PM Vidyalaxmi Scheme:
The main objective of PM Vidyalakshmi Yojana is to provide financial assistance for higher education to economically weaker students. Under this scheme, education loan up to Rs 10 lakh will be provided to the students without any guarantee. This step has been taken to help those students who are not able to continue their studies due to financial constraints.
Loan amount and terms
Under this scheme, students will be given loans up to Rs 10 lakh. Notably, students whose annual family income is up to Rs 4.5 lakh will get full interest subsidy. Apart from this, those whose annual income is up to Rs 8 lakh will also get three percent interest rebate on loans up to Rs 10 lakh.
This is the process of getting loan
Students will have to submit some required documents to avail the benefits of this scheme, such as Aadhaar card, family income certificate, and 12th class mark sheet. The application process will be completely online and selected students will receive the funds in their bank account immediately.
Know what is the eligibility criteria
The benefit of this scheme will be available only to those students who take admission in the top 850 higher education institutions of India. These institutions will be identified by the National Institutional Ranking Framework (NIRF). Every year about 22 lakh students will benefit from this scheme.
This is how to apply for the scheme
The process of applying under PM Vidyalakshmi Yojana has been made simple and convenient. Here is the step by step description of how you can apply for this scheme. First of all, you have to go to the official website of PM Vidyalakshmi Yojana.
This portal is available for all necessary information and application process. On the home page you will get the option of registration. Click on it and fill a small application form. This will include your personal information like name, address, email ID etc.
Education Loan Information:
Calculate Education Loan EMI
