The Vidyalakshmi Scheme 2024 has been introduced by the Indian government to facilitate education loans. This scheme will assist the students seeking funding to study in India or overseas. The Vidyalaxmi Portal provides information about 139 education loan programmes provided by 45 Indian banks. A first-of-its-kind portal for students looking for an education loan is Vidyalakshmi.
The Department of Financial Services, the Department of Higher Education, and the Indian Banks Association guided the development of this portal. The Vidyalakshmi Scheme will provide education loans to students who want to study for higher education. Keep reading to know more.
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Key Highlights of the Vidyalakshmi Scheme
| Name of the scheme | Vidyalakshmi Scheme |
| Launched by | The India Government |
| Objective | To provide online loan facility to the students |
| Beneficiaries | The Indian Students |
| Application mode | Both offline and online |
| Official website | Vidyalakshmi Portal |
The objective of Vidyalakshmi Scheme
The primary objective of the Vidyalakshmi Scheme is to provide educational loans to students who want to study further. This program will help students who are looking for financial aid to study abroad or in India. Information on 139 education loan initiatives offered by 45 Many students finance their goal of studying abroad by taking out education loans from banks or other financial institutions. Examining and contrasting the many student loan options accessible to overseas students can be challenging.
- In August 2015, the Indian government created the Vidya Lakshmi Portal to address this problem with students. Vidya Lakshmi is a first-of-its-kind portal for students searching for an education loan. The students will be assisted through all their journeys while applying for the scheme.
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Eligibility Criteria
- The applicant should be a resident of India
- The applicant should be a student
- The applicant should be 12th pass
Benefits of Vidyalakshmi Scheme
- Providing educational loans to students who wish to pursue higher education is the main goal of the Vidyalakshmi Scheme.
- Students who are seeking financial assistance to study overseas or in India will benefit from this program.
- Details about 139 student loan programs provided by 45 Many students use education loans from banks or other financial institutions to fund their dream of studying abroad.
- It might be difficult to compare and evaluate the various student loan choices available to international students.
- To address this issue with pupils, the Indian government launched the Vidya Lakshmi Portal in August 2015.
- A first-of-its-kind portal for students looking for an education loan is Vidya Lakshmi.
- The students will receive support throughout the application process for the program.
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Required Documents
- Aadhar card
- Marksheet
- Bank details
- Photograph
- Phone number
- Income certificate
Vidyalakshmi Scheme Apply Online 2024
Step 1: Students must register on the Vidyalaxmi site and create a new user profile to start the application process.
Step 2: Go to official Vidya Lakshmi Portal website.
Step 3: Select “New User? Sign up right away. Make a new account using your contact information (name, email, phone number, etc.). A verification link will be sent to the email address you registered with. To validate your account, click the activation link that was supplied.
Note: Students should be aware that after information is posted on the portal, it cannot be changed. Therefore, they should double-check their information.
Step 4: The next action after creating a new user account is to apply for a Vidhya Laxmi loan for schooling. To access your account on the portal, use your login credentials. The detailed procedure to assist you with the Vidya Lakshmi application process is provided below.
Step 5:Choose the option that says “Search and Apply for Loan.”Choose the nation where you wish to study (in India or overseas) now. Decide the path you wish to take. Decide how much you’ll need to pay for your further education.
Step 6: To apply for a Vidya Lakshmi education loan, choose three preferable banks and appropriate terms and conditions for repayment.
Step 7: Upload the necessary files that are requested there. Examine the information you plan to submit in brief.
Step 8: Once you’ve completed every step outlined above, select “Submit.”
Vidyalakshmi Scheme Interest Rate Calculator
- Principal ₹5,000,000
- Interest₹6,378,756 7.5% for 26 years
- Total Payable₹11,378,756
Login for Vidyalakshmi Scheme 2024
Step 1: Go to the official Vidya Lakshmi Portal website. Select the Login option on the Dashboard
Step 2: Select the type of Login that you want to do and then you will be redirected to another page
Step 3: fill in your email ID and password and click on submit
Search Vidyalakshmi Loan Online
Step 1: Go to the official Vidya Lakshmi Portal website. Select the register option
Step 2: first you need to register yourself then after that when you are logged in you can see an option and search for loans
Step 3: click on that option and you can see all the available loans for the students and then choose a type of loan for yourself wisely;
Contact details
- Tel – 020-2567 8300
FAQS
What is Vidyalakshmi scheme?
The Vidya Lakshmi Scheme 2024 has been introduced by the Indian government to facilitate education loans.
How can we apply for the scheme?
The Vidya Laxmi Portal provides information about 139 education loan programmes provided by 45 Indian banks. You can apply at this portal.