Vidya Lakshmi Portal Loan Scheme – How to get Education Loan – Apply Process

Vidya Lakshsmi which is a well known web based portal was launched by the Union government of India on the 15h August 2015 .The educational loan is specially focused at students who are seeking for educational loans. This is one of the first websites that provide students loan facilities, allow students to access information and also make applications for educational loans which are provided by the banks. The website also provides link to the national scholarship portal as well where students can also apply for government scholarships. The government of India understands the student requirements and accordingly has developed the portal so that students can get the loans for studies and repay the same later on.

How to Apply Education from Vidya Lakshmi Portal Loan Scheme

This portal has been developed and maintained by NSDL e governance infrastructure Limited.

Here are some features of the portal – beneficial tips

  • The information of educational loan are offered by registered banks

  • The portal also has the common educational loan application form for students

  • The portal also offers the facility to apply to a number of banks at the same time for educational loans and the one which would be approved would provide the loan

  • Students can also download the student loan application form

  • The website also offers facilities to banks to upload loan processing status

  • Students can post their grievances regarding educational loan to the banks as well

  • National scholarship application forms are also available in the portal of Vidya Lakshmi Portal Education Loan

How to apply for an educational loan – Steps to apply for the loan

It is very simple to apply for an educational loan through Vidya Lakshmi Portal Education Loan Scheme. Follow the steps for the same

  • First login with your use name and password

  • Then fill in the common educational loan application form. All the necessary details need to be provided I order for loan approval. This is just a onetime process

  • After completing the loan application form, submit the form and start searching for educational loan schemes which are available in banks that are registered with the Vidyalakshmi portal.

The new educational loan scheme is said to be a very proactive measure by the government and it is beneficial for all students who are seeking for educational loans. Education is a must for all students and no one can be neglected from the same.

Accepted banking institutions including SBI, IDBI Bank and Bank of India (BoI) have incorporated their system with the internet site. The finance minister has also set up an IT infrastructure for student’s authority to administer as well as monitor scholarships in addition to educational loan schemes through Pradhan Mantri Vidya Lakshmi Karyakram. As of now, 13 banking institutions have registered 22 educational loan schemes on the portal, and five of the banking institutions have also incorporated their system with the portal for providing loan processing status to students.

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