Vidya Lakshmi – Search & Apply for Education Loans


Vidya Lakshmi (www.Vidyalakshmi.Co.In), a web-primarily based portal has been released by using the Union Government on the event of Independence Day i.E. 15th August, 2015 for the benefit of college students looking for Educational Loans.

Vidya Lakshmi Portal is a first of its type website presenting unmarried window for Students to get admission to facts and additionally make software for Educational Loans provided by Banks. It also affords a link to National Scholarship Portal in which college students can practice for numerous Government Scholarships.

The Portal has been advanced and maintained by NSDL e-Governance Infrastructure Limited (NSDL e-Gov) below the guidance of Department of Financial Services, Ministry of Finance, Department of Higher Education, Ministry of Human Resource Development and Indian Banks’ Association (IBA).

Features of Vidya Lakshmi Portal

Vidya Lakshmi Website - Search - Apply for Education Loans - Govt Scholarships

The Portal has the subsequent functions:-

  • Information about Educational Loan Schemes provided through the registered Banks.
  • Common Educational Loan Application Form (CELAF) for Students.
  • Facility to apply to more than one Banks for Educational Loans.
  • Facility for Banks to down load Students’ Loan Applications.
  • Facility for Banks to upload loan processing repute.
  • Facility for Students to e mail grievances/queries relating to Educational Loans to Banks.
  • Dashboard facility for Students to view status of their loan software and
    Linkage to National Scholarship Portal for information and application for Government Scholarships.

FAQs on Vidya Lakshmi website

How to check in on Vidya Lakshmi Portal?

How to apply for Educational mortgage through Vidya Lakshmi?

  • Login with you User Id & password.
  • Fill-up the Common Education Loan Application Form (CELAF) by way of imparting all of the vital info. This is a one-time system.
  • After finishing and filing the Loan Application Form, you can ‘Search’ for ‘Educational Loan Schemes’ provided via Banks that are registered on Vidyalakshmi portal.

What is Common Educational Loan Application Form (CELAF)?

  • The Common Educational Loan Application Form is the single form which college students can fill to apply for Educational Loan to more than one banks / schemes. CELAF is the software form prescribed through Indian Banks Association (IBA) and frequent via all banks.

How to test or music the popularity of my Educational Loan?

  • Login to website.
  • Click on ‘Application Status‘ to check your mortgage status.
  • The respective Bank will update the popularity of the utility on Vidya Lakshmi portal.

What have to I do if my Loan is rejected?

  • You might not be eligible as in line with the norms laid down by means of the chosen banks. You can touch the selected banks for greater info.

What is ‘On Hold’ Loan Status?

  • The Bank can mark your mortgage utility reputation as ‘On maintain‘ whilst the bank calls for a few similarly records or documents to be submitted through the you (pupil/applicant). (The requirement might be indicated within the ‘Remarks column’ and you could test the same within the dashboard)

Which are the banks that I can apply for Educational loan thru Vidya Lakshmi portal?

As of now thirteen banks are registered, specifically – State Bank of India (SBI), IDBI Bank, Canara Bank, Union Bank, Bank of India, Vijaya Bank, Central Bank of India, Corporation Bank, Dena Bank, Kotak Bank, Oriental Bank of Commerce and Punjab National Bank. These banks are imparting round 22 Educational Loan Schemes. This initiative of the Govt objectives to bring about board all Banks which are providing numerous Educational Loans Schemes.

How many programs for an Educational Loan can be submitted with the aid of a scholar?

A scholar can practice to a most of three Banks thru Vidya Lakshmi portal using CELAF.

How is the cash/educational loan allotted?

Approved Educational Loan of an applicant might be distributed immediately with the aid of the financial institution out of doors the Vidya Lakshmi Portal. You can also have to contact the respective financial institution for greater details.

What is charge of interest for the Educational loan?

The hobby fee varies from bank to bank and scheme to scheme. You can check the loan info on ‘Loan Search’ page itself.

What is National Scholarships Portal all about?

Government has also launched a website – www.Scholarships.Gov.In, that is a one-stop answer through which numerous services beginning from student utility, utility receipt, processing, sanction and disbursal of numerous scholarships provided by the GOI (Governemnt of India) to Students are enabled.

Benefits of National Scholarships portal are as under:-

  • One-time registration.
  • Common Application shape for all scholarships.
  • Based on eligibility standards, device itself indicates the schemes for which a pupil is eligible.
  • Elimination of replica scholarship packages.
  • Release of scholarship amount at once to bank bills of college students through DBT (Direct Benefit Transfer).


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