To apply for an education loan for your 2nd to 4th-year fees through the Vidya Lakshmi portal, follow these steps: *Register on Vidya Lakshmi Porta *Complete the Common Education Loan Application Form (CELAF) with your details. *Choose multiple banks to apply to and upload necessary documents (admission letter, fee receipts, ID proof, academic records). *Review and submit the application. It's practical to apply for the total amount required for the 2nd to 4th years in one go to ensure comprehensive funding and avoid multiple application processes. Determine the total amount required for the 2nd to 4th years, including tuition, books, and other expenses and provide a breakdown of fees for the upcoming years. This ensures secure funding for your entire B.Tech program.
Yes, you can get an education loan from the Vidya Lakshmi portal for a B.Tech course in a private college. Here's how it works in simple terms: *Vidya Lakshmi Portal: It is a government website where you can apply for education loans from multiple banks. *Eligibility: Most banks listed on the portal offer loans for students attending private colleges. *Application Process: -Register on the Vidya Lakshmi portal. -Fill out the Common Education Loan Application Form (CELAF). -Submit your application to multiple banks through the portal. *Approval: The loan approval depends on the bank's criteria, which usually include your academic record, the college's reputation, and your family's financial situation. So, yes, you can apply and potentially get an education loan for a B.Tech in a private college through the Vidya Lakshmi portal.
Hii sir , can I get loan from csis scheme of jansamarth, this is the scheme only for ews students , and my college is saitm ,gurgaon affiliated by maharishi dayanand University ,Is this college is in the list of jansamarth csis scheme ???please tell me
Yes, the CSIS scheme of Jansamarth is dedicated to EWS students. SAITM, Gurgaon, which is affiliated with Maharishi Dayanand University, is listed in the Jansamarth CSIS scheme.
You can choose any bank for your education loan, not necessarily the one where you already have an account. However, it might be more convenient to use your existing bank. You can apply to multiple banks for a loan, but ultimately, you can only secure the loan from one bank. It's best to compare the offers and choose the one that suits your needs the most.
Thank you for your question! The Vidya Lakshmi education loan portal allows students to apply for loans before starting their studies or at any point during their academic journey. The requirement to mention your academic scores and other details helps lenders assess your eligibility and the amount you can borrow. You can apply for the loan as soon as you have your admission details and necessary documents ready
According to the guidelines provided by the Medical Council of India (MCI), Indian students pursuing MBBS in Nepal may be eligible for the Central Sector Interest Subsidy (CSIS) scheme, provided they meet certain criteria. The CSIS scheme offers interest subsidy on educational loans to students from economically weaker sections (EWS). Here are the eligibility criteria for the CSIS scheme: Nationality: The student must be an Indian citizen. Course: The scheme is applicable to recognized professional/technical courses, including MBBS. Institution: The MBBS course should be from an institution recognized by the relevant authority. If you are pursuing MBBS in a recognized medical institution in Nepal that is approved by MCI (now NMC), you may be eligible. Parental Income: The annual parental income should be less than ₹4.5 lakh. Loan Sanctioned: The loan must be sanctioned by an Indian bank under the IBA model education loan scheme. To ensure your eligibility: *Verify that your institution and course are recognized by the NMC/MCI. *Ensure that the education loan is taken from a bank in India. For more details and the application process, you should contact your lender bank or visit the official CSIS scheme portal. Make sure to have all your documents ready and ensure that you meet all the required criteria.
When you apply for an education loan through the Vidya Lakshmi portal: *Loan Disbursement Process: After your loan application is approved by a bank, they typically disburse the loan amount directly to the educational institution where you are studying.The disbursement is usually done in installments based on the fee schedule provided by the institution. *Payment Responsibility: The bank pays the loan amount to the college on your behalf; you do not need to pay it directly to the bank unless specified otherwise. You are responsible for ensuring that all necessary documents (like admission letter, fee receipts, etc.) are provided for smooth disbursement. *Monitoring and Repayment: The bank may monitor your academic progress and may disburse subsequent installments based on satisfactory performance and other conditions. Repayment of the loan begins after the moratorium period ends or as per the terms agreed upon with the bank. In summary, once your education loan is approved through the Vidya Lakshmi portal, the bank disburses the funds directly to your college. You do not pay the bank directly for tuition; instead, the bank handles the payment to the institution on your behalf.
Hii sir I applied 2banks in the vidhya lakshmi portal sir I want to change my loan application form in a vidhayalakshmi portal so I ask the bank they will rejected my application sir but in my application showed one bank is in process ask again they said already reject so what will I do sir please tell me sir
If you need to change your loan application form on the Vidya Lakshmi portal but are facing issues with the application status, here’s what you can do: Contact Vidya Lakshmi Support: Reach out to the Vidya Lakshmi portal support team. You can contact them via email at vidyalakshmi@nsdl.co.in or use the contact form available on the portal. Explain your situation in detail, including the application IDs and the banks you applied to. Check with the Bank: Visit or call the bank branch directly. Sometimes, the rejection might not be updated on the portal immediately. By discussing this directly with the bank officials, you might get quicker insights and possibly expedite the update process. Update or Resubmit Application: Once the rejection is confirmed and reflected on the Vidya Lakshmi portal, you should be able to edit or resubmit your application. If the portal doesn’t allow you to make changes, you might need to submit a new application altogether. Clear Cache and Cookies: Occasionally, the browser cache can cause outdated information to display. Clear your browser cache and cookies and then check the application status again. Monitor Portal Status: Regularly check the status on the Vidya Lakshmi portal. Once the status is updated to reflect the rejection, you should be able to proceed with making the necessary changes. If you still face issues, you may need to escalate the matter through the bank's grievance redressal mechanism or seek assistance from the educational institution's financial aid office.
Thankyou so much for this video sir. I have a question that after cap round for admission starts and after seat acceptance we have to pay the fees and hostel fees, how long does a bank sanction loan and disburse the amount to institute, do banks pay the institute within the deadline for tuition fees and hostel fees or we are required to pay upfront and then bank reimburses?
