Student Loans in India. FAQ on Education Loan India


Multiple accounts by student is not allowed in Vidya Lakshmi portal. Student can register only once on Vidya Lakshmi Portal.

Vidya Lakshmi Portal provides single window for Students to access information and make application for Educational Loans provided by Banks and Govt Scholarships. It has the following features:

  1. Information about Educational Loan Schemes of Banks
  2. Common Educational Loan Application Form for Students
  3. Apply to multiple Banks for Educational Loans
  4. Facility for Banks to download Students Loan Applications
  5. Facility for Banks to upload loan processing status
  6. Facility for Students to email grievances/queries relating to Educational Loans to Banks
  7. Linkage to National Scholarship Portal for information and application for Govt Scholarships

The applicant must register and login to Vidya Lakshmi portal and then fill-up the Common Education Loan Application Form (CELAF) by providing all the necessary details. After filling the form, the applicant can search for Educational Loan and APPLY as per his/her needs, eligibility and convenience.

Alternatively, the applicant can also search for Educational Loan after login and apply for the suitable Educational Loan by filling the CELAF.

The Common Educational Loan Application Form is the single form which students can fill to apply for Educational Loan to multiple banks / schemes. CELAF is the application form prescribed by Indian Banks Association (IBA) and accepted by all banks. This form is provided on Vidya Lakshmi portal to apply for Educational loan.

Students are required to complete sign up process to register on Vidya Lakshmi portal. Only Students who have completed "Sign up" / "Registration" process can apply for educational loan through Vidya Lakshmi portal.

You can click on Forgot password option provided on the Login page of Vidya Lakshmi portal and you will be asked to provide your registered e-mail address. Vidya Lakshmi portal will send a system generated password through an e-mail.

The Bank will update the status of the application on Vidya Lakshmi portal. Students can view the status of the application on the applicant's dashboard on the portal.

You may not be eligible as per the norms laid down by the selected banks. Please contact the selected banks for more details.

The Bank will mark the loan application status to on hold when the bank requires some further information or documents to be submitted by the student. The requirement will be indicated in the Remarks column and Student can check the same in the dashboard.

Approved Educational Loan of an applicant will be disbursed directly by the bank outside the Vidya Lakshmi Portal. To know more, contact the bank you have selected.

To view the list of registered banks on Vidya Lakshmi, Please see at the bottom of Home page.

A student can apply to a maximum of three Banks through Vidya Lakshmi portal using CELAF.

To Edit the Loan Application Form and Reapply to the same scheme again, request all applied banks to Close/Reject your applications on Vidya Lakshmi. Once all applications gets Closed/Rejected, 'Reapply for New Loan Scheme' option would get enabled in Loan Application Form tab.

The interest rate varies from bank to bank and scheme to scheme. Therefore, the applicant/student is requested to check the same on Loan Search page after login.

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