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PM Vidya Lakshmi Yojana (पीएम विद्यालक्ष्मी योजना)

A Central Government scheme offering collateral-free education loans and interest rebates for higher studies.

A Central Government Initiative

PM Vidya Lakshmi Yojana is an initiative started by the Central Government, which aims to provide financial assistance to students for higher education.Under this scheme, students can avail education loan without any security or guarantor so that they can complete their studies.

Key points of the plan

  • Objective

    To provide financial assistance to students for higher education, so that no student is deprived of his studies due to lack of money.

  • Eligibility

    Students admitted to Quality Higher Education Institutions (QHEIs) are eligible for this scheme.

  • Loan

    Education loan is provided without any security or guarantor.

  • Interest Rate

    Students with annual family income up to Rs 8 lakh will get 3% interest rebate on loans up to Rs 10 lakh.

  • Credit Guarantee

    For loans up to Rs 7.5 lakh, the government provides 75% credit guarantee to banks to aid loan disbursal.

  • Application Process

    Through an integrated digital portal (Vidyalakshmi Portal https://www.vidyalakshmi.co.in/), students can apply for education loan and interest waiver.

Benefits of the scheme

  • Students get financial assistance for higher education.
  • Students can avail the loan without any collateral or guarantor.
  • Students can avail the benefit of interest rebate.
  • You can get information about education loans provided by various banks at one place.

Apply for your education loan

Apply for the education loan and interest waiver on the integrated Vidyalakshmi Portal.

Apply on Vidyalakshmi Portal

To summarize, PM Vidya Lakshmi Yojana is a significant initiative to help students pursue higher education, enabling them to fulfill their dreams without any financial constraints.