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Vidya Lakshmi Portal: Eligibility, Documents, Applications and Registration

Updated on 10 May, 2024

Neha Uppal

Neha Uppal

Sr. Content editor

The Vidya Lakshmi portal simplifies the process of securing education loans for students who wish to study abroad. Many students want to pursue their education at world-renowned universities. However, high tuition fees and living costs can make it challenging. Read this article to learn how the Vidya Lakshmi portal is helping students find suitable loans for their education abroad.

What is Vidya Lakshmi Portal?

The Vidya Lakshmi Portal is an initiative by the Government of India for students who are seeking educational loans. It is a one-stop destination for finding various student loan schemes offered by different banks and is maintained by Protean eGov Technologies Limited. 

The Vidhya Lakshmi portal assures data security for all students who apply for loans. It complies with the Central Loan Interest Subsidy Scheme (CSIS). 

What is Vidya Lakshmi Education Loan?

The Vidya Lakshmi educational loan refers to the loan that can be acquired through the Vidya Lakshmi portal. The portal offers around 139 loan schemes from 45 registered banks. 

Students can find loans with low-interest rates and apply for loans from 3 banks at the same time with one application form. With the Vidhya Lakshmi portal, students can easily compare loans offered by different banks and make a judicious choice. 

How is Vidya Lakshmi Education Loan Helpful for Students Looking to Study Abroad

Studying abroad can be expensive and often discourages students from applying to foreign universities. However, with the right education loans, students can achieve their dreams of pursuing higher education in their chosen destination.

The Vidya Lakshmi portal has more than 45 banks registered, offering multiple loan schemes. The portal allows students to track their application status, starting from the inception of the application to the approval of the loan.  

This provides transparency and alleviates stress during the waiting period. Due to its numerous benefits, the portal makes it easier for study abroad aspirants to fund their education. 

Benefits of Vidya Lakshmi Portal

  • Centralized Platform: The Vidya Lakshmi portal is an all-in-one platform where students can compare and find educational loans that are suitable for them. Students can apply and track loan applications from the portal.
  • Simple Application Process: The application process for a Vidya Lakshmi student loan is very simple. With one common application, students can apply to three banks.
  • Efficient and Time-Saving: As the entire process takes place online, students don't have to  visit physical branches of the bank.
  • Linkages with the National Scholarship Portal: The Vidya Lakshmi portal is linked to the National Scholarship portal, thus offering students more options for government scholarships and aids.

Features of the Vidya Lakshmi portal 

1. Security

NSDL e-Governance Infrastructure Limited maintains the Vidya Lakshmi portal. NSDL e-Governance Infrastructure Limited maintains the Vidya Lakshmi portal. Since the Vidya Lakshmi portal was created under the guidance of the Ministry of Finance, Indian Banks Association (IBA), and Ministry of Education, the portal is 100% secure and authentic. You can safely apply for loans through it. 

2. Multiple choices

Many banks are registered with the Vidya Lakshmi portal, which provides a wide variety of loan providers for students to choose from. 

Currently, 45 banks are registered with the portal. Some registered banks are Axis Bank, Bank of Baroda, Central Bank of India, HDFC Bank, IDBI Bank, Syndicate Bank, State Bank of India, Canara Bank, Bank of India, IOB, J&K Bank, GP Parsik Bank, etc.

3. Ease of Application:

It is easy for students to apply for a loan through this portal. The banks update the status of the loan approval timely. Hence, it is effortless to track the loan status and avoid the queues of the banks. 

4. Multiple Loan Schemes:

There are multiple loan schemes for the students to choose from. As of now, there are 139 loan schemes made available by different registered banks.

5. Faster approvals:

It usually takes a long time for a loan to get passed. However, the portal facilitates faster and more convenient student transactions, making the process hassle-free. 

6. Ear for grievances:

In case of any issue or grievance related to the loan, students can conveniently approach the banks and reach out to them via email. 

7. Links to Government Scholarships:

Vidya Lakshmi portal is linked to the National Scholarship Portal, from where you can access vital information regarding the scholarships and easily apply for those.

Vidya Lakshmi Education Loan Interest Rate 

The interest rates at the Vidya Lakshmi portal for education loans start at 8.40% and go up to 18% based on the requirements of the students and bank to bank.

