Education Loan Scheme by Indian Prime Minister Narendra Modi for Students

education loan scheme by narendra Modi

Prime Minister Narendra Modi not only developing the nation but also enhancing youth education. Such an Incident can be seen by announcing another education loan scheme by Narendra modi for students. Let’s reveal how the government helping students by their new Scheme.

The government of India released a website, vidyalakshmi.Co.In, for students looking for educational loans, there are 33 banks that are participating to provide students loans in the portal. “Vidya Lakshmi (www.Vidyalakshmi.Co.In) was released on Independence Day i.e., 15 Aug 2015 for the benefit of students in search of Study or Education loans,” a Finance Ministry release stated.

Finance Minister Arun Jaitley said in his valuable speech for 2015-2016 had proposed to install an IT-based totally student financial applicable resource authority to administer and monitor scholarships as well as instructional loan schemes through Pradhan Mantri Vidya Lakshmi Karyakram (PMVLK).

Steps to get Education Loan so fast

Following the 4 working steps that will help you to get easy accessible to all the possible banks where you can apply for the loan.

  1. Register on the internet site https://www.Vidyalakshmi.Co.In/
  2. After registration > and email verification > log in.
  3. After login into the account fill out the form > commonplace education loan software form
  4. Then you could observe several banks and check your reputation for approval.

Types of Education Loans Scheme Regulated by Narendra Modi for the Students

The education loan scheme by Narendra Modi isn’t always simply confined to one specific course of circulation or to institutions in India. You may observe for technical, professional, vocational, and degree publications from Indian universities or study abroad. You can observe a loan quantity of beneath Rs.4 Lacs, between Rs.4 Lakh to Rs. 7.5 Lakh or above Rs. 7.5 Lacs and practice to 33 banks with an unmarried utility at the Vidya Lakshmi Portal. Schooling loan via Modi is supporting heaps of students fulfil their dream of Studying overseas. Also get to know about Quick Loans Online if you want it quick.

Who are in the back of Vidya Lakshmi instructional Loans?

Vidya Lakshmi is of route a brain toddler of Modi authorities however there are several groups that helped to understand this unique idea and provide it a form. The internet site has been developed by way of NSDL e-Governance Infrastructure constrained. The employer is responsible for retaining the internet site. However, different our bodies have been involved in supplying the essential guidance for the development of the portal. This bodies include:

  • Human Resource Development or HRD Ministry of Indian government.
  • Finance Ministry of government of India.
  • Financial Services Department of Indian government.
  • IBA or Indian Banks’ Association.
  • Higher Education Department of Indian government.


Q 1 – How much loan is granted under the schooling loan scheme through Narendra Modi?

There are numerous styles of loans below the Scheme but you can get a loan of extra than Rs. 7.5 lakhs beneath the education loan scheme by means of Narendra Modi.

Q 2 – can we declare an education loan scheme by means of Narendra Modi for admission into foreign universities?

Sure, you can.

Q 3: Will all banks offer the same interest rate?

No, most of the financial institutions rate 2% – 6% above the MCLR. You could additionally calculate the month-to-month EMI with the aid of visiting the professional internet site of the bank. But, the interest costs range from 7% – 13% depending on various factors.