Maximum Loan Amount Through the Vidya Lakshmi Portal: Every year a lot of students benefit from the Vidya Lakshmi Portal through its loan schemes. The portal is registered with 44 banks and about 138 loan schemes are available for students planning to study abroad or in India.
As the loan requirements vary from student to student, we are going to address an important question asked by many students about the maximum amount of loan that they can avail through this portal.
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What is the Highest Amount of Loan that I Can Get Through the Vidya Lakshmi Portal?
The highest loan amount available for students through the Vidya Lakshmi Portal is up to INR 1.5 crores. However, this does not mean that every student is eligible to get this loan amount. The amount of the loan that you’ll get depends on your course, your loan requirements, and also on your eligibility.
If you want to know about the eligibility criteria for applying for an education loan through the Vidya Lakshmi Portal then you must read Vidya Lakshmi Portal Education Loan: Eligibility Criteria.
Different Loan Amounts Provided by Banks
When you go through different banks on the portal, you’ll notice that most of the banks provide loan amounts between INR 4 lakhs to INR 20 lakhs. However there are some banks that even provide up to INR 1.50 crores, but this depends on the loan scheme, the course and the university.
To give you an idea, let’s take a look at the loan amount provided by the ICICI Bank and the Bank of Baroda.
Maximum loan amount provided by ICICI Bank
The maximum loan amount provided by the Bank of Baroda under the ‘Baroda Scholar Scheme’
Finding Out the Maximum Loan Amount Provided by a Bank
The maximum amount of loan that a bank provides varies from bank to bank. And, a student can find out this information by clicking on the option ‘Search & Apply for Loan Scheme’ that is available on the bottom left of the homepage. When you click on this option a list of banks will be available and you can check the maximum amount that is provided under a loan scheme.
For example, if you click on HDFC Bank’s loan scheme, then you’ll see the details related to it.
Choosing ‘HDFC Bank’s Education Loan’
The maximum loan amount available through HDFC Bank Education Loan:
You may also be interested to know about the banks that provide education loans through the Vidya Lakshmi Portal. To check the list of banks, you must read our blog:
Vidya Lakshmi Portal Bank List: A Comprehensive List
FAQs
To apply for a loan on the Vidya Lakshmi Portal, you need to first register. After you have registered you need to fill out the Common Education Loan Application Form (CELAF).
The interest rate varies from bank to bank and to know about the same you need to click on the option ‘Search & Apply for Loan Scheme’ that is available on the bottom left of the homepage.
To get an education loan through the portal, you must secure admission to a recognised college/university. Additionally, students must meet the eligibility norms laid down by the concerned lender.
In this blog, we answered a common question asked by students about the maximum loan amount that they can get through the Vidya Lakshmi Portal. To know more about the Vidya Lakshmi Portal loan application process, 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.
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