Great question! When it comes to the Vidya Lakshmi education loan, here's how it typically works: Loan Sanctioning Time: The time for loan sanctioning can vary depending on the bank and the completeness of your application. It generally takes a few weeks, so it's best to apply as early as possible. Fee Payment: Banks usually have processes in place to ensure that the tuition and hostel fees are paid directly to the institute within the required deadlines. However, this is contingent on timely submission and processing of all necessary documents. Upfront Payment: In some cases, if the loan processing takes longer than expected, you might have to pay the fees upfront. The bank can then reimburse you once the loan is sanctioned and disbursed. Communication with the Institute: It's important to inform your institute about your loan application status. They may offer some flexibility with deadlines if they are aware that a loan is being processed. Follow-Up: Keep in regular contact with your bank and ensure that all documents and requirements are fulfilled to avoid delays in disbursement. In summary, banks strive to disburse the amount to the institute within the deadline. However, it's wise to have a backup plan for upfront payment, just in case. Always stay in touch with both your bank and institute for smooth processing.
Imperial School of Agri Business (ISAB) is indeed listed under the National Capital Region (NCR) of India. Specifically, it is located in Greater Noida, which is part of the NCR. ISAB is recognized as a premier institution specializing in agribusiness management and is known for its 100% placement record for graduates. The college offers various programs focused on food and agribusiness management and is supported by numerous industry partnerships, enhancing its educational offerings and placement opportunities for students.
The Vidya Nidhi portal is another initiative aimed at providing education loans to students in India. Similar to the Vidya Lakshmi portal, it connects students with banks and financial institutions to facilitate the process of obtaining an education loan. Here’s how you can proceed with the Vidya Nidhi portal: 1. **Registration**: First, register on the Vidya Nidhi portal by providing your personal and academic details. 2. **Application**: Fill out the application form with details about the course you wish to pursue, the institution, and the loan amount required. 3. **Documentation**: Upload the necessary documents, such as proof of admission, academic records, identity proof, address proof, and income details of the co-borrower. 4. **Selection of Banks**: Choose the banks from which you want to apply for the loan. The portal allows you to apply to multiple banks simultaneously. 5. **Processing**: Once your application is submitted, the banks will review your application and contact you for any additional information or documentation if required. 6. **Approval**: The approval of the loan will depend on the criteria set by the individual banks, including academic performance, the course and institution, and the financial stability of the co-borrower. While academic performance is a factor in the approval process, having a strong co-borrower and fulfilling other criteria can enhance your chances of getting a loan. It’s advisable to reach out to the banks you are interested in through the portal to discuss your specific situation and get more detailed guidance.
When you apply for an education loan through the Vidya Lakshmi portal: *Loan Disbursement Process: After your loan application is approved by a bank, they typically disburse the loan amount directly to the educational institution where you are studying.The disbursement is usually done in installments based on the fee schedule provided by the institution. *Payment Responsibility: The bank pays the loan amount to the college on your behalf; you do not need to pay it directly to the bank unless specified otherwise. You are responsible for ensuring that all necessary documents (like admission letter, fee receipts, etc.) are provided for smooth disbursement. *Monitoring and Repayment: The bank may monitor your academic progress and may disburse subsequent installments based on satisfactory performance and other conditions. Repayment of the loan begins after the moratorium period ends or as per the terms agreed upon with the bank. In summary, once your education loan is approved through the Vidya Lakshmi portal, the bank disburses the funds directly to your college. You do not pay the bank directly for tuition; instead, the bank handles the payment to the institution on your behalf.
Sir my college is in list B of sbi scholar loan I have every document but my family income is low will that be any issue in approving my loan as I’m eligible for SBI scholar loan of 20 lakh collateral free loan
If your college is in List B of the SBI Scholar Loan scheme and you have all the required documents, your family's low income should not be an issue for loan approval. Make sure to discuss all your concerns with the bank representative to ensure a smooth application process. Kindly check your eligibility using the below link: sbi.co.in/web/student-platform/sbi-scholar-loan-scheme
In the context of Indian education loans, the repayment process typically begins after the completion of your education. Here’s a general overview of how the repayment process works: Moratorium Period (Study Period + Grace Period): Most education loans in India have a moratorium period, which includes your study period and a grace period afterward. During this time, you are not required to make any repayments. The study period typically includes the duration of your course plus an additional grace period after completing your studies, which could range from 6 months to 1 year depending on the lender. Start of Repayment: Repayment of the education loan usually begins after the moratorium period ends. This means you will start making monthly repayments once you secure employment or as per the agreed schedule with the lender. Some lenders may offer flexible repayment options, allowing you to start repaying earlier if you choose to do so. Interest Accrual During Moratorium: While you are not required to make repayments during the moratorium period, interest typically accrues on the loan amount from the disbursal date. Depending on the loan terms, you may have the option to pay interest during the moratorium period to reduce the overall loan burden. Repayment Schedule: The repayment schedule, including the amount and frequency of repayments, is determined at the time of loan disbursement and is based on factors such as the loan amount, interest rate, and tenure. You will receive a repayment schedule outlining the monthly installment amounts and due dates. Postponement or EMI Holiday: Some lenders may offer options for postponement of EMIs (Equated Monthly Installments) or an EMI holiday under certain circumstances, but this can vary among lenders. It’s important to carefully read and understand the terms and conditions of your education loan agreement, including the repayment schedule and any provisions related to interest rates and penalties for late payments. Planning your finances accordingly during and after your education can help ensure a smooth transition into the repayment phase of your education loan.
Yes, the Vidya Lakshmi loan covers expenses for fees, private hostels/flats, and private messes. However, for costs related to laptops, private messes, and private hostels, you will need to pay upfront and then submit the bills and receipts to the bank for reimbursement.
Hi! You can easily check the status of your education loan application submitted through the Vidya Lakshmi portal. Here’s how you can do it: Log in to Vidya Lakshmi Portal: Go to the Vidya Lakshmi website and log in with your credentials. Check Application Status: Once logged in, navigate to the 'Application Status' section. Here, you will be able to see the status of your loan application submitted to SBI. Contact SBI: If you need further assistance, you can contact the SBI branch where you applied or the education loan department. They can provide detailed updates on your application status. Follow Up: Ensure to follow up regularly and provide any additional documents or information requested by the bank.
