Vidya Lakshmi (Education Loan Portal)

Required documents

• Admission proof / offer letter from the institution
• Academic records/mark sheets
• Identity and address proof of the student and co-applicant
• Income proof of the co-applicant/guarantor
• Bank-specific KYC documents (varies by the bank you apply to)

Eligibility

• • Students who have secured admission (or a confirmed offer) to a recognised course in India or abroad
• • A co-applicant/guarantor is typically required, as per each bank's own lending criteria

Step-by-step guide

1. 1

   Register on the official portal (vidyalakshmi.co.in) with your basic details.

2. 2

   Fill in the Common Education Loan Application Form (CELAF) once — name, course, institution, loan amount needed and co-applicant details.

3. 3

   Search and shortlist education loan schemes across participating banks based on your course and amount.

4. 4

   Apply to multiple banks with the same submitted form, rather than filling separate paperwork for each.

5. 5

   Track every application's status on the portal, and follow up directly with the bank once it's shortlisted your application for processing.

Frequently asked questions

Common mistakes to avoid

• • Applying to only one bank instead of comparing shortlisted offers across several
• • Not checking each bank's specific collateral/co-applicant requirements before applying, since they vary by loan amount and bank
• • Assuming the portal itself approves the loan, rather than the individual bank

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