The interest rates at the Vidya Lakshmi portal will vary from one bank to another. While applying on the portal, you can check the interest rates on the loan schemes offered by each bank.

Eligibility for Loan Application

The loan eligibility differs for every bank and the scheme you apply to. Therefore, you need to check the requirements with individual banks. 

However, some of the standard eligibility criteria are:

  1. The student applying for the Vidya Lakshmi portal education loan should be an Indian citizen.
  2. Must have secured admission in the institution either through merit or entrance examination.
  3. Should have completed 10+2 or equivalent.

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Registration Procedure on Vidya Lakshmi Portal

For Vidya Lakshmi portal registration, you need to click the “Register” button on the top right side of the screen. You will be redirected to the registration page, where you will need to fill in details such as:

  • First Name
  • Middle Name
  • Last Name
  • Mobile No.
  • Email ID
  • Password

After entering all these details, you need to verify by entering the captcha.

Next, you need to agree to the terms and conditions mentioned in the link by clicking on the check box. 

After completing these steps, click on the submit button.

Than, you will be sent an email to activate your account. Open that email and enter the registered email ID and password. Your account will be successfully created.

Some guidelines for Vidya Lakshmi portal registration are:

  • The name you enter must match with your 10th-grade mark sheet.
  • The email ID, once entered, cannot be changed. Hence, enter an active email ID.
  • Enter a valid mobile number. You can also enter your parent/guardian’s mobile number.
  • The password that is entered must fulfill the requirements.

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Documents Required for Loan Application

The documents to be submitted for the application process vary for different banks. However, some documents that are a must with all the banks include the following: 

  • Two passport-size photographs of the applicant as well as the co-applicant.
  • Photo IDs such as PAN card, Aadhar Card, Voter ID, etc.
  • Birth certificate of the applicant. 
  • 10th-grade passing certificate. 
  • Proof of educational qualification (12th-grade board examination mark sheet, certificate of the degree course, graduation certificate, post-graduation certificate, if any). 
  • Letter of admission from the institute one is applying to (on the institute letterhead). 
  • Fee structure from the concerned institution.
  • Documents pertaining to VISA approval may also be required.

If the applicant is a salaried individual:

  • Salary slips must be compulsorily submitted.
  • Form 16, along with IT return. 
  • Side income proof (if any). 

If the applicant is self-employed:

  • Bank statement of last six months. 
  • IT returns of last two years. 
  • Proof of office. 
  • Side income proof (if any). 

Vidya Lakshmi Portal Login Procedure

After successful registration, you can easily log in to the Vidya Lakshmi online portal by entering the registered email-id and password along with the captcha code.

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How to Search for Education Loan in Vidya Lakshmi Portal

The Common Educational Loan Application Form (CELAF) is the common form for applying to various loan schemes on the portal. When filling out the CELAF application form successfully, the student can search for the educational loan as per his/her needs, eligibility, and convenience and apply for the same. 

You can choose from up to three banks while applying for an education loan, so take your time while making a choice. 

You will require some documents as you apply for the loan on the Vidya Lakshmi portal, and these are:

  • Visa documents
  • Letter of admission with letterhead
  • Identity proof
  • Passport size photographs
  • Documents for ownership of assets 
  • Academic records
  • Financial statements from the bank
  • Income tax documents
  • Proof of residence

Make sure you fulfil all the requirements for loan eligibility before applying at the Vidya Lakshmi portal.

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Vidya Lakshmi Portal Education Loan Application Procedure

After you generate your login ID and password on the Vidya Lakshmi portal for an education loan, you can easily apply for the education loan by completing the following steps:

  • Search for an education loan from the website as per your need
  • You can click on loan schemes of your choice and check their details by making use of the Vidyalakshmi Loan Scheme Search Screen
  • Look for the important features such as –
    • Maximum loan amount
    • Minimum margin loan payment
    • Loan commencement period
    • Minimum education loan interest rate
    • The maximum loan repayment duration
    • Least extra charges like Collateral Inspection Charges/Documentation Charges etc
    • Make sure you read all the terms and conditions for the loan at Vidya Lakshmi’s online portal
    • Compare the loan schemes from different banks on the Vidya lakshmi portal
    • You will find an option of ‘Apply Now’ under each education loan scheme on the Loan Scheme Search Screen.
  • You can apply to a maximum of three education loan schemes. Be careful when making selections
  • Click on the Apply button and complete the procedure by confirming your selection
  • You can check your education loan application status on the home screen as you log in. 
  • Click on the application status to fetch the details

