Is it Mandatory to Register for the Vidya Lakshmi Portal?

Is it Mandatory to Register for the Vidya Lakshmi Portal

Vidya Lakshmi portal provides you access to information regarding various education loan schemes by different banks. A total of 44 banks are associated with Vidya Lakshmi for education loans. You can check the best-suited scheme and apply online on the portal. However, it is mandatory to register with the Vidya Lakshmi portal before you start checking banks and loan schemes. Let’s understand the registration process for the Vidya Lakshmi portal. 

Why is it Mandatory to Register for Vidya Lakshmi Portal?

Registration and signup is mandatory on the Vidya Lakshmi portal. Only the students who have successfully registered and created profiles can apply for education loans. When you sign up and register on the portal, a dashboard will be made where you can check all the details about your education loan. Without registering on the portal you won’t be able to check schemes by the banks, loan policies, terms and conditions etc.

  • The portal will allow you to fill out the Common Education Loan Application Form (CELAF) only after you complete the registration process.
  • You will be able to check the schemes offered by the banks on the portal and apply accordingly.
  • The CELAF will be the only application form accessed by the banks to which you have applied and you don’t need to apply separately. This is why it is very important to fill out the registration form as the same will be used for all further communication and processes. 
  • At the time of registration, you will be required to enter contact details like email address and phone number. Fill in that information properly as the bank will contact you on the same for processing your education loan application.

Canara Bank is one of the leading public sector banks in India and is also associated with Vidya Lakshmi Portal. Check this blog on Vidya Lakshmi Canara Bank Education Loan

Important Guidelines for Registration on the Vidya Lakshmi Portal

Registration is the initial process for your education loan on the Vidya Lakshmi Portal. The government developed this portal to provide easy access to students who want to pursue higher education with education loans. While creating a profile on the portal you must know that it will be created only once and you cannot create multiple accounts. The registration process is simple and the portal has a user-friendly interface. 

  • After submitting the registration form you will receive an email with an activation link. Click that link to activate your account on the portal.
  • Try to complete the registration using the activation link as it will be expired after midnight.
  • Make sure that you have entered all the information properly and that there are no discrepancies. 
  • In case you have entered some improper information you can correct it through the ‘edit profile’ option available on the dashboard. 

Read this blog on How to Apply for Education Loan through Vidya Lakshmi Portal

FAQs

Why is it important to register on the Vidya Lakshmi portal?

You won’t be able to check information on education loans and apply for the same without registering on the Vidya Lakshmi portal.

Do I need to register separately on the portal to apply to different banks?

No. You can apply loan with 3 banks at a time and there is no need to register separately. All the processes will be carried out with the same profile. 

Can I check the schemes without creating a profile on the Vidya Lakshmi portal?

You have to create a profile first on the portal. You won’t be able to access any information without registering on the portal. 

This was all about the importance of registration on the Vidya Lakshmi portal. Create your profile submit the information properly and make sure there is no mistake. 

To know more about the Vidya Lakshmi Portal, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience. 

Related Blogs
How to Secure Good Education Loan at Low Interest Rates
All About Secured Loans
What are the Features of Vidya Lakshmi Portal

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About Shekhar Suman

Shekhar is a versatile writer with a passion for sharing knowledge and creativity. With expertise in crafting informative blogs on study abroad and finance, Shekhar helps readers navigate the complexities of education and financial planning. Most of his writings blend the practicality of finance and the beauty of language, making a meaningful impact in both spheres. Beyond his professional pursuits, he finds solace in the writing Shayari.

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