Hi sir iappliDear sir, I am Lakshmi kattepogu i had applied for education loan from Vidya Lakshmi portal to SBI and Canara bank, due to some account descpeincy with father account, bank official asked me to Apply with new loan application from my Mother's account details for which my Previous Applicant should be in rejected status to then only my application editibility is possible, when I approach the Field officer he said the application has been rejected but in Vidya Lakshmi portal the status has not yet changed since it is showing still process instead of Rejected, i would request to please confirm me the same by mail confirmation saying that my application got rejected so that I can raise new loan application in Vidya Lakshmi portal Kindly revert with positive feedback, mail confirmation was asked by Vidya Lakshmi portal help desk.. this is my problem sir 😭 please tell me the solution sir
Dear Lakshmi, Thank you for reaching out and explaining your situation. To resolve this issue, please follow these steps: Contact Bank Official: Request the field officer or the bank official who handled your application to provide you with a written confirmation via email stating that your previous application has been rejected. This confirmation is essential for the Vidya Lakshmi portal to update your application status. Forward Confirmation to Vidya Lakshmi: Once you receive the email confirmation from the bank, forward it to the Vidya Lakshmi portal help desk. This will help them verify the rejection and update your application status to "rejected." Follow Up: After forwarding the confirmation, follow up with the Vidya Lakshmi help desk to ensure they have received the email and are processing the update. New Application: Once your previous application status is updated to "rejected," you can proceed with submitting a new loan application using your mother's account details on the Vidya Lakshmi portal.
A co-applicant is essential for an education loan because the financial lender relies on them if the primary applicant is unable to repay the loan due to unforeseen circumstances. It is a standard requirement for all banks to have a co-applicant for education loans. If you have more queries about getting an education without Co-applicant contact us through the link below, propelld.com/site/lp/study-loan-eligibility?
It's great that you're considering a subsidy for your education loan. The Vidya Lakshmi portal is actually designed to help students apply for both education loans and subsidies. You can still be eligible for subsidy schemes like the Central Sector Interest Subsidy Scheme (CSIS) even if you apply through the Vidya Lakshmi portal. Here’s what you should know: Check Subsidy Eligibility: Ensure you meet the criteria for subsidy schemes like CSIS, which generally include family income limits and admission to recognized institutions. Use Vidya Lakshmi Portal: Applying through the Vidya Lakshmi portal does not disqualify you from getting subsidies. In fact, the portal helps in coordinating with banks for such schemes. Mention Subsidy Requirement: While filling out the application, clearly mention your need for a subsidy. The banks will take this into consideration and guide you accordingly. Consult Bank Representatives: After applying, follow up with the bank to ensure they process your subsidy request.
Sir I want to do Bsc in Cyber Security. Will I get living expenses like PG expenses and I need to do some certifications like CCNA, OSCP. Can I get these too? Please reply sir. I am in crying need😢😢
The Vidya Lakshmi education loan scheme can be a great option for students pursuing higher education, including a BSc in Cyber Security. This scheme is designed to help students manage the financial burden of education. Here’s how it can assist you: Living Expenses: The education loan typically covers not only the tuition fees but also other expenses related to your education. This includes accommodation, such as PG (Paying Guest) expenses, food, travel, and other living costs. Ensure you check with the specific bank for the detailed coverage and limits. Certifications: Certifications like CCNA and OSCP, which are essential for a career in Cyber Security, can also be covered under the education loan. These certifications are often seen as part of the course-related expenses, so make sure to include them in your loan application.
Absolutely, you may be able to get a loan for your BSc Nursing studies through the Vidya Lakshmi portal, even if you plan to attend a private institution. The Vidya Lakshmi portal is a one-stop platform for students seeking education loans. However, it's essential to check the specific loan requirements and eligibility criteria from different banks listed on the portal. They typically evaluate factors like your academic records, the credibility of the institution, and sometimes your family's financial background. It's best to research and apply through the Vidya Lakshmi portal to understand the terms and conditions from various lenders. Good luck!
Hi sir, I wanna take loan for my higher studies in abroad. So which bank is better, could you please help me by providing this information and I would be highly obliged to you
When planning to take a loan for higher studies abroad, several Indian banks offer competitive education loans with varying terms and conditions. Here are some of the top Indian banks that provide education loans for studying abroad: State Bank of India (SBI) SBI Global Ed-Vantage Scheme: Specifically designed for students pursuing studies abroad. Offers loans up to INR 1.5 crore. Interest Rate: Competitive rates with concessions for female students. Repayment: Up to 15 years. Collateral: Required for loans above a certain amount. HDFC Bank HDFC Credila Education Loan: Customizable loan products for studies abroad. Interest Rate: Varies, often floating. Repayment: Flexible repayment options. Collateral: Depending on the loan amount. Punjab National Bank (PNB) PNB Udaan: Education loan scheme for studying abroad. Interest Rate: Competitive rates. Repayment: Up to 15 years. Collateral: Required for higher amounts. Bank of Baroda Baroda Scholar: Education loan for students aiming for international education. Interest Rate: Preferential rates for reputed institutions. Repayment: Up to 15 years. Collateral: Required for certain amounts. Axis Bank Axis Bank Education Loan: Covers a wide range of expenses for studying abroad. Interest Rate: Competitive. Repayment: Flexible tenure. Collateral: Required based on the loan amount. ICICI Bank ICICI Bank Education Loan: Suitable for students pursuing higher education abroad. Interest Rate: Competitive with flexible options. Repayment: Up to 10 years. Collateral: Required based on the amount. Factors to Consider When Choosing a Bank: Interest Rates: Compare interest rates and see if there are any concessions for female students or specific courses. Loan Amount: Ensure the bank provides sufficient coverage for tuition fees, living expenses, travel, and other costs. Repayment Terms: Look for flexible repayment options and tenure that align with your expected income after graduation. Processing Fees: Check if the bank charges any processing fees and other hidden costs. Customer Service: Choose a bank with good customer service and support for overseas education loans. Conclusion: Each bank has its own set of benefits and terms. State Bank of India (SBI) is often recommended due to its extensive network and specific schemes for international education. However, it's essential to compare the offerings of different banks based on your specific needs and preferences.