Checking Application Status for Vidya Lakshmi Portal Education Loan

The student can check the status of the loan applied on the dashboard, which can be accessed on the portal after logging in. If the documents are incomplete, the loan will be kept on hold, and the same will be shown on the dashboard. In the same way, when the loan is approved, it will be notified on the applicant’s dashboard.

VidyaLakshmi Education Loan Portal: Banks List

There are around 45 banks registered with the Vidya Lakshmi education loan portal. Some of the registered banks along with their loan schemes, are as follows:

Vidya Lakshmi Portal Bank ListTypes of Loans offered by each bank

Abhyudaya Cooperative Bank Limited

Educational loan under the scheme of Abhyudaya Gyan Vardhini

Allahabad Bank

Education Loan
Andhra Bank

Dr. Pattabhi Vidya Jyothi Scheme

Axis BankAxis Bank Education Loan Scheme
Bank of Baroda
  • Baroda Gyan
  • Baroda Scholar
  • Baroda Education Loan To Students Of Premier Institutions
  • Baroda Vidya
  • Baroda Education Loan For Executive Development Programmes (India)
  • Baroda Education Loan For Executive Development Programmes (Abroad)
  • Skill Loan Scheme
Bank of India 

BOI Star Education Loan Scheme

Bank of Maharashtra

Model Educational Loan Scheme

Canara Bank
  • IBAS Model Education Loan Scheme For Study In India And Abroad
  • IBA Skill Loan Scheme
Central Bank of India

Cent Vidyarthi

Corporation Bank

Corp Vidya Loan Scheme

Dena Bank
  • Skill Loan Scheme ( Kaushal Wrin Yojana)
  • Dena Vidya Laxmi Education Loan Scheme For Pursuing Higher Education In India And Abroad

Dombivli Nagari Sahakari Bank Limited

  • Vidyavardhini Education Loan Scheme
  • Suvidya Education Loan Scheme
Federal bank
  • Federal Special Vidya Loan Scheme
  • Fed Scholars


GP Parsik Bank Ltd

Vidya Siddhi

HDFC BankEducation Loan
ICICI BankEducation Loan
  • Education Loan For Vocational Courses
  • Education Loan Scheme For Other Management Quota Students
  • Education Loans For Students Studying In Premier Education Institutes
  • Education Loan For Courses Offered By ICAI
  • Education Loan For Special Courses
  • Education Loan To Physically Challenged Persons Under NHFDC Scheme
  • Education Loan For Non-Vocational Courses
Indian bank
  • Revised IBA Educational Loan Scheme – 2011
  • IB Skill Development
  • IB Educational Loan Prime Nit
  • IB Educational Loan Prime
  • Non- IBA Educational Loan
Indian Overseas Bank
  • Vidhyajyothi Educational Loan
  • IOB Scholar
  • IOB Vidya Suraksha
  • Vidya Jyothi Educational Loan Scheme
  • IOB Career Dream
  • IOB Vidya Shrest
  • Skill Loan Scheme
Karnataka Bank
  • KBL Vidyanidhi Scheme
  • Skill Loan Scheme
Karur Vysya BankKVB Educational Loan
Kotak Mahindra Bank Ltd

Kotak Mahindra Bank Ltd

New India Cooperative Bank Limited

Vidya Vikas Loan Scheme

Oriental Bank Of Commerce

Oriental Bank Of Commerce

Pragathi Krishna Gramin Bank

Vidya Sagar Education Loan

Punjab And Sind Bank

  • Model Education Loan Scheme For Pursuing Higher Education In India And Abroad
  • Skill Loan Scheme
  • Psb Excellence- Education Loan Scheme For Premier Institutions (i.e. IITs/IIMs And ISB Hyderabad)

