PM Vidya Lakshmi — Quick Overview
| Scheme Name | PM Vidya Lakshmi Scheme 2026 — Collateral-Free ₹10 Lakh Education Loan | pmvidyalakshmi.co.in |
| Launched By | Government of India |
| Launch Year | 2024 |
| Benefit | Up to ₹10 lakh collateral-free education loan + 3% interest subvention (income ≤₹8L) + full interest waiver during moratorium (income ≤₹4.5L) |
| Category | Education |
| Last Verified | 1 May 2026 |
| Official Portal | https://pmvidyalakshmi.co.in |
What is PM Vidya Lakshmi?
PM Vidya Lakshmi Scheme, approved by Cabinet in November 2024, provides collateral-free education loans of up to ₹10 lakh to meritorious students admitted to Quality Higher Education Institutions (QHEIs). Students from families with annual income up to ₹8 lakh get a 75% credit guarantee, removing the need for collateral or guarantor. For families with income up to ₹4.5 lakh, the government pays the full interest during the moratorium (study period + 1 year). Students can apply to up to 3 banks simultaneously through a single Common Education Loan Application Form (CELAF) at pmvidyalakshmi.co.in.
Under this scheme, eligible beneficiaries receive Up to ₹10 lakh collateral-free education loan + 3% interest subvention (income ≤₹8L) + full interest waiver during moratorium (income ≤₹4.5L). The scheme was launched in 2024 and is implemented by the Government of India.
Benefits of PM Vidya Lakshmi
Up to ₹10 lakh collateral-free education loan + 3% interest subvention (income ≤₹8L) + full interest waiver during moratorium (income ≤₹4.5L)
Who is Eligible for PM Vidya Lakshmi?
- ✓Admitted to a recognised Quality Higher Education Institution (QHEI) — check the list at pmvidyalakshmi.co.in
- ✓Indian citizen
- ✓For 75% credit guarantee: family annual income below ₹8 lakh
- ✓For full interest subvention during moratorium: family income below ₹4.5 lakh
- ✓Merit-based or entrance exam-based admission
- ✓Applicable for domestic courses (international study has separate terms)
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Documents Required for PM Vidya Lakshmi
How to Apply for PM Vidya Lakshmi Online?
- 1Visit the official portal at https://pmvidyalakshmi.co.in
- 2Click on Apply Now or Register button on the homepage
- 3Enter your Aadhaar-linked mobile number and verify OTP
- 4Fill in the online application form with required details
- 5Upload the required documents including Aadhaar and bank passbook
- 6Review all details and submit the application
- 7Note down the application reference number for future tracking
- 8Wait for verification and approval from the concerned authority
Official Government Portal
Apply directly on the official government website. This is the only authorised portal — never pay anyone to apply on your behalf.
🔗Apply on pmvidyalakshmi.co.inFrequently Asked Questions — PM Vidya Lakshmi
Common Questions About Education Schemes
What is PM YASASVI Scholarship?+
It is a scholarship for OBC, EBC, and DNT students studying in Classes 9-12, selected through the YASASVI Entrance Test conducted by NTA.
How much scholarship amount is given?+
Students in residential schools/hostels get ₹75,000/year and day scholars in top-class schools get ₹25,000/year.
Which students are covered under PM POSHAN?+
All students studying in Classes 1 to 8 in government, government-aided schools, and Ashram Shalas. Bal Vatika pre-primary students are also included since 2021.
What nutrition standards apply to the mid-day meals?+
Meals must provide 450 Kcal energy and 12g protein for primary students (Class 1 to 5), and 700 Kcal and 20g protein for upper primary students (Class 6 to 8).
What scholarships are available on the National Scholarship Portal?+
Over 50 scholarship schemes from central ministries covering pre-matric, post-matric, and merit-cum-means scholarships for SC, ST, OBC, EBC, minorities, and differently-abled students.
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