Hi! Applying for an education loan for studying in Canada is a great step. Through the Vidya Lakshmi portal, you can apply for a loan that covers both your tuition fee and GIC. Here’s how you can proceed: Register on Vidya Lakshmi Portal: Visit the Vidya Lakshmi website and register yourself(www.vidyalakshmi.co.in/Students/signup). Fill the Common Education Loan Application Form (CELAF): Complete the form with all necessary details, including your requirement for Rs. 14 lakhs for tuition fees and Rs. 13 lakhs for the GIC. Submit to Multiple Banks: The portal allows you to apply to multiple banks like SBI, HDFC, ICICI, etc. at once. Check Eligibility: Ensure you meet the eligibility criteria for the banks you are applying to, which often include a good academic record, admission to a recognized Canadian institution, and a strong financial co-applicant. Prepare Documents: Gather necessary documents such as your admission letter, fee structure, co-applicant’s income proof, and details about the GIC. Track Application Status: After submitting, you can log in to the portal to track the status of your application and follow up with the respective banks if needed.
Yes. You can. However more details will be required to understand your loan eligibility like: 1. Academic Background: Admission to recognized institutions boosts eligibility. 2. Course Selection: Accredited courses often have better approval rates. 3. Loan Purpose: Loan should be for tuition, fees, books, and related expenses. 4. Repayment Ability: Co-applicant's income stability or collateral can assure repayment. 5. Credit History: A good credit score enhances approval chances. 6. Loan Amount: Meeting lender's criteria for loan-to-income ratio. 7. Age: Typically, applicants should be within certain age brackets. 8. Documentation: Submission of academic records, admission letter, and other required documents.
Yes, you can apply for an education loan through the Vidya Lakshmi portal even if you have 49% marks. However, the approval of your loan application depends on several factors, including the specific requirements and criteria set by the participating banks. Here are a few things to consider: Eligibility Criteria: Different banks have different eligibility criteria for education loans. While academic performance is one factor, banks also consider other aspects such as the course you are planning to pursue, the institution, your co-borrower's financial stability, and your overall repayment capacity. Co-Borrower: Having a strong co-borrower (usually a parent or guardian with a stable income) can significantly improve your chances of getting a loan. Collateral: For higher loan amounts, banks often require collateral. Providing collateral can also improve your chances of loan approval. Repayment Capacity: Banks assess the repayment capacity of the applicant and the co-borrower. A stable source of income for the co-borrower can be a positive factor. Loan Amount and Course: The loan amount and the course you are planning to pursue can also affect the approval process. Loans for professional and job-oriented courses are generally considered less risky by banks. I recommend checking the specific requirements of the banks you are interested in through the Vidya Lakshmi portal. Additionally, you might want to reach out to the banks directly to discuss your situation and get personalized advice.
Hi! Education loans typically have a moratorium period, during which you do not have to repay the loan. However, interest may still accrue during this period. Here are the general details: Moratorium Period: This is usually the course duration plus 6 months to 1 year after course completion. Interest Accrual: Interest generally starts accruing from the date of loan disbursement. However, repayment of this interest may not be required during the moratorium period. Interest Payment Options: Simple Interest: You may choose to pay only the interest during the moratorium period. Compound Interest: If you do not pay the interest during the moratorium, it may be added to the principal amount, leading to compound interest. Repayment Period: After the moratorium, you start repaying both the principal and interest. For exact details, refer to your loan agreement or consult your bank.
The Vidya Nidhi portal is another initiative aimed at providing education loans to students in India. Similar to the Vidya Lakshmi portal, it connects students with banks and financial institutions to facilitate the process of obtaining an education loan. Here’s how you can proceed with the Vidya Nidhi portal: 1. **Registration**: First, register on the Vidya Nidhi portal by providing your personal and academic details. 2. **Application**: Fill out the application form with details about the course you wish to pursue, the institution, and the loan amount required. 3. **Documentation**: Upload the necessary documents, such as proof of admission, academic records, identity proof, address proof, and income details of the co-borrower. 4. **Selection of Banks**: Choose the banks from which you want to apply for the loan. The portal allows you to apply to multiple banks simultaneously. 5. **Processing**: Once your application is submitted, the banks will review your application and contact you for any additional information or documentation if required. 6. **Approval**: The approval of the loan will depend on the criteria set by the individual banks, including academic performance, the course and institution, and the financial stability of the co-borrower. While academic performance is a factor in the approval process, having a strong co-borrower and fulfilling other criteria can enhance your chances of getting a loan. It’s advisable to reach out to the banks you are interested in through the portal to discuss your specific situation and get more detailed guidance.
🔗To Check Your Complete Education Loan Eligibility Use The Link Below:
propelld.com/site/lp/study-loan-eligibility?
This video is going to be a clear eye-opener for students🎓
Sir i have paid 1st year fees of my btech , wanting loan from 2 nd year to 4 th , so what should i do while filling form
To apply for an education loan for your 2nd to 4th-year fees through the Vidya Lakshmi portal, follow these steps:
*Register on Vidya Lakshmi Porta
*Complete the Common Education Loan Application Form (CELAF) with your details.
*Choose multiple banks to apply to and upload necessary documents (admission letter, fee receipts, ID proof, academic records).
*Review and submit the application.
It's practical to apply for the total amount required for the 2nd to 4th years in one go to ensure comprehensive funding and avoid multiple application processes. Determine the total amount required for the 2nd to 4th years, including tuition, books, and other expenses and provide a breakdown of fees for the upcoming years. This ensures secure funding for your entire B.Tech program.
Sir main btech private se karne ja rha hu to mujhe ye loan milega ya nhi please reply sir
Yes, you can get an education loan from the Vidya Lakshmi portal for a B.Tech course in a private college. Here's how it works in simple terms:
*Vidya Lakshmi Portal: It is a government website where you can apply for education loans from multiple banks.
*Eligibility: Most banks listed on the portal offer loans for students attending private colleges.
*Application Process:
-Register on the Vidya Lakshmi portal.
-Fill out the Common Education Loan Application Form (CELAF).
-Submit your application to multiple banks through the portal.
*Approval: The loan approval depends on the bank's criteria, which usually include your academic record, the college's reputation, and your family's financial situation.
So, yes, you can apply and potentially get an education loan for a B.Tech in a private college through the Vidya Lakshmi portal.
