Education loan: Follow step by step process to apply for loan from Vidyalakshmi website

If you are planning to take education loan then government’s Vidyalakshmi website might be a better option for you. Check out the details and steps to apply for the loan.

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Get education loan with government’s Vidyalakshmi website

New Delhi: If you are planning to take education loan then government’s Vidyalakshmi website might be a better option for you. Instead of going through the tedious process of applying and visiting banks to get one, this website can help you out.

Vidyalakshmi website- www.vidyalakshmi.co.in, can help the students to view, apply and track the education loan application to the banks anytime from anywhere. It offers linkages to the National Scholarship Portal as well. It should be noted that this portal has been developed and maintained by the National Securities Depository (NSDL) e-Governance Infrastructure. According to the website, 36 banks such as Canara Bank, Dena Bank, Kotak Mahindra Bank, Axis Bank, among others are registered on this platform. Students can choose from 110 loan scheme.

Here’s how to apply for education loan from Vidyalakshmi website-

1. Go to vidyalakshmi website- www.vidyalakshmi.co.in.

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2. Now register and create an account to sign in.
3. On the page opened, fill in your personal details such as name, email ID, etc. Tick in the box to agree to the terms and conditions and click ‘Submit’.

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4. You will receive an activation link in the registered email ID. Now go to your mailbox and open the given link. This activation link will be valid only for 24hrs.
5. Now re-enter your email ID, password and the captcha.

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6. Before filling up the loan application, browse through the loan schemes available with the registered banks. Click on the tab ‘Search for Loan Scheme’. Here you can apply up to three banks and one scheme of each bank.
7. Now if you click on to apply for the loan, you will be asked to fill the application form.
8. Fill the Common Education Loan Application Form (CELAF). Keep your documents like income proofs, ID proofs, highest education certificates handy while filling up the form.
9. Read all the instructions and detailed guidelines related to the loan amount, income, contact details, etc.

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10. Follow the instructions mentioned on the website, which are self-explanatory.

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This form will be used to apply for a loan in the respective bank. Make sure that fill your basic details carefully. You can even check application status from this portal.

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