Vidya Lakshmi Education Loan Portal: Schemes and Application Procedure

byRahul TadiparthiLast Updated: October 31, 2023
Vidyalakshmi Portal

The Vidya Lakshmi Portal, initiated by the Indian Government, simplifies the process of finding education loans and scholarships for students. It’s a one-stop platform where students can explore suitable loan schemes, apply for credit, and monitor their application status. This portal ensures data security, offers user-friendly application forms, provides remote access, and complies with the Central Loan Interest Subsidy Scheme (CSIS). It’s a convenient way for students to discover loans with maximum amounts and low interest rates.

Key Benefits and Features of Vidya Lakshmi Education Loan

Vidya Laxmi portal comes with a lot of benefits for students seeking education loans. Here are some of the leading features and benefits of using this platform –

  • There is a common application form available in the portal to apply for various loans.
  • With one common application form, students can apply for up to 3 banks of their choice.
  • Students can easily access the pertinent information from 38 registered banks regarding almost 127 education loans.
  • The whole process of applying in the Vidya Lakshmi portal is online. This way, the loan application process remains hassle-free and convenient.
  • The portal also provides the benefit of tracking the application status while the bank updates the processing status of the loan.
  • Students can write down their queries related to the loan and contact directly with the bank via this portal.
  • This portal has the option to compare different loans to make a more informed decision.

Read More: What is Education Loan?

How to Apply for VidyaLakshmi Education Loan?

You must first register to use the Vidya Lakshmi portal. You can complete the procedure by following the steps given below:

  • Go to Vidya Lakshmi’s official website –
  • Click on ‘Register’.
  • Enter your name, phone number, email address, and password.
  • Complete the captcha
  • Click on ‘Submit’ after accepting the terms and conditions.
  • You will receive an activation link at the email address you entered.
  • To activate the account, click on the link to your email.

After the Vidya Lakshmi portal registration is complete, candidates can move on to fill up the application form. After completing the registration process, you can log in to the portal. You need to follow steps listed below to log in:

  • First, go to the official website.
  • Select ‘Login’.
  • Choose ‘Student Login’ 
  • Enter your email address, the password you created when you registered, and the captcha code that appears on the screen.
  • Click on ‘Login’ in step five.

After the login, Once you are done selecting the loan, click on the option named ‘loan application form

Step 1: Read all the instructions on the ‘Common Education Loan Application Form’ page

Step 2: The Vidya Lakshmi portal application form has seven sections. These sections must be filled correctly. These sections include personal details, course details, the cost of the course, supporting documents, etc. Now click on each tab and fill in the details as required. 

Step 3: Save and submit every tab before moving on to the next one

Step 4: After that, on the last page, upload all the required papers and complete the application

Step 5: Tick the check-box on the final page, ensuring the documentation is uploaded properly

Step 6: Click on the link ‘website (clickwrap) agreement terms & conditions’ under the check-box

Step 7: Submit your application

Documents Required for Vidya Lakshmi Education Loan Application

The necessary documents required for the loan application may vary from one bank to another. However, the required documents in VidyaLakshmi portal that are typically needed by all the banks are mentioned below:

  • Birth certificate: Proof of applicant’s birth date.
  • ID proofs: Photo ID proofs of the applicant are necessary, such as a Voter ID card, Aadhaar card, PAN card, etc.
  • Passport-size photographs: Passport-sized photographs of the applicant and the co-applicant are required.
  • Passing certificate of 10th grade: Applicant must submit the certificate indicating successful completion of class 10.
  • Other educational qualification proof: Documents that indicate other educational qualifications, like a 12th passing certificate, graduation and post-graduation certificate, should be submitted.
  • Fee structure and admission letter of the institution: The admission letter and detailed fee structure of the particular institution that the student intends to enrol in need to be submitted.

Important Factors to Keep in Mind for Vidya Lakshmi Education Loan

Here are some vital points to remember while using the Vidyalaxmi Portal to apply for an education loan –

  • Fill out the common application form correctly after thoroughly reading the guidelines, as after submitting the form, changes cannot be made.
  • Keep an eye on the dashboard and your registered email address to get recent updates on your application status.
  • Consider your eligibility before applying for your education loan on the Vidyalakshmi portal. Provide a valid contact number on the portal, as the bank might contact you regarding your loan application.
  • You can only apply for one scheme from one specific bank at a time.
  • Respond within the directed time. The bank will otherwise mark the application as “Closed”.

Eligibility Criteria to Apply for Vidya Lakshmi Education  Loan

Some common eligibility criteria set by the banks are: 

  • Indian Citizenship: The applicant who wants to apply must be a citizen of India for an education loan through the Vidyalakshmi portal.
  • Level of Education: The applicant must have a completion certificate of 10+2 to be eligible for loan application.
  • Admission: The student must have admission to a reputable educational institution by merit or by passing an entrance examination.
  • Study options: Domestic or international students can apply for a loan to study in India or in any foreign country.

Read More: All About Easy Loan Repayment with Paytm

Vidyalakshmi portal education loan is undoubtedly a very useful initiative taken by the Indian Government. This one-stop platform has eased the process of securing the required financial help for education. Moreover, it has enabled students to compare and find suitable loans and scholarships that will fund their studies. So, if you also aspire to study further but lack the financial might, then check this platform for assistance.


What is the maximum loan amount available for application on the Vidya Lakshmi portal?

You can apply for a loan of up to Rs. 4 lakhs on the Vidya Lakshmi portal, and this loan comes with a 15-year tenure, all without requiring any collateral.

How can I register in the Vidya Lakshmi portal?

To register on the Vidyalakshmi platform, first, visit the official website and locate the “register” option. Then, proceed to enter your information to complete the registration process.

How can I check the status of my loan application in the portal?

You need to login to your account in the Vidya Lakshmi Portal, and from there, you can track your application status.

Is there any age limit to apply for an education loan through the Vidyalakshmi portal?

The age limit to apply for an education loan will vary across different banks. Therefore, you need to check your eligibility criteria before applying for a Vidyalaxmi education loan through this portal.

Is there any registration fee charged on the Vidyalakshmi portal?

No, there is no registration fee charged on the portal. It is entirely a free service.

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