Hii sir , can I get loan from csis scheme of jansamarth, this is the scheme only for ews students , and my college is saitm ,gurgaon affiliated by maharishi dayanand University ,Is this college is in the list of jansamarth csis scheme ???please tell me
Yes, the CSIS scheme of Jansamarth is dedicated to EWS students. SAITM, Gurgaon, which is affiliated with Maharishi Dayanand University, is listed in the Jansamarth CSIS scheme.
Hello sir !! Kya jisme mera account hai ussi bank ko choose kare ya koi bhi ?? Aur kya ek hi bank choose kar skate hai ya 2-3 tak loan k liye
U can apply upto 3 banks, and u dont necessarily need an account in the bank to apply for ed loan, it can be opened later for repayment
You can choose any bank for your education loan, not necessarily the one where you already have an account. However, it might be more convenient to use your existing bank. You can apply to multiple banks for a loan, but ultimately, you can only secure the loan from one bank. It's best to compare the offers and choose the one that suits your needs the most.
Sir one doubt
Is this loan only applicable after studying for one year cause you stated as we should mention our academic score and others etc
Thank you for your question! The Vidya Lakshmi education loan portal allows students to apply for loans before starting their studies or at any point during their academic journey. The requirement to mention your academic scores and other details helps lenders assess your eligibility and the amount you can borrow. You can apply for the loan as soon as you have your admission details and necessary documents ready
sir me nepal se mbbs karne ja raha kya me CSIS scheme ke liye eligble hu ?
According to the guidelines provided by the Medical Council of India (MCI), Indian students pursuing MBBS in Nepal may be eligible for the Central Sector Interest Subsidy (CSIS) scheme, provided they meet certain criteria. The CSIS scheme offers interest subsidy on educational loans to students from economically weaker sections (EWS).
Here are the eligibility criteria for the CSIS scheme:
Nationality: The student must be an Indian citizen.
Course: The scheme is applicable to recognized professional/technical courses, including MBBS.
Institution: The MBBS course should be from an institution recognized by the relevant authority. If you are pursuing MBBS in a recognized medical institution in Nepal that is approved by MCI (now NMC), you may be eligible.
Parental Income: The annual parental income should be less than ₹4.5 lakh.
Loan Sanctioned: The loan must be sanctioned by an Indian bank under the IBA model education loan scheme.
To ensure your eligibility:
*Verify that your institution and course are recognized by the NMC/MCI.
*Ensure that the education loan is taken from a bank in India.
For more details and the application process, you should contact your lender bank or visit the official CSIS scheme portal. Make sure to have all your documents ready and ensure that you meet all the required criteria.
Sir kya ye loan first year ka v khud se pay kr denge ya hme hi krna hoga?
Please leave a reply sir please
When you apply for an education loan through the Vidya Lakshmi portal:
*Loan Disbursement Process:
After your loan application is approved by a bank, they typically disburse the loan amount directly to the educational institution where you are studying.The disbursement is usually done in installments based on the fee schedule provided by the institution.
*Payment Responsibility:
The bank pays the loan amount to the college on your behalf; you do not need to pay it directly to the bank unless specified otherwise. You are responsible for ensuring that all necessary documents (like admission letter, fee receipts, etc.) are provided for smooth disbursement.
*Monitoring and Repayment:
The bank may monitor your academic progress and may disburse subsequent installments based on satisfactory performance and other conditions. Repayment of the loan begins after the moratorium period ends or as per the terms agreed upon with the bank.
In summary, once your education loan is approved through the Vidya Lakshmi portal, the bank disburses the funds directly to your college. You do not pay the bank directly for tuition; instead, the bank handles the payment to the institution on your behalf.
Hii sir I applied 2banks in the vidhya lakshmi portal sir I want to change my loan application form in a vidhayalakshmi portal so I ask the bank they will rejected my application sir but in my application showed one bank is in process ask again they said already reject so what will I do sir please tell me sir
If you need to change your loan application form on the Vidya Lakshmi portal but are facing issues with the application status, here’s what you can do:
Contact Vidya Lakshmi Support:
Reach out to the Vidya Lakshmi portal support team. You can contact them via email at vidyalakshmi@nsdl.co.in or use the contact form available on the portal. Explain your situation in detail, including the application IDs and the banks you applied to.
Check with the Bank:
Visit or call the bank branch directly. Sometimes, the rejection might not be updated on the portal immediately. By discussing this directly with the bank officials, you might get quicker insights and possibly expedite the update process.
Update or Resubmit Application:
Once the rejection is confirmed and reflected on the Vidya Lakshmi portal, you should be able to edit or resubmit your application. If the portal doesn’t allow you to make changes, you might need to submit a new application altogether.
Clear Cache and Cookies:
Occasionally, the browser cache can cause outdated information to display. Clear your browser cache and cookies and then check the application status again.
Monitor Portal Status:
Regularly check the status on the Vidya Lakshmi portal. Once the status is updated to reflect the rejection, you should be able to proceed with making the necessary changes.
If you still face issues, you may need to escalate the matter through the bank's grievance redressal mechanism or seek assistance from the educational institution's financial aid office.
Thankyou so much for this video sir. I have a question that after cap round for admission starts and after seat acceptance we have to pay the fees and hostel fees, how long does a bank sanction loan and disburse the amount to institute, do banks pay the institute within the deadline for tuition fees and hostel fees or we are required to pay upfront and then bank reimburses?
Great question! When it comes to the Vidya Lakshmi education loan, here's how it typically works:
Loan Sanctioning Time: The time for loan sanctioning can vary depending on the bank and the completeness of your application. It generally takes a few weeks, so it's best to apply as early as possible.
Fee Payment: Banks usually have processes in place to ensure that the tuition and hostel fees are paid directly to the institute within the required deadlines. However, this is contingent on timely submission and processing of all necessary documents.
Upfront Payment: In some cases, if the loan processing takes longer than expected, you might have to pay the fees upfront. The bank can then reimburse you once the loan is sanctioned and disbursed.
Communication with the Institute: It's important to inform your institute about your loan application status. They may offer some flexibility with deadlines if they are aware that a loan is being processed.
Follow-Up: Keep in regular contact with your bank and ensure that all documents and requirements are fulfilled to avoid delays in disbursement.
In summary, banks strive to disburse the amount to the institute within the deadline. However, it's wise to have a backup plan for upfront payment, just in case. Always stay in touch with both your bank and institute for smooth processing.
