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Education Loan – Vidya Lakshmi Scheme

Education Loan – Vidya Lakshmi Scheme

The Government of India has brought various financing schemes for higher education, a significant one being the Vidya Lakshmi portal. Students can apply for education loan to multiple financial institutions with one application on this portal. Bajaj Finserv brings this facility for students to help finance their higher education in the form of Vidyalakshmi Education Loan scheme.

Under this scheme, students can apply for an Education Loan through a common application form CELAF. Track your application status online at this portal. Or, find the government scholarships through the National Scholarship Portal link it provides.

Register on the portal first to apply for this loan. Proceed with Vidyalakshmi login details, and fill up the common application form. Apply to a maximum of three financial institutions with that same application form depending on the eligibility and needs. On approval, loan disbursal happens directly from the concerned institution.

The Vidyalakshmi Education Loan interest rates offered by various institutions follow the guidelines issued by the RBI and IBA, concerning the standard lending rates. It may vary from one institution to another.

While the Vidyalakshmi Loan is a convenient financing option for higher education, it may not always suffice the cost of education. Seeking admission to overseas universities may be far costlier.

Bajaj Finserv, thus, alternatively brings Education Loan on Property with high loan value. Fund all the expenses related to your child’s education including admission fees, tuition fees, expenses for living, etc. Meet their travelling expenses by funding the flight tickets to another city or country with this loan.

Get money in bank in just 4 days* with a Loan Against Property.

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Features and Benefits of Education Loan on Property

Loan of Up To Rs. 3.5 Crore

Gift your child the best education with a high loan amount of up to Rs. 3.5 Crore from Bajaj Finserv. Salaried individuals can avail up to Rs. 1 Crore.
Flexible Tenure for Easy Repayment

A self-employed borrower can repay the loan in up to 18 years. For a salaried individual, it stretches between 2 and 20 years.
The Convenience of Balance Transfer Facility

You can also avail the benefit of an existing property loan to transfer using Loan Against Property Balance Transfer with Bajaj Finserv at attractive interest rates. Get a top-up loan of high value to finance additional expenses.
Hassle-Free Loan Approval

Get your Education Loan on Property approved within 48 hours of application.
Minimum Paperwork Required

Loan approval from Bajaj Finserv involves minimal documentation with doorstep document collection benefit.

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Eligibility and Documentation for Education Loan on Property

Know the easy-to-meet education loan eligibility criteria and documentation required to get approval of this secured loan from Bajaj Finserv. If opting for the Vidya Lakshmi Loan, you need to meet the eligibility requirements of the financial institution you are applying to.