SA_Scholarships & Loans

Well, do not worry! You can recover your password in three easy steps. However, for this, you must have your registered email id and then follow the below mentioned process:

• On the Vidya Lakshmi Portal student login page, click on "Forget Password".
• Mention your registered email id, and portal will send a system generated email to reset your password.
• Follow the instructions and change the password.

Here are some common eligibility crtieria for Vidya Lakshmi Portal registration, set by the banks are:

• Student should be an Indian citizen
• The applicant must have a certificate of 10+2 completion.
• Admission letter from a reputed educational institute is mandatory part of vidyalakshmi education loan eligibility.

Other than this, banks may ask for other eligibility (If required).

Students need to ensure that they are eligible to apply for education loans through the Vidya Laxmi portal. Then applicants need to create a new account and fill up the Common Education Loan Application Form (CELAF) with the required information. There candidates can select the education loan scheme according to their need.

It is really difficult to find a best education loan for abroad studies. There are several factors to select a best one such as interest rate, loan amount, repayment tenure, processing fees, collateral security and more. All you need to do is explore different options of education loans and compare to find that suits your objective.

The best education loan providers are those banks that offer enough to cover education expenses at competitive interest rates:

1. State Bank of India (SBI)
2. Credila Financial Services
3. Axis Bank
4. Avanse Education Loan
5. Punjab National Bank (PNB)
6. Bank of Baroda
7. ICICI Bank
8. Federal Bank
9. Union Bank of India
10. IDBI Bank

Apart from these, you can find some other loan providers. It is suggested to compare their loan schemes.

It totally depends on the loan amount and the loan sanction time. But I am a student, and I know that the educational lone does not sanction in the first semester. If you applied for a loan at the start of the first semester, then the responsible bank takes at least 4 months to sanction, so you should have to pay the seat reservation fees. At least you need 2lakhs in your hand before admission, I know the amount is not so small but if you want to go to that college then you should have that much amount in your hand.

The upper limit to extend concessional credit through various NHFDC schemes would be INR 50 Lacs per beneficiary/unit. The actual loan amount within the upper limit of INR 50 Lacs shall be determined by implementing agencies based on the needs of the activity/project being funded as well as repaying capacity of the borrower within the maximum repayment period. For details, students can check the table below: