Vidya Lakshmi Portal provides a single window for students to access information and make application for Educational Loans provided by Banks. Students can view, apply and track the education loan applications to banks anytime, anywhere by accessing the portal. The portal also provides linkages to National Scholarship Portal.
This portal has been developed under the guidance of Department of Financial Services (Ministry of Finance), Department of Higher Education (Ministry of Human Resource Development) and Indian Banks Association (IBA).
The Common Educational Loan Application Form is the single form which students can fill to apply for Educational Loan to multiple banks / schemes. CELAF is the application form prescribed by Indian Banks Association (IBA) and accepted by all banks. This form is provided on Vidya Lakshmi portal to apply for Educational loan.
A student can apply to a maximum of three Banks through Vidya Lakshmi portal using CELAF.
The Bank will update the status of the application on Vidya Lakshmi portal. Students can view the status of the application on the applicant's dashboard on the portal.
Approved Educational Loan of an applicant will be disbursed directly by the bank outside the Vidya Lakshmi Portal. To know more, contact the bank you have selected.
At present about 42 banks are registered with the platform. To know the list of banks, Vidya Lakshmi portal.
Source : Vidya Lakshmi portal