University Admissions

Pradhan Mantri Vidyalaxmi (PM-Vidyalaxmi) Scheme - Portal for applying Education Loan

 

About PM-Vidyalaxmi Scheme
The Government of India has approved PM-Vidyalaxmi scheme to provide financial support to meritorious students so that financial constraints do not prevent any youth of India from pursuing quality higher education. A special loan product has been introduced to enable for collateral free, guarantor free education loans to meritorious students who get admission in the top quality higher educational institutions of the nation; made accessible through a simple, transparent, student-friendly and entirely digital application process. Furthermore, for students with up to Rs. 8 lakhs annual family income, the scheme will also provide for 3% interest subvention on loans up to Rs 10 lakh. The salient features are:

• A special loan product will enable collateral free, guarantor free education loans.
• Simple, transparent, student-friendly and entirely digital application process.
• 3% interest subvention during moratorium to One Lakh students with family income up to Rs 8 Lakh.
• Full interest subvention during moratorium for loans up to Rs. 10 Lakh for students with family income up to Rs 4.50 Lakh.
• Loan amounts up to Rs. 7.5 lakhs will be provided a 75% credit guarantee by the Government of India through NCGTC.
• Education Loans under Management Quota not Eligible
• The Scheme is applicable for all Scheduled Banks/Regional Rural Banks (RRBs)/Cooperative Banks

Panjab University and PM-Vidyalaxmi Scheme
Panjab University, Chandigarh has been identified as one of the top institutions for the implementation of the PM-Vidyalaxmi Scheme. As a leading institution of learning, the Panjab University believes that access to education is a powerful tool for transforming lives and promoting gender equity. In alignment with this vision, Panjab University actively facilitates smooth application processes, and extends continuous support to eligible students. By integrating the objectives of the PM Vidyalaxmi Scheme into its broader mission of inclusive and equitable education, Panjab University continues to champion the cause of gender equality, socio-economic upliftment, and nation-building through the power of education.

About PM-Vidyalaxmi Portal
PM-Vidyalaxmi is a Unified Portal for the students to apply for education loan provided by scheduled commercial banks, co-operative banks, RRBs & private banks and submit application for Educational Loan & Interest Subvention.

Students can apply online for education loan and interest subvention under PM-Vidyalaxmi Scheme at https://pmvidyalaxmi.co.in