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Vidya Lakshmi Education Loan

Vidya Lakshmi Portal is a central IT-based education loan portal which helps you in reaching out to various banks and apply for an education loan The portal has been developed and is being maintained by NSDL e-Governance Infrastructure Limited under the guidance of Department of Financial Services (Ministry of Finance), Department of Higher Education (Ministry of Human Resource) and the Indian Bank Association (IBA). Through the portal, students can view, apply, and track the education loan applications to banks from anywhere and at any time.

Features of Vidya Lakshmi Portal

The features of Vidya Lakshmi Portal are listed below:

  • You can apply for educational loans in multiple banks using the portal
  • You do not need to submit multiple application forms for availing an education loan
  • You can avail information about the different educational loan schemes offered by banks
  • Banks can easily download your loan application
  • Banks can upload the loan processing status on the portal
  • You can email grievances or queries to banks regarding the educational loan
  • You can link it to the National Scholarship Portal for information and application of government scholarships.

Eligibility Criteria for Subsidy

The eligibility criteria for availing an educational loan through the portal are:

  • Education loan must be availed under the IBA Model Education Loan Scheme
  • Parental income should not be more than Rs.4.5 lakhs per annum
  • Students should be enrolled in NAAC and NBA accredited institutions, institutions of national importance or Central Funded Technical Institutions. Professional institutions which do not come under NAAC or NBA would need the approval of the respective regulatory body

Learn More: Education Loan Subsidy

Interest Rates

The education loan interest rate varies depending on the bank and the education scheme. You can check the exact percentage on the portal before applying.

Vidya Lakshmi Portal Registration Procedure

To use the Vidya Lakshmi portal, you need to register yourself first. You can do so by following the process listed below:

  • Visit the official website of Vidya Lakshmi
  • Click on ‘Register’
  • Enter the basic details like name, mobile number, and email ID
  • Agee to the terms and conditions and click on ‘Submit’
  • On doing so, an activation link will be sent to the email ID you provided
  • You need to click on the link sent to your mail to activate the account

Vidya Lakshmi Portal Login Procedure

You can login to the portal after the registration process is completed. To login, you need to follow the steps mentioned below:

  • Visit the official website
  • Click on ‘Login’
  • Select ‘Student Login’
  • Enter the email ID, password created at the time of registration, and the captcha code displayed on the screen
  • Select ‘Login’

How to Search for Education Loan in Vidya Lakshmi Portal

Once you login to the portal, you can search for education loans offered by different banks. To search, follow the steps mentioned below:

  • Click on ‘Search for Loan Scheme’ tab.
  • Select the appropriate option under the location of study, course, and loan amount
  • After doing that, click on ‘Search’
  • On doing that, a list of banks will be displayed along with the respective loan schemes

Vidya Lakshmi Portal Education Loan Application Procedure

The process involved when it comes to applying for an education loan through the Vidya Lakshmi portal is listed below:

  • Once the loan listings are displayed on the screen, you have the option of locating the closest bank branch or applying for the education loan
  • On selecting the latter option, you will be redirected to fill in the Common Education Loan Application Form (CELAF)
  • There, you will see seven tabs under the heading of instructions, basic information, personal information, present banker details, course details, cost of finance details, and upload documents.
  • You need to go ahead and fill in the details asked for. Once, you are done with filling the details in every tab click on ‘Submit’, then ‘Save’ and finally ‘Next’.
  • The form will be used to apply individually to the respective bank and scheme chosen up you.

How Can You Check the Application Status of the Education Loan?

Once the application is submitted you can check the status of your application by visiting the ‘Application Status’ tab located on the home page. You can also contact the bank whose education scheme you had opted for while applying.


1. Does Vidya Lakshmi have any branches?

Yes, in addition to the head office located in Mumbai, Vidya Lakshmi has four branches across the country. They are in Kolkata, Chennai, New Delhi, and Ahmedabad.

2. If my application for the education loan is approved, how will the money be disbursed?

The money will be disbursed directly by the bank. To know the details, you need to contact the bank where you have applied for the loan.

3. In case, I have any grievances whom do I contact?

In such a scenario, you can send a mail at

4. Can I avail a loan from a private sector bank using the portal?

Yes, it is possible. This is because almost all the banks operating in the country are listed in the portal.

5. Can an education loan be availed for a vocational course?

Yes, a loan can be availed for a vocational course.

6. What is the moratorium period if I avail the Central Sector Interest Subsidy Scheme?

The moratorium period will be course period plus one year.

7. Which is the nodal bank when it comes to the CSIS scheme?

The CSIS scheme is implemented through Canara Bank.

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