Prime Minister Vidyalaxmi Scheme
75% government credit guarantee on education loans up to ₹7.5 lakh for meritorious students admitted to India's top 860 QHEIs.
About this scheme
The PM-Vidyalaxmi scheme is a central sector initiative by the Government of India designed to ensure that no meritorious student is denied higher education due to financial constraints. It provides a completely digital, transparent, and seamless ecosystem for accessing collateral-free and guarantor-free education loans to pursue higher studies in the nation's premier institutions. The scheme covers 860 Qualified Higher Education Institutions (QHEIs) across India and provides a 75% government credit guarantee on loans up to ₹7.5 lakh, making quality higher education accessible to deserving students.
Eligibility
- Nationality: Must be an Indian national
- Institution: Must have secured admission on merit (excluding management quota) to any of the designated top 860 QHEIs in India
- Education level: Applicable for both undergraduate and postgraduate degree/diploma programmes
Benefits
- 75% Government credit guarantee on education loans up to ₹7.5 lakh
- Collateral-free and guarantor-free education loans
- Completely digital application and tracking process
- Ability to compare offers from multiple banks on a single platform
- Interest subvention available for eligible students
Required documents
- Aadhaar Card
- PAN Card
- Passport-sized photographs
- Class 10 marksheet
- Class 12 marksheet
- Graduation marksheets (for postgraduate courses)(optional)
- Entrance exam scorecard
- Official admission letter
- Official schedule of fees from the institution
Frequently asked
Looking for more schemes like this?
Tell the assistant about your situation and discover everything else you may qualify for.