An educational  loan, up to Rs 75 lakh through vidya lakshmi portal

         Today I would like to inform you about  an educational loan.  Educational  loans are offered by banks to students for their higher studies. It is an unsecured loan . It is used to cover educational expenses  like books, hostel,library,project tours,transportation, accommodation  etc.  It reduces strains of family  savings. It will increase the liability  further.

       Always finish the first educational loan before the second one. The amount to be spent  on each course increases.  Today we can see how to get an educational loan easily.

         We can see a scheme. It is a central  government  scheme. The Ministry of finance, Indian Bank associations, union Ministry  of human rights are joined and start this scheme to provide education  for all students. 

        This scheme is called vidya lakshmi scheme. Students can apply for this loan  through  vidya lakshmi portal. It is launched by the central government. The annual income should be less than Rs 4.5 lakh, and will get a subsidy  from the government. 


Passport size photo

Income certificate 

Salary certificate 

Marksheet of last qualifying examination 

Proof of admission 

Expenses of course

        The student should register the vidya Lakshmi portal. Fill up the application  form . This portal includes 30 banks in the country. The students  studying in India get loans for AICTE,UGC, graduate,PG,professional, technical diploma  courses,IITS,IIMS,government  approved  teacher training, nursing courses,shipping,pilot training, marine courses, civil aviation  etc.

       Abroad studying  students can also apply  for these loans. Vocational  courses, technical courses,professional  courses,MBA,MCA,PG courses,Diploma  courses,MS ,CPA,CMA courses students canals apply for this scheme.

          From this scheme  the students studying  in India get up to Rs 75 lakh and work abroad can get loans up to Rs 1.5 crore. Repayment of this loan based on interest and maturity.  The maximum period of repayment  is 15 years. You can apply to three banks.

          No collateral is required for loans up to Rs 7.5 lakh. The loan repayment starts after the end of the study period.

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