Money is very necessary for a student to pursue higher education. And different banks give loans for that money. Today we will discuss Vidya Lakshmi Education Loan. How to apply for this loan will be discussed in detail in today's report.
What is Education Loan?
The bank lends us some money for our higher education. Later, after our higher education, we have to pay that money to the bank with interest at a certain time. This is an education loan.
Vidya Lakshmi Education Loan
Vidya Lakshmi Education Loan is currently very popular in India. Because these loans are directly administered by the Ministry of Education, the Ministry of Finance, and the Indian Banking Association in a joint venture.
Vidya Lakshmi Education Loan Online Apply
To avail Vidya Lakshmi Education Loan you need to apply online. The website to apply is www.vidyalakshmi.co.in. By applying on this website, you can apply for a loan in any three banks of your choice.
Vidya Lakshmi Education Loan Eligibility
Any Indian citizen can apply for this loan. 12th Pass for Under Graduate Loan and Under Graduate Degree for Post Graduate Loan. But please remember that the course you take should be approved by UGC.
Vidya Lakshmi Education Loan Documents Required
1. 10th & 12th Pass Certificate
2. Adhar Card
3. Pan Card
4. Passport Size Photo
5. Graduation Marksheet
6. Income Certificate
7. Admission Letter
Vidya Lakshmi Education Loan Amount
Vidya Lakshmi Education Loan will not require any guarantor or security if you take up to 4 lakh rupees. But if you take a loan of Rs 6.5 lakh then you need a guarantor but no security. However, if you want to take a loan of more than 6.5 lakh rupees, you will need both a guarantor and a security depositor.
Vidya Lakshmi Education Loan Interest Rate
Vidya Lakshmi Education Loan currently carries 8.3% interest. However, this rate is not always the same and varies from institution to institution.
