What are the documents required for Vidyalakshmi education loan?

Vidya Lakshmi – Education Loan

  • Mark sheet of last qualifying examination;
  • Proof of admission (should compulsorily consist the name of institution and course)
  • Proof of income / assets (if any)
  • Photos to be provided for Student / Parent / Guarantor, whose income details have been provided.

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Likewise, people ask, how can I apply for Vidyalakshmi?

Steps to Register on the Vidyalakshmi Portal

  1. Step 1: Visit the portal and register using a Login ID and a strong password.
  2. Step 2: Provide details such as date of birth, age, name, phone number and email ID accurately.
  3. Step 3: On submitting, a confirmation link will be sent to your registered email ID.
Keeping this in consideration, how can I check my loan status in Vidyalakshmi portal? How to access the dashboard & search for loan schemes on the Vidyalakshmi portal?

  1. Revisit the Vidyalakshmi login page, select the ‘Student Login’ option, and log in to your account using your credentials.
  2. Remember, each login session lasts about 10 minutes.

Also to know is, how can I get approved for education loan?

Documents required for Education Loan

  1. KYC documents.
  2. Bank Statement / Pass Book of last 6 months.
  3. Optional – Guarantor Form.
  4. Copy of admission letter of the Institute along with fees schedule.
  5. Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses.

How much loan can I get from Vidya Lakshmi?

The interest rate on Vidya Lakshmi education loan starts from 8.40%. This education loan is available up to ₹ 4 Lakh without any collateral for a tenure of up to 15 years.

Is property required for education loan?

Generally, education loans are unsecured in nature.It means you do not have to pledge any asset as collateral. However, education loans with loan amount of Rs. 7.5 lakh or higher, may require collateral. Though there is no cap on the disbursed loan amount, the loan amount can range anywhere between Rs 20-50 lakhs.

Is security required for education loan?

Collateral Required for Education Loan

According to RBI, the maximum amount eligible for a study loan for courses in India is Rs. … 4 lakhs does not require collateral security. It is only when the loan exceeds a specified amount as set by the bank that collateral will be required as well as third-party guarantee.

Is Vidyalakshmi portal mandatory?

“The Department of Financial Services has made it mandatory for all the banks to accept the education loan applications only through the NSDL portal. … Vidya Lakshmi is the IT-based Student Financial Aid Authority to administer and monitor scholarships as well as education loan schemes.

What are the documents required for Vidyalakshmi portal?

Mark sheet of last qualifying examination • Proof of admission to the course • Schedule of expenses for the course, from the Institution • Passport size photographs of the applicant / parent / Co-obligant / Guarantor (2 copies each) • Proof of income / assets (if any) • Latest salary certificate and form No.

What is the use of Vidyalakshmi loan?

The Vidyalakshmi education loan scheme provides students with a single portal to access information on education loans offered by financial institutions. They can apply with up to 3 lenders via one application form, track status, etc.

What is Vidya Lakshmi portal?

Vidya Lakshmi is a first of its kind portal for students seeking Education Loan. … Students can view, apply and track the education loan applications to banks anytime, anywhere by accessing the portal. The portal also provides linkages to National Scholarship Portal.

What is Vidyalakshmi educational loan?

Vidya Lakshmi is a first of its kind portal for students seeking Education Loan. … The portal has been developed and being maintained by NSDL e-Governance Infrastructure Limited. Students can view, apply and track the education loan applications to banks anytime, anywhere by accessing the portal.

Which bank is best for Vidyalakshmi loan?

Vidya Lakshmi education loan scheme is extended to 39 banks and 130 loan schemes. The interest rate starts from 8.40%, and the loan is up to INR 4 Lakh.

Abhyudaya Co-Operative Bank Karnataka Bank Central Bank of India
Bank of Baroda RBL Bank Federal Bank

Which bank is the best for education loan?

Compare Top Education Loan Offers 2021

Name of Bank Interest Rate (p.a.) Loan Amount
Bank of Baroda 7.85% to 9.85% Up to 4 Lakh and above
HDFC 9.55% to 13.25% Max Apr
Tata Capital 10.99% onwards Up to 30 Lakh
Union Bank of India 8.80% to 10.05% Need-based finance

Which courses are eligible for education loan?

Some of the courses include:

  • Computer certificate course.
  • Engineering diploma.
  • Certificate courses from ITI.
  • Data entry operator course.
  • Nursing/Teacher Training certificate courses and B. Ed.
  • Agri diploma.
  • Veterinary diploma.
  • Any job-oriented diploma or certificate course.

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