PM-Vidya Lakshmi Yojana 2026: The PM-Vidyalakshmi portal (pmvidyalaxmi.co.in) is an integrated digital platform launched by the Government of India to help students obtain collateral-free education loans for higher education. This scheme provides loans of up to ₹7.5 lakh to students who secure merit-based admission to one of the top 902 higher education institutions and offers a 3% interest subsidy for students with a family income of up to ₹8 lakh.

Key features of the PM-Vidya Lakshmi Yojana 2026

• Unsecured Loans: Collateral-free loans for eligible students.
• Interest Subsidy: 3% interest subsidy for students with an annual family income of up to ₹8 lakh (if not availing benefits from any other scheme).
• Credit Guarantee: Credit guarantee of up to 75% provided by the Government of India.
• All Expenses Covered: Loans available for tuition fees, books, laptops, and other educational expenses, including hostel fees.
• Application Process: Apply by filling out the Common Application Form (CELAF) through the online portal.

PM-Vidya Lakshmi Yojana 2026 Benefits

• A special loan product of collateral-free and guarantor-free education loans for students admitted to QHEIs.

• The loan amount depends on the course fee and other associated expenses (mess, hostel fee, refundable and non-refundable fees, laptop, living expenses) with no upper limit.
• 75% credit guarantee by the Government of India for loan amounts up to ₹7,50,000, irrespective of family income.
• 3% interest subvention on loans up to ₹10,00,000 for students with annual family income up to ₹8,00,000 during the moratorium period (course period plus one year).
• Full interest subvention is already offered to students with up to ₹4,50,000 annual family income under PM-USP CSIS for technical/professional courses.
• Interest rate capped at individual bank’s Externally Benchmarked Lending Rate (EBLR) + 0.5%.
• Up to 1% additional interest concession if interest is serviced during the study period and the moratorium period.
• Repayment period up to 15 years, excluding moratorium period.
• The interest subvention amount will be credited to PM-VIDYALAXMI DIGITAL RUPEE APP (CBDC WALLET) of the beneficiary and on redemption on the app by the beneficiary, the amount will be transferred to the beneficiary loan account.

PM-Vidya Lakshmi Yojana 2026 Eligibility

• The applicant must be an Indian citizen.
• The applicant must get merit-based admission to one of the 860 designated Quality Higher Educational Institutions (QHEIs) in India.
• The applicant must not be admitted through the management quota or a similar quota.
• The applicant must have an annual family income of up to ₹8,00,000 to qualify for 3% interest subvention.
• The applicant must not be receiving any other Central/State Government Scholarship or interest subvention scheme or fee reimbursement.
• The applicant must not discontinue the course midstream or be expelled from the institution on disciplinary or academic grounds.
• The applicant must maintain satisfactory academic performance to receive interest subvention from the 2nd year onwards.
• The applicant can avail interest subvention and credit guarantee benefits only once, either for an undergraduate or postgraduate or integrated course.

• Top 100 ranked HEIs in the overall/category-specific and/or domainspecific rankings in latest list of NIRF published by the Ministry of Education.
• Top 200 ranked HEIs under the governance of state/UT governments in the latest list of NIRF published by the Ministry of Education.
• All remaining HEIs under the governance of the Government of India.

How to apply PM-Vidya Lakshmi Yojana 2026?

• Go to the official website of the Vidya Lakshmi Portal: pmvidyalaxmi.co.in.
• Register as a new user.
• Fill out the ‘Common Education Loan Application Form’ (CELAF).
• Along with the required documents, you can apply to multiple banks simultaneously.
• You can track the application status online at any time.

This portal operates under the guidance of the Department of Financial Services (Ministry of Finance), the Department of Higher Education (Ministry of Education), and the Indian Banks’ Association (IBA), to ensure that eligible students do not face financial barriers to their education.

PM-Vidya Lakshmi Yojana 2026 Documents Required

PM-Vidya Lakshmi Yojana 2026 Important Links

PM-Vidya Lakshmi Yojana 2026