Skip to main content
Pucho

Schemes / Government of India

PM Vidyalaxmi

Central schemeStudent

Collateral-free and guarantor-free education loans for students admitted to quality higher education institutions, with a credit guarantee and interest subvention for lower-income families.

What you get

Education loans without collateral or guarantor covering fees and related expenses; a 75% government credit guarantee for loans up to ₹7.5 lakh; and 3% interest subvention during the moratorium on loans up to ₹10 lakh for students with family income up to ₹8 lakh.

Who can apply

  • Students admitted to notified quality higher education institutions (QHEIs) based on NIRF rankings
  • Interest subvention for family income up to ₹8 lakh and students not receiving other government scholarships/interest subvention

How to apply

  1. Apply on the PM-Vidyalaxmi portal, which lists loans from multiple banks
  2. Track status on the portal; interest subvention is claimed through the portal
Official scheme page ↗Ask about my eligibility

Nodal authority: Ministry of Education. Amounts and rules change — the official page is the final word.