PM-Vidyalaxmi education loan scheme
Collateral-free and guarantor-free education loans for meritorious students admitted to eligible quality higher education institutions in India.
Eligibility
Students admitted on merit to an eligible Quality Higher Education Institution in India for a degree or diploma programme. Management-quota admissions are not eligible. Current institutional and course eligibility must be checked on the official portal.
Potential benefits
Collateral-free and guarantor-free education loan product; repayment tenure up to 15 years excluding the moratorium; eligible families with annual income up to ₹8 lakh may receive 3% interest subvention on loans up to ₹10 lakh during the moratorium, subject to scheme limits and conditions.
How to apply
Check the current eligible-institution list and scheme guidelines. Register on the official PM-Vidyalaxmi portal, complete the education-loan application, upload the required admission, identity, income and academic documents, select a participating lender and track the application online.