How to Download the Application Form from the Vidya Lakshmi Portal: Vidya Lakshmi Portal Education Loan is an initiative our former Finance Minister Shri Arun Jaitley took. In 2015, he announced to set up a fully digital platform to provide education loans to students coming from middle, lower-middle or poor-class backgrounds so that they can pursue their higher education without any financial constraints.
As a result, the Vidya Lakshmi Portal Education Loan was developed under the guidance and supervision of the Ministry of Finance, the Ministry of Education and the Indian Bank Association. In this blog, you will understand how a student can download the application form after applying for this loan.
Table of contents
Steps to Download the Application Form from the Vidya Lakshmi Portal
By following the simple and easy steps, you can download the application form from the Vidya Lakshmi Portal. Let’s have a look at each of these steps one by one:
Also Read: Vidya Lakshmi Portal Education Loan: Eligibility Criteria
Registration for the New User
The first step that comes while downloading the form is that you need to register at the portal. You can do so by visiting the official website of the Vidya Lakshmi Portal Education Loan. You need to fill out your details like title, name, contact number, and email address, and you will also be required to choose a password of your choice. After agreeing to the terms and conditions you can submit the form. You will receive an email on your registered email address to verify your account. Once the verification is done, you are all set to fill out the application form.
Steps to Fill Out the Application Form
After the successful registration, you can log in using your email address and your password. Search for the Loan Application Form and click on it. You will get a list of instructions that you need to follow to fill out the application form. After reading the instructions carefully click the ‘Next’ button where you will need to enter your personal information.
- You will be required to provide your bank relationship details either of the students or parents.
- Next to this comes the ‘Course Details’ section where you are required to mention whether you are taking admission in this course under merit or management quote along with the duration of the course.
- Post this you will need to provide the name of the institution, name of the course, date of the start and end of the course.
- Enter the fee structure of the course year-wise and also mention your contribution and the number of instalments in which you will pay the loan with the instalment amount.
- Upload all your relevant documents, agree to the terms and conditions and then click on the save button.
Once you have submitted the documents, the portal will generate a registration number with the help of which you can apply for the loan with your preferred bank. After saving the application form go to the Search and Apply for the Loan section. Choose the bank as per your choice and you can apply to a maximum of 3 banks and for only one scheme of any bank. After that click on the Apply button. Select your nearest branch location and enter your registration number on the application form.
After you follow the above given steps you will receive a message that your application form has been successfully submitted to the respective bank.
Also Read: Vidya Lakshmi Portal Education Loan
Download the Application Form
After you have successfully submitted your application form, you will also get an option to download the application form. You can download the form and keep it for future reference.
FAQs
More than 40 banks have partnered with the Vidya Lakshmi Portal.
The interest rate of the Vidya Lakshmi Portal is 8.40% and goes up to 18% based on the requirements of the students.
Students who are Indian citizens and belongs to the middle, lower-middle and poor-class background are eligible for this loan.
This was all about how you can download the application form from the Vidya Lakshmi Portal.
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