Kind attention for applicants:
All education loans under model education loan scheme of the Indian Banks Association (IBA) are now made accessible through a simple, transparent, student-friendly and entirely digital application process.
To apply for the education loan please click on https://pmvidyalaxmi.co.in/
This portal is also for interest subvention on education loan to eligible students.
The portal DOES NOT ASK FOR PAYMENT OF ANY KIND from its applicants
It is therefore advised not to make any Payment and to be aware of any calls, SMSs, emails, whatsapp messages and scam/fake websites that look deceptively like https://pmvidyalaxmi.co.in/ and solicit for payments in exchange for quick approvals/ disbursals.
FURTHER, DO NOT SCAN ANY QR CODE OR USE ANY OTHER LINK WHICH CLAIMS TO RECEIVE DISBURSEMENT IN YOUR ACCOUNT
EDUCATION LOAN DISBURSEMENTS WILL BE DONE BY CONCERNED BANK.
Students willing to apply for interest subvention on education loans will have to apply on the https://pmvidyalaxmi.co.in/ portal after disbursement of first instalment of education loan.
After selection of students, they will be informed in their login in the https://pmvidyalaxmi.co.in/ portal as well as via SMS and whatsapp messages (during applying for education loan, student has to give consent to receive whatsapp messages).
Students selected for interest subvention during moratorium period will have to download "PM Vidyalaxmi Digital Rupee" APP from play store/ Appstore for further processing of their interest subvention claims. This app is to be used in all the years for claim of interest subvention.
The APP DOES NOT ASK FOR PAYMENT OF ANY KIND from its applicants
It is therefore advised not to make any Payment and to be aware of any calls, SMSs, emails, whatsapp messages and scam/fake APPs that look deceptively like "PM Vidyalaxmi Digital Rupee" APP and solicit for payments in exchange for quick approvals/ disbursals.