Wednesday, April 11, 2018

Education Loan? Government-Run Portal Allows Students To Apply For 34 Banks At One Place

 Now you can just visit one integrated government-run portal that caters to all the education-loan related needs.  Known as Vidya Lakshmi, this is a portal developed under the aegis of Government of India's three departments: Department of Financial Services, Department of Higher Education and Indian Banks Association (IBA).

A student only needs to do the register himself/herself. For this, the student need to provide some details such as name, mobile number, email id, password and the captcha code
After this, one is supposed to fill up a Common Education Loan Application Form (CELAF). It is a single form that enables you to apply for educational loan to any of the 34 banks registered with Vidya Lakshmi. Since this is the form prescribed by Indian Banks Association (IBA), it is accepted by all the banks. The banks that are registered with Bank of India, Canara Bank, Corporation Bank, IDBI Bank, ICICI Bank, Indian Bank, Indian Overseas Bank and Karur Vysya Bank, Vidya Lakshmi include Allahabad Bank, Bank of Baroda, and Dena Bank

Once you send your CELAF to a particular bank, you can keep a tab on your application by sending your query/grievance directly to the respective bank via Vidya Lakshmi. 

one must remember that a student is allowed to apply for a maximum of three banks via Vidya Lakshmi Portal..