Ministry of Education
PM Vidyalaxmi Scheme
Collateral-free loans up to ₹10 lakh with a 75% government credit guarantee on loans up to ₹7.5 lakh, plus 3% interest subvention during the moratorium period for families earning ₹4.5–8 lakh/year
A Government of India scheme that gives students collateral-free and guarantor-free education loans to study at top-ranked Indian higher education institutions. It consolidates bank education loan schemes onto one common digital platform and adds a government credit guarantee to encourage banks to lend to more students.
Am I Eligible?
Quick check — answer 3 questions
Is your age between 0 and 100 years?
Is your annual family income under ₹8.0 Lakh?
Do you live in India?
Benefit Details
Collateral-free loans up to ₹10 lakh with a 75% government credit guarantee on loans up to ₹7.5 lakh, plus 3% interest subvention during the moratorium period for families earning ₹4.5–8 lakh/year
Provided by Central Government
Eligibility Criteria
Students who have secured merit-based admission (not management quota) to one of 1,051 identified top-ranked higher education institutions in India
0 to 100 years
Up to ₹8.0 Lakh / year
Rural & Urban (Both)
Required Documents
💡 Tip: Keep original documents and 2 photocopies ready. Self-attest all photocopies.
How to Apply
Register on portal
onlineVisit pmvidyalaxmi.co.in and create an account with your mobile number and email
Fill loan application
onlineEnter admission, course, and institution details along with the loan amount required
Upload documents
onlineSubmit admission letter, fee structure, Aadhaar, and income proof
Get matched with banks
onlineThe portal shares your application with multiple banks; compare offers and select one
Loan sanction and disbursal
online / offlineComplete bank-specific KYC/verification; approved loan amount is disbursed directly to the institution
Frequently Asked Questions
Quick Summary
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⚠️ Disclaimer: Information is compiled from official government sources for guidance purposes. Eligibility and benefits may vary. Always verify with the official portal or nearest government office before applying.
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