Sir my college id imprecal school of agri business..ISAB ...in greater Noida...and i come under ews...is this cllg listed?
Imperial School of Agri Business (ISAB) is indeed listed under the National Capital Region (NCR) of India. Specifically, it is located in Greater Noida, which is part of the NCR. ISAB is recognized as a premier institution specializing in agribusiness management and is known for its 100% placement record for graduates.
The college offers various programs focused on food and agribusiness management and is supported by numerous industry partnerships, enhancing its educational offerings and placement opportunities for students.
Hello sir i heard about Vidya nidhi portal can we get education loan from there
The Vidya Nidhi portal is another initiative aimed at providing education loans to students in India. Similar to the Vidya Lakshmi portal, it connects students with banks and financial institutions to facilitate the process of obtaining an education loan.
Here’s how you can proceed with the Vidya Nidhi portal:
1. **Registration**: First, register on the Vidya Nidhi portal by providing your personal and academic details.
2. **Application**: Fill out the application form with details about the course you wish to pursue, the institution, and the loan amount required.
3. **Documentation**: Upload the necessary documents, such as proof of admission, academic records, identity proof, address proof, and income details of the co-borrower.
4. **Selection of Banks**: Choose the banks from which you want to apply for the loan. The portal allows you to apply to multiple banks simultaneously.
5. **Processing**: Once your application is submitted, the banks will review your application and contact you for any additional information or documentation if required.
6. **Approval**: The approval of the loan will depend on the criteria set by the individual banks, including academic performance, the course and institution, and the financial stability of the co-borrower.
While academic performance is a factor in the approval process, having a strong co-borrower and fulfilling other criteria can enhance your chances of getting a loan. It’s advisable to reach out to the banks you are interested in through the portal to discuss your specific situation and get more detailed guidance.
Sir kya ye loan first year ka v pay krdenge ya hme hi krna hoga?
When you apply for an education loan through the Vidya Lakshmi portal:
*Loan Disbursement Process:
After your loan application is approved by a bank, they typically disburse the loan amount directly to the educational institution where you are studying.The disbursement is usually done in installments based on the fee schedule provided by the institution.
*Payment Responsibility:
The bank pays the loan amount to the college on your behalf; you do not need to pay it directly to the bank unless specified otherwise. You are responsible for ensuring that all necessary documents (like admission letter, fee receipts, etc.) are provided for smooth disbursement.
*Monitoring and Repayment:
The bank may monitor your academic progress and may disburse subsequent installments based on satisfactory performance and other conditions.
Repayment of the loan begins after the moratorium period ends or as per the terms agreed upon with the bank.
In summary, once your education loan is approved through the Vidya Lakshmi portal, the bank disburses the funds directly to your college. You do not pay the bank directly for tuition; instead, the bank handles the payment to the institution on your behalf.
Sir my college is in list B of sbi scholar loan I have every document but my family income is low will that be any issue in approving my loan as I’m eligible for SBI scholar loan of 20 lakh collateral free loan
If your college is in List B of the SBI Scholar Loan scheme and you have all the required documents, your family's low income should not be an issue for loan approval. Make sure to discuss all your concerns with the bank representative to ensure a smooth application process.
Kindly check your eligibility using the below link:
sbi.co.in/web/student-platform/sbi-scholar-loan-scheme
How soon does the repayment process begin? After I finish my education or while studying?
Repayment starts After 1 year of program completion or 6 months of getting a job after post graduation whichever is earlier
In the context of Indian education loans, the repayment process typically begins after the completion of your education. Here’s a general overview of how the repayment process works:
Moratorium Period (Study Period + Grace Period):
Most education loans in India have a moratorium period, which includes your study period and a grace period afterward. During this time, you are not required to make any repayments.
The study period typically includes the duration of your course plus an additional grace period after completing your studies, which could range from 6 months to 1 year depending on the lender.
Start of Repayment:
Repayment of the education loan usually begins after the moratorium period ends. This means you will start making monthly repayments once you secure employment or as per the agreed schedule with the lender.
Some lenders may offer flexible repayment options, allowing you to start repaying earlier if you choose to do so.
Interest Accrual During Moratorium:
While you are not required to make repayments during the moratorium period, interest typically accrues on the loan amount from the disbursal date.
Depending on the loan terms, you may have the option to pay interest during the moratorium period to reduce the overall loan burden.
Repayment Schedule:
The repayment schedule, including the amount and frequency of repayments, is determined at the time of loan disbursement and is based on factors such as the loan amount, interest rate, and tenure.
You will receive a repayment schedule outlining the monthly installment amounts and due dates.
Postponement or EMI Holiday:
Some lenders may offer options for postponement of EMIs (Equated Monthly Installments) or an EMI holiday under certain circumstances, but this can vary among lenders.
It’s important to carefully read and understand the terms and conditions of your education loan agreement, including the repayment schedule and any provisions related to interest rates and penalties for late payments. Planning your finances accordingly during and after your education can help ensure a smooth transition into the repayment phase of your education loan.
Sir can I get education loan for fees + private hostel/flat and private mess ?
Yes, the Vidya Lakshmi loan covers expenses for fees, private hostels/flats, and private messes. However, for costs related to laptops, private messes, and private hostels, you will need to pay upfront and then submit the bills and receipts to the bank for reimbursement.
Why no one is talking about if annual income is more than 4.5 you're not Eligible
Sorry to hear this. Can you specify where you faced this rejection because of annual income above 4.5L?
4.5 lakh income criteria is for csis scheme and not fot getting education loan, if you need an ed loan why should there be any income limit 🤦♂
Hii sir i applied for Education loan through vidyalakshmi portal in sbi Now how to check the status of my education loan
Hi! You can easily check the status of your education loan application submitted through the Vidya Lakshmi portal. Here’s how you can do it:
Log in to Vidya Lakshmi Portal: Go to the Vidya Lakshmi website and log in with your credentials.
Check Application Status: Once logged in, navigate to the 'Application Status' section. Here, you will be able to see the status of your loan application submitted to SBI.
Contact SBI: If you need further assistance, you can contact the SBI branch where you applied or the education loan department. They can provide detailed updates on your application status.
