Interest rates on Vidyalakshmi educational loans vary from bank to bank. You can choose the bank of your choice with the desired interest rate indicated by the bank in question. The maximum student loan you can get depends on the type of academic course you are pursuing, as well as the bank`s policies. In general, a loan of up to 10 lakh is granted to students with a minimum margin of 5% of the total cost of education in India. However, banks give up to 30 lakh to study in IIT, IIM and ISB with your own contribution of 5% of the total cost. If you are going to study abroad, you can get up to ₹ 20 lakh. Some banks may also offer up to 30 lakh with a minimum margin of 15% of the total cost. You can get a Vidya Lakshmi loan by applying through the Vidya Lakshmi online portal. Follow the steps below to apply for credit. Documents required from the co-applicant (if paid) Vidyalakshmi`s application portal gathers information about banks` educational loan programs in one place. You will need to provide the relevant bank with certain necessary documents when applying for a Vidya Lakshmi loan. The documents required may vary from bank to bank.

Some of the common documents that banks require to sanction the education loan are mentioned here. The bank marks the status of the loan application put on hold if the bank needs more information or documents to be submitted by the student. The request is displayed in the Notes column and the student can check it in the dashboard. The Vijaylakshmi educational loan has been a blessing for the country`s students. A number of people have benefited from the loan. Also, anyone from remote areas of India can apply for the loan, as it is fully online. The largest number of loan applications comes from TamilNadu, according to a report. Carefully read all vidyalakshmi terms and conditions on the Vidyalakshmi portal and carefully read all credit documents of the bank in question before applying. Students must complete the registration process to register on the Vidya Lakshmi portal. Only students who have completed the „Login” / „Registration” process can apply for an educational loan through the Vidya Lakshmi portal. Below are the documents required for a hassle-free disbursement of the student loan.

Currently, more than 36 Indian banks are listed on the Vidyalakshmi portal. Banks affiliated with the Indian Banking Association (IBA), which includes state-owned private banks and even NBFCs (non-bank financial institutions), and other companies are required to provide educational loans to students. There are some common documents from the Vidya Lakshmi portal required for property training, namely: According to IBA guidelines, loan processing takes 15 days after the date on which there is a fully completed application form with the required documents. The Common Education Loan Application Form is the only form that students can fill out to apply for a student loan from multiple banks/programs. CELAF is the application form required by the Association of Indian Banks (IBA) and accepted by all banks. This form is provided on the Vidya Lakshmi portal to apply for a student loan. Certain criteria must be met in order to receive the education loan on the property. The criteria that must be met by students to take advantage of the Vidya Lakshmi program are listed below. Within 15 days, the loan amount will be paid into your specified bank account. The Reserve Bank of India and the Indian Banking Association have set basic standard loan rates that must be followed by all Indian banks that provide educational loans to students throughout India. These interest rates are called the marginal cost of credit-based lending rates.

Banks cannot lend below the aforementioned RCMs, as they may face strict regulatory measures in the future. The interest rate, commonly referred to as ROI, is based on a percentage of these base rates, where banks add a range of 2% to 6% above their actual MCLR. MCLR changes monthly. To get the latest updates on the bank`s interest rate and process your educational loan application in India, contact our team at Vidyaloans who will monitor your loan application until it is approved. The Vidya Lakshmi program is an education loan program launched by the Government of India. Under this program, students can obtain educational loans by applying through the Vidya Lakshmi online portal. This system is introduced to make education loans easily accessible to those who need them for higher education. You can apply to three banks by filling out a common application form on the portal. You must be a citizen of India to take advantage of the loan to claim axis Bank Education Loan abroad.

You should have at least 50% guaranteed in HSC if you are looking for a loan to follow the close. If you aspire to graduate, you should have at least 50% graduation. 1. Your duly completed and self-certified vidya lakshmi portal application form 2. Passport photos of the loan applicant and co-applicant are required 3. Proof of identity such as voter card, PAN card, Aadhar card is required4. Proof of the applicant`s birth such as the 10th certificate, birth certificate is required5. Proof of residence including your Aadhar card, food card, passport, driver`s license, etc. Registration of your academic qualifications (e.B. X., XII., degree) 7. The letter of admission from the relevant university Vidya Lakshmi offers a considerable amount of long-term educational loans at reasonable interest rates. The main features and benefits of this educational loan program are listed below.

It is mandatory to show the correct documents for the process. If you apply with a co-applicant, the corresponding documents will also be required from the co-applicant. Note- Please understand that no changes can be made to the loan application form after submitting the application, which means that the chances of your loan application being rejected are high. Therefore, it is recommended that students looking for a study loan in India from government banks apply through Vidyaloans as they are the best service available in the market and help you fill out your Vidyalakshmi form on the portal and guide you through the loan process. Our process managers closely monitor the status of your loan application and will keep you informed accordingly. You can apply for a student loan from three different banks through the portal and a single application form. Eligibility criteria and general documents may vary from bank to bank, for which you can read our article on educational loan eligibility criteria and required documents, and contact our team at Vidyaloans to get support from professionals for your studies in India. In 2015, on the occasion of Independence Day, the Union Government launched a web portal called Vidyalakshmi Portal for students seeking educational loans. This portal allows students to create a loan application with all the necessary information and then access the information given by several banks about educational loans. Students can also apply for various government scholarships via the link to the National Scholarship Portal on the website.

The Vidyalakshmi portal initiative was considered by the Indian government, taking into account the struggle and funding constraints of students across India, to continue their studies. Since this portal was developed under the direction of Financial Services Development, Ministry of Finance, Ministry of Higher Education, Ministry of Human Resource Development and Association of Indian Banks (IBA), students can explore, view, compare, advertise online and track their application for loans and scholarships. Read this article to the end to get a clear overview of Vidyalakshmi`s lending. You can apply for the education loan against the property through the Vidya Lakshmi portal. The steps to follow for the loan application are listed below: If you want to apply for a study loan on the Vidya Lakshmi portal, you need to register on the portal. Please provide the essential details provided in the registration form. With the Vidyalakshmi portal, you can apply for an education loan online without having to go to the bank in person. This requires less paperwork and you can also send complaints to the bank directly through the portal.

Vidya Lakshmi Yojna is an educational loan program created by the Government of India where students can take out loans through an online portal. The Vidya Lakshmi portal was developed by NSDL e-Governance Infrastructure Limited with the aim of making educational loans easily accessible to students. .