PM Vidya Lakshmi is India's central government portal for education loans. It connects students to 40+ banks through a single application. Here's everything you need to know to apply successfully in 2026.

What is PM Vidya Lakshmi?

Launched in 2015, PM Vidya Lakshmi is a government-backed portal (vidyalakshmi.co.in) where students can apply for education loans from multiple banks using a single form — the CELAF (Common Education Loan Application Form). Over 40 banks are registered, and the scheme is linked with PM Scholarship schemes too.

PM Vidya Lakshmi Eligibility 2026

  • ✅ Indian citizen, age 18–35
  • ✅ Admission in a government-recognised college/university (India or abroad)
  • ✅ Course: graduation, post-graduation, diploma, vocational, PhD
  • ✅ No minimum marks cutoff under the scheme (individual banks may have their own)
  • ✅ Co-applicant required: parent, spouse, or guardian

How to Apply on Vidyalakshmi Portal — Step by Step

  1. Go to www.vidyalakshmi.co.in → Register with your email and mobile
  2. Login → Click "Apply for Education Loan"
  3. Fill the CELAF form — one form applies to all banks simultaneously
  4. Upload documents: admission letter, marksheets, income proof, ID proof
  5. Select up to 3 banks to apply to in one go
  6. Track application status under "Loan Applications" tab
  7. Bank will contact you within 15 working days for verification

Interest Subsidy Under Vidya Lakshmi / Central Scheme

Under the Central Sector Interest Subsidy (CSIS) linked to the portal:
• Full interest subsidy during moratorium period for students with parental income below ₹4.5 lakh/year
• Applicable only on loans up to ₹7.5 lakh
• Courses must be in NAAC-A or NBA-accredited institutions

Even if you don't qualify for subsidy, PM Vidya Lakshmi gives access to competitive rates from PSBs starting at 8.15%.

Need Help With Your Application?

The Vidya Lakshmi portal can be confusing — banks often reject applications due to document errors or form mistakes. StudyCapital's experts have helped 500+ students navigate the process successfully. We'll fill the form, follow up with the bank, and ensure you get the best rate available.