Follow Up: Ensure to follow up regularly and provide any additional documents or information requested by the bank.
Hi sir iappliDear sir,
I am Lakshmi kattepogu i had applied for education loan from Vidya Lakshmi portal to SBI and Canara bank, due to some account descpeincy with father account, bank official asked me to Apply with new loan application from my Mother's account details for which my Previous Applicant should be in rejected status to then only my application editibility is possible, when I approach the Field officer he said the application has been rejected but in Vidya Lakshmi portal the status has not yet changed since it is showing still process instead of Rejected, i would request to please confirm me the same by mail confirmation saying that my application got rejected so that I can raise new loan application in Vidya Lakshmi portal
Kindly revert with positive feedback, mail confirmation was asked by Vidya Lakshmi portal help desk.. this is my problem sir 😭 please tell me the solution sir
Dear Lakshmi,
Thank you for reaching out and explaining your situation.
To resolve this issue, please follow these steps:
Contact Bank Official: Request the field officer or the bank official who handled your application to provide you with a written confirmation via email stating that your previous application has been rejected. This confirmation is essential for the Vidya Lakshmi portal to update your application status.
Forward Confirmation to Vidya Lakshmi: Once you receive the email confirmation from the bank, forward it to the Vidya Lakshmi portal help desk. This will help them verify the rejection and update your application status to "rejected."
Follow Up: After forwarding the confirmation, follow up with the Vidya Lakshmi help desk to ensure they have received the email and are processing the update.
New Application: Once your previous application status is updated to "rejected," you can proceed with submitting a new loan application using your mother's account details on the Vidya Lakshmi portal.
Coplident nhi ha to kya kra
A co-applicant is essential for an education loan because the financial lender relies on them if the primary applicant is unable to repay the loan due to unforeseen circumstances. It is a standard requirement for all banks to have a co-applicant for education loans.
If you have more queries about getting an education without Co-applicant contact us through the link below,
propelld.com/site/lp/study-loan-eligibility?
Sir I wanted and am eligible for subsidy edu loan
But i heard if i apply on vidya lakshmi portal I won't get subsidy
Is this true?!
It's great that you're considering a subsidy for your education loan. The Vidya Lakshmi portal is actually designed to help students apply for both education loans and subsidies. You can still be eligible for subsidy schemes like the Central Sector Interest Subsidy Scheme (CSIS) even if you apply through the Vidya Lakshmi portal. Here’s what you should know:
Check Subsidy Eligibility: Ensure you meet the criteria for subsidy schemes like CSIS, which generally include family income limits and admission to recognized institutions.
Use Vidya Lakshmi Portal: Applying through the Vidya Lakshmi portal does not disqualify you from getting subsidies. In fact, the portal helps in coordinating with banks for such schemes.
Mention Subsidy Requirement: While filling out the application, clearly mention your need for a subsidy. The banks will take this into consideration and guide you accordingly.
Consult Bank Representatives: After applying, follow up with the bank to ensure they process your subsidy request.
Sir I want to do Bsc in Cyber Security. Will I get living expenses like PG expenses and I need to do some certifications like CCNA, OSCP. Can I get these too? Please reply sir. I am in crying need😢😢
The Vidya Lakshmi education loan scheme can be a great option for students pursuing higher education, including a BSc in Cyber Security. This scheme is designed to help students manage the financial burden of education. Here’s how it can assist you:
Living Expenses:
The education loan typically covers not only the tuition fees but also other expenses related to your education. This includes accommodation, such as PG (Paying Guest) expenses, food, travel, and other living costs. Ensure you check with the specific bank for the detailed coverage and limits.
Certifications:
Certifications like CCNA and OSCP, which are essential for a career in Cyber Security, can also be covered under the education loan. These certifications are often seen as part of the course-related expenses, so make sure to include them in your loan application.
@@propelld But sir PNB completely denied to approve my living expenses let alone other certification costs!!!!!!!!!!!
What should I do sir?
Sir aapki website propelld maine apply kar diya magar abhi tak koi reply nahi aaya sir do bar kar chuka hu 15 days ke between but response nahi mila
Please feel free to contact us on support@propelld.com / 7375911702 for any queries. Our team will check and assist you further.
Sir mai bsc nursing private krna chahti hu kya loan mil skta h or kaise
Absolutely, you may be able to get a loan for your BSc Nursing studies through the Vidya Lakshmi portal, even if you plan to attend a private institution. The Vidya Lakshmi portal is a one-stop platform for students seeking education loans. However, it's essential to check the specific loan requirements and eligibility criteria from different banks listed on the portal. They typically evaluate factors like your academic records, the credibility of the institution, and sometimes your family's financial background. It's best to research and apply through the Vidya Lakshmi portal to understand the terms and conditions from various lenders. Good luck!
hii
Hi sir,
I wanna take loan for my higher studies in abroad.
So which bank is better, could you please help me by providing this information and I would be highly obliged to you
When planning to take a loan for higher studies abroad, several Indian banks offer competitive education loans with varying terms and conditions. Here are some of the top Indian banks that provide education loans for studying abroad:
State Bank of India (SBI)
SBI Global Ed-Vantage Scheme: Specifically designed for students pursuing studies abroad. Offers loans up to INR 1.5 crore.
Interest Rate: Competitive rates with concessions for female students.
Repayment: Up to 15 years.
Collateral: Required for loans above a certain amount.
HDFC Bank
HDFC Credila Education Loan: Customizable loan products for studies abroad.
Interest Rate: Varies, often floating.
Repayment: Flexible repayment options.
Collateral: Depending on the loan amount.
Punjab National Bank (PNB)
PNB Udaan: Education loan scheme for studying abroad.
Interest Rate: Competitive rates.
Repayment: Up to 15 years.
Collateral: Required for higher amounts.
Bank of Baroda
Baroda Scholar: Education loan for students aiming for international education.
Interest Rate: Preferential rates for reputed institutions.
Repayment: Up to 15 years.
Collateral: Required for certain amounts.
Axis Bank
Axis Bank Education Loan: Covers a wide range of expenses for studying abroad.
Interest Rate: Competitive.
Repayment: Flexible tenure.
Collateral: Required based on the loan amount.
ICICI Bank
ICICI Bank Education Loan: Suitable for students pursuing higher education abroad.
