Educational Loans

Vidya Lakshmi Portal for Educational Loans and Scholarship

Vidya Lakshmi Portal is the first unique platform for all students where they can get all essential information related to educational loans provided by the banks and apply for it as well. This portal has been developed and is maintained by NSDL e-Governance Infrastructure Limited under the guidance of department of finance services, department of higher education, Indian bank association and the ministry of human resource development. It provides a gateway to all students applying for loans as well as government scholarship with the help of single form. There are 77 education loan schemes and increasing.


The basic objective of the scheme is to provide the effective and convenient system to get educational loan easily for the students who are seeking educational loans so that no student leaves his or her study due to educational fund problem.

Benefits of the Vidya Lakshmi Portal

1. It provides all information related to educational loan of banks.
2. Here, the students get common educational loan form.
3. There is the facility to apply for the educational loan of various banks through a single form.
4. Here, students can get government scholarship information and apply for it as well because this portal is linked to the national scholarship portal.
5. The students are updated about the loan application with easy access to dashboard facility of the website.
6. With the help of this portal, the students can send email, complaints and queries to the bank for any kinds of issues and difficulties face to getting an educational loan.
7. It eliminates the duplicate loan application.
8. Based on students’ eligibility criteria, the system itself suggests the best schemes.


The process to apply for the educational loan through the portal

It has a simple process to apply for an educational loan and scholarship that is given below in a series.

1. Register yourself on the website.
2. Fill up the common application form for educational loan and scholarship referred as the common education loan application form (CELAF). This form is prescribed by Indian Bank Association and accepted by all banks.
3. There are lots of schemes that portal itself suggest according to criteria that which student is eligible for what scheme.
4. Now the applicant or student can choose educational loan as per his or her requirements, convenience and eligibility.

After finishing all process the applicant is updated with loan approval or disapproval on the portal. If a loan is approved then the loan amount is directly transferred to applicant’s account. If the loan application is disapproved then the applicant needs to contact the bank. The applicant also can get the ON HOLD condition on their loan status. It means the bank needs more required information in the form. Email and SMS alert also will be generated for the latest updates.

Name of the banks which are integrated with the online portal

1. Bank of India
2. Union Bank of India
3. Corporation Bank
4. SBI
5. Canara Bank
6. Central Bank of India
7. Kotak Mahindra Bank
9. Punjab National Bank
10. Dena Bank
11. Vijaya Bank
12. Punjab and Sindh Bank
13. Oriental Bank of Commerce
The number of banks are increasing.

Advantages of educational loans

The student has many advantages to use this portal but the main advantage of the portal is the applicant can apply in three banks at a time for the educational loans. It saves students’ time for approaching different banks.

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