Education Loan? Know about Vidya Lakshmi Portal by the Govt
New Delhi: Everything you need to know about education loans in one portal- that is the motto of Vidya Lakshmi, the govt run website. It is a portal developed under the aegis of Government of India's three departments: Department of Financial Services, Department of Higher Education and Indian Banks Association (IBA).
A student can register himself/herself on the portal using his/ her details such as name, mobile number, email id, password and the captcha code. This will take him/ her to the next step, where he/she will have to fill up a Common Education Loan Application Form (CELAF). It is a single form that enables you to apply for educational loan to any of the 34 banks registered with Vidya Lakshmi.
Since this is the form prescribed by Indian Banks Association (IBA), it is accepted by all the banks. The banks that are registered with Bank of India, Canara Bank, Corporation Bank, IDBI Bank, ICICI Bank, Indian Bank, Indian Overseas Bank and Karur Vysya Bank, Vidya Lakshmi include Allahabad Bank, Bank of Baroda, and Dena Bank.
Once you send your CELAF to a particular bank, you can keep a tab on your application by sending your query/grievance directly to the respective bank via Vidya Lakshmi. Having sent the education loan application form here, the student can check the loan application status on the portal. A student is allowed to apply for a maximum of three banks via Vidya Lakshmi Portal.