Vidya Lakshmi Portal 2023: Education Loan Scheme


Vidya Lakshmi Portal:- The Vidya Lakshmi Portal is an initiative by the Indian government to provide a single platform for students seeking educational loans. Launched on 2015, the portal aims to simplify the loan application process and make it more transparent and efficient. A Central IT-based Education Loan portal provides student finance services to the young generation. It is an online platform that helps interested students to apply for student loan online through the website. portal makes all the information of the students, parents’ safe with the government.

Vidya Lakshmi Portal

Vidya Lakshmi Portal

The Vidya Lakshmi Portal is an online portal where students can browse and apply for various education loan schemes offered by banks and other financial institutions in India. It provides an application form that students can fill out to apply for loans from multiple banks. The portal also helps in fulfilling the dream of the individual who wants to study abroad. More than thirty banks are registered on the portal, and over 100 loan schemes are made available on the website for the students. Students can check the list of the registered banks from the bottom of the home page.

National Scholarship Portal Overview

Name of the articleVidya Lakshmi Portal
BeneficiariesStudents of India
AimTo help in getting education loan
Started ByGovernment of India
Launched on2015

Vidya Lakshmi Portal Objective

The aim of the government to start the Vidya Lakshmi Portal is to provide a centralized platform for students to access and apply for educational loans. On this portal the loans are offered by many banks and financial institutions in India. The portal aims to streamline the process of applying for educational loans. By applying loan online, the time and paperwork will be reduced.

Maha Career Portal

Vidya Lakshmi Portal Benefits

  • The portal promotes transparency by providing students with information regarding different loan schemes, interest rates, repayment options, and all other important details.
  • With the help of the portal, students can compare and take adequate decisions about the loans they wish to apply for.
  • The portal allows students to explore and access a wide range of educational loan schemes offered by many banks and financial institutions.
  • Online platform promotes transparency by providing students with updates and notifications on the status of their loan applications.
  • It is a user-friendly interface as it makes easy for students to navigate and access the necessary information. With the help of it, students can complete the application process from the convenience of their homes.
  • The need for physical visits to multiple banks will be reduced.

Interest Rates of Vidya Lakshmi Portal 

  • The interest rates at the portal start at 8.40% and go up to 18 % according to the needs of the applicant.

New Education Policy

Eligibility Criteria for Loan Application

  • It is necessary for an individual to be a permanent citizen of India.
  • To obtain loan, it is required to get admission in the institution from merit or entrance examination.
  • The interested individual should have passed class 12th.

Important Documents

  • Birth certificate. 
  • 10th-grade passing certificate. 
  • Proof of educational qualification.
  • Photo IDs proof like PAN card, Aadhar Card, Voter ID, etc.
  • Latest Two passport-size photographs and of the co-applicant.
  • Letter of admission of the institute.
  • Fee structure of the concerned institution.

SSP Scholarship

International Education

  • VISA approval and appropriate travel documents.

For a Salaried Individual

  • Salary slip is needed.
  • Form 16, along with IT return. 

For Self-Employed

  • Last six months bank statement. 
  • Last two years of IT returns. 
  • Office evidence.  

जय भीम मुख्यमंत्री प्रतिभा विकास योजना

Registered Banks on Portal

  • State Bank of India
  • Bank Of Baroda
  • Axis Bank
  • Central Bank of India
  • Bank Of Maharashtra
  • Bank Of India
  • Kotak Bank
  • Indian Overseas Bank
  • Punjab National Bank 
  • ICICI Bank
  • Karnataka Bank Ltd
  • Canara Bank
  • HDFC Bank
  • GP Parsik Bank Ltd
  • IDBI Bank
  • Abhyudaya Cooperative Bank Limited
  • Dena bank
  • Dombivli Nagri Sahakari Bank ltd
  • Federal Bank
  • Indian Bank
  • Karur Vysya Bank Ltd
  • Kotak Mahindra Bank Ltd
  • New India Cooperative Bank Ltd
  • Oriental Bank of Commerce
  • Pragathi Krishna Gramin Bank
  • Punjab and Sind Bank
  • Punjab National Bank
  • RBL Bank Ltd
  • State Bank  of India
  • Syndicate Bank
  • Tamil Nadu Mercantile Bank Ltd
  • UCO Bank
  • Union Bank of India
  • United Bank of India
  • Vijaya Bank
  • Yes Bank
  • Allahabad Bank
  • Dhanlaxmi Bank
  • Development Credit Bank Ltd.
  • Nainital Bank

Biju Yuva Sashaktikaran Yojana

Procedure for Registration on Vidya Lakshmi Portal

  • The home page of the website will open on the screen.
  • You will see apply now option on the home page, click on it.
  • After clicking you will see a new page, with registration form.
  • If you are not registered then get yourself registered first.
  • Fill the registration from by entering details like name, mobile number, email id and password.
  • Then enter the captcha code in the space given.
  • At last, click on the submit option.

Procedure for Application on Vidya Lakshmi Portal

  • Go to the official website of the Vidya Lakshmi Portal
  • You will land on home page of the website.
  • Click on the student login option on the home page.
  • Then login by entering Id and password.
  • You will see a new page on the screen.
  • An application form will open on the new page.
  • Fill the application form by entering all asked details.
  • After that you have to select the loan schemes.
  • Now upload the required documents.
  • Review the application form before final submission.
  • At last, click on the submit option on the screen. 


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