to mention here. At the end, click on the ‘Submit’ tab and then ‘Next’ tab.
Now, upload the required documents. After this, you will give consent to all the terms and conditions and then click on ‘Next’.
After that, you will see a dialogue box on the screen, in which you will be asked if you want to search and apply for the loan scheme? If you wish to apply for the loan, click on the ‘Yes’ tab.
Now, you have to enter the name of the course, location etc. and then mention the amount of loan that you will require. At the end, click on ‘Search’ tab.
A list of banks will appear on the screen. The list of banks will include the name of those banks that can give you loan according to your specified requirements. You can choose any bank of your choice.

The process of applying for an education loan is now over.

What is PM Vidya Lakshmi Education Loan Yojana?
- PM Vidya Lakshmi Education loan Yojana has been designed with economically backward students and those students who cannot study further due to some or other financial constraints in mind. Through this scheme, every needful student will get a loan from different banks at different interest rates. Through this loan, they will be able to continue their education.
How will the students get help through PM Vidya Lakshmi Education loan Yojana?
- First of all, the students have to register themselves on the official portal https://www.vidyalakshmi.co.in of this scheme. After that, they need to log in and then fill out the form. After filling out the form appropriately, they can choose the amount of loan and bank according to their needs/demands.
How and from where does one need to register for the PM Vidya Lakshmi Education loan Yojana?
- You can register for this scheme online by visiting the official portal. There, you can register at https://www.vidyalakshmi.co.in. Read the article to understand the registration process.
Which documents are required to register for this scheme?
- 1. ID Proof (Voter ID, Aadhaar Card, PAN Card).
  2. Passport Size Photographs.
  3. Income certificates of mother and father.
  4. Proof of address, such as voter ID, Aadhaar card, and copy of electricity bill.
  5. Marksheets of secondary and higher secondary classes.
What are the benefits of this scheme?
- You will be surprised to know that there are more than 127 types of loan schemes that students can avail of using this portal. Over 38 banks have started these schemes. Students can search and learn about these schemes at any time using this portal. They can opt for any scheme of their choice at their convenience. Students will also get to know about different scholarship schemes on this portal. This portal is designed in such a way that the students do not have to search for different loan schemes from different sources. All the schemes are brought under one roof: https://www.vidyalakshmi.co.in.

*Disclaimer: Above published information is only for reference purposes, for any changes on the content we refer to visit the official website, and we are not responsible for anything.