Interest Rate: Competitive with flexible options.
Repayment: Up to 10 years.
Collateral: Required based on the amount.
Factors to Consider When Choosing a Bank:
Interest Rates: Compare interest rates and see if there are any concessions for female students or specific courses.
Loan Amount: Ensure the bank provides sufficient coverage for tuition fees, living expenses, travel, and other costs.
Repayment Terms: Look for flexible repayment options and tenure that align with your expected income after graduation.
Processing Fees: Check if the bank charges any processing fees and other hidden costs.
Customer Service: Choose a bank with good customer service and support for overseas education loans.
Conclusion:
Each bank has its own set of benefits and terms. State Bank of India (SBI) is often recommended due to its extensive network and specific schemes for international education. However, it's essential to compare the offerings of different banks based on your specific needs and preferences.
@@propelld Thank you so much for your indpeth information sir🙏🏻
I need loan for Canada for my future study 14 lakh tution fee, 13 lakh GIC can i get loan?
Hi! Applying for an education loan for studying in Canada is a great step. Through the Vidya Lakshmi portal, you can apply for a loan that covers both your tuition fee and GIC. Here’s how you can proceed:
Register on Vidya Lakshmi Portal: Visit the Vidya Lakshmi website and register yourself(www.vidyalakshmi.co.in/Students/signup).
Fill the Common Education Loan Application Form (CELAF): Complete the form with all necessary details, including your requirement for Rs. 14 lakhs for tuition fees and Rs. 13 lakhs for the GIC.
Submit to Multiple Banks: The portal allows you to apply to multiple banks like SBI, HDFC, ICICI, etc. at once.
Check Eligibility: Ensure you meet the eligibility criteria for the banks you are applying to, which often include a good academic record, admission to a recognized Canadian institution, and a strong financial co-applicant.
Prepare Documents: Gather necessary documents such as your admission letter, fee structure, co-applicant’s income proof, and details about the GIC.
Track Application Status: After submitting, you can log in to the portal to track the status of your application and follow up with the respective banks if needed.
Sir I need your help
We would be happy to help you, Kindly share you information through the Link below:
propelld.com/site/lp/study-loan-eligibility?
@@propelld sir can I got a loan for private mbbs in India with 250 marks in neet and I provide collateral as a I think u understand
Yes. You can. However more details will be required to understand your loan eligibility like:
1. Academic Background: Admission to recognized institutions boosts eligibility.
2. Course Selection: Accredited courses often have better approval rates.
3. Loan Purpose: Loan should be for tuition, fees, books, and related expenses.
4. Repayment Ability: Co-applicant's income stability or collateral can assure repayment.
5. Credit History: A good credit score enhances approval chances.
6. Loan Amount: Meeting lender's criteria for loan-to-income ratio.
7. Age: Typically, applicants should be within certain age brackets.
8. Documentation: Submission of academic records, admission letter, and other required documents.
Not applicable for bachelor course
Sorry, not sure what is not applicable for bachelor course. Can you explain?
@@propelld interest amount will be?how much% interest we have pay them ?
Sir i hv got only 49% in 12th will i get loan. M
Yes, you can apply for an education loan through the Vidya Lakshmi portal even if you have 49% marks. However, the approval of your loan application depends on several factors, including the specific requirements and criteria set by the participating banks.
Here are a few things to consider:
Eligibility Criteria: Different banks have different eligibility criteria for education loans. While academic performance is one factor, banks also consider other aspects such as the course you are planning to pursue, the institution, your co-borrower's financial stability, and your overall repayment capacity.
Co-Borrower: Having a strong co-borrower (usually a parent or guardian with a stable income) can significantly improve your chances of getting a loan.
Collateral: For higher loan amounts, banks often require collateral. Providing collateral can also improve your chances of loan approval.
Repayment Capacity: Banks assess the repayment capacity of the applicant and the co-borrower. A stable source of income for the co-borrower can be a positive factor.
Loan Amount and Course: The loan amount and the course you are planning to pursue can also affect the approval process. Loans for professional and job-oriented courses are generally considered less risky by banks.
I recommend checking the specific requirements of the banks you are interested in through the Vidya Lakshmi portal. Additionally, you might want to reach out to the banks directly to discuss your situation and get personalized advice.
Sir loan lene ke baad interest lagna kbse start hota h?
Hi! Education loans typically have a moratorium period, during which you do not have to repay the loan. However, interest may still accrue during this period. Here are the general details:
Moratorium Period: This is usually the course duration plus 6 months to 1 year after course completion.
Interest Accrual: Interest generally starts accruing from the date of loan disbursement. However, repayment of this interest may not be required during the moratorium period.
Interest Payment Options:
Simple Interest: You may choose to pay only the interest during the moratorium period.
Compound Interest: If you do not pay the interest during the moratorium, it may be added to the principal amount, leading to compound interest.
Repayment Period: After the moratorium, you start repaying both the principal and interest.
For exact details, refer to your loan agreement or consult your bank.
Hello sir i heard about Vidya nidhi portal can we get education loan from there
The Vidya Nidhi portal is another initiative aimed at providing education loans to students in India. Similar to the Vidya Lakshmi portal, it connects students with banks and financial institutions to facilitate the process of obtaining an education loan.
Here’s how you can proceed with the Vidya Nidhi portal:
1. **Registration**: First, register on the Vidya Nidhi portal by providing your personal and academic details.
2. **Application**: Fill out the application form with details about the course you wish to pursue, the institution, and the loan amount required.
3. **Documentation**: Upload the necessary documents, such as proof of admission, academic records, identity proof, address proof, and income details of the co-borrower.
4. **Selection of Banks**: Choose the banks from which you want to apply for the loan. The portal allows you to apply to multiple banks simultaneously.
5. **Processing**: Once your application is submitted, the banks will review your application and contact you for any additional information or documentation if required.
6. **Approval**: The approval of the loan will depend on the criteria set by the individual banks, including academic performance, the course and institution, and the financial stability of the co-borrower.
While academic performance is a factor in the approval process, having a strong co-borrower and fulfilling other criteria can enhance your chances of getting a loan. It’s advisable to reach out to the banks you are interested in through the portal to discuss your specific situation and get more detailed guidance.