Punjab National Bank

  • PNB Kaushal
  • PNB Saraswati
  • PNB Pratibha
  • PNB Udaan

RBL Bank Ltd

Education Loan

State Bank of India

  • SBI Student Loan Scheme
  • SBI Global Ed-Vantage Scheme
  • SBI Scholar Loan Scheme
  • SBI Skill Loan Scheme

Syndicate Bank

  • Skill Loan
  • Syndvidya
  • Syndsupervidya

Tamilnad Mercantile Bank Ltd

  • TMB Education Loan
  • TMB-Skill Development Loan
  • TMB-Super Education Loan Scheme

UCO Bank

  • UCO Education Loan
  • UCO Super Premier Educational Loan
  • UCO Premier Educational Loan Scheme

United Bank of India

  • United Education Loan
  • United Superb Education Loan
  • United Education Loan Under Management Quota

Vijaya Bank

  • Education Loan To Students Admitted Under Management Quota (Non-IBA)
  • Skill Loan Scheme
  • IBA Model Education Loan – Top Rated Institutions – India
  • IBA Model Education Loan – Other Institutions – India
  • IBA Model Education Loan -Abroad

Yes Bank

Yes Educational Loan


The Vidya Lakshmi Portal remains a cornerstone in democratizing access to education loans in 2024, streamlining the process for students across India. By providing a comprehensive platform where students can explore, apply, and manage education loans online, it effectively bridges the gap between financial institutions and those seeking educational funding. 

For students aiming to apply for an education loan through the Vidya Lakshmi Portal in 2024, the key to a successful application lies in careful preparation of necessary documents, a clear understanding of loan requirements, and selecting the right loan product that matches their educational needs. 

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Frequently Asked Questions

Is Vidya Lakshmi a government portal?

Yes, Vidya Lakshmi is a single-window government portal for students seeking loans. It provides information related to the scholarships and banks that offer student loans. It has been created under the guidance of the Ministry of Finance, the Indian Banks Association (IBA), and the Ministry of Education.

How can I contact the Vidya Lakshmi support team?

On the top right of the Vidya Lakshmi Home page, you will see a “Contact us” button. You can click it, or you can call 020-2567-8300 for support. You can also reach out to them by sending a mail on vidyalakshmi@nsdl.co.in.

How can I check my Vidya Lakshmi Loan status?

It is very easy to check the loan status. You can do it by logging in to your account and clicking the “Application Status” button. The page will show you the loan status and remarks (if any).

Is the Vidya Lakshmi portal useful?

Yes, the Vidya Lakshmi portal is useful for students willing to study abroad or even in India and need financial assistance for their higher education. Moreover, there are many schemes to avail and get a loan. You can also access information on the interest rates the banks are charging and choose the most suited one.

How to cancel loan applications on the Vidya Lakshmi portal?

If you need to cancel your loan application, you need to contact the concerned bank where you have applied for the loan. There is no option to discontinue your loan application from the portal itself.

How to edit the loan application form in the Vidya Lakshmi portal?

There is no option for you to edit the Vidya Lakshmi portal application form. For any changes in the bank selection, you need to contact the bank for changes. However, you can change your profile details, such as name and contact number.

How to change bank in Vidya Lakshmi portal?

You need to choose the bank carefully at the time of registration on the portal. Once selected, you cannot change the bank through the portal. You will need to contact the bank directly in such a case.

Can I get an education loan from multiple banks with the Vidya Lakshmi portal?

A student can apply for an education loan in up to three banks on Vidya Lakshmi online portal using a single application form. The loan amount will depend on the course of study and the bank’s policies. Some banks may disburse a loan of ₹30 lakh with a minimum margin of 15% of the total expenses.

How much time does it take for an average education loan approval from the Vidya Lakshmi portal?

The approval for an education loan at the Vidya Lakshmi portal does not take much time. It takes only 15 days from the date of applying for the loan amount to get disbursed.

How many banks and education loan options are there on the Vidya Lakshmi portal?

There are 40 banks and 131 loan schemes available on the Vidya Lakshmi portal.

Neha Uppal

Sr. Content editor

Neha Uppal is a passionate content creator and editor. She carries 7.5+ years of experience working with leading edutech companies where she worked as a Faculty, Community Manager, and Content Marketeer. At upGrad, she is helping out people keep informed about the scopes and opportunities of studying abroad via informational articles/blogs.

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