Education loan (PM-Vidyalaxmi, interest subsidy)
How to ask banks for an education loan with one application on the central government's PM-Vidyalaxmi portal, who gets the interest subsidy (CSIS, PM-Vidyalaxmi) and how to claim it.
About this guidePending verification
Published on 12-11-2026. Not every fact has been checked against its official source yet: confirm at the office.
For whom: Students in Telangana who need a loan for higher studies, and their parents.
Answer the questions below first. Then the documents and steps open.
1Your situation
We show only what your answers need.
- Where will you study?
- How did you get your seat?
- What is your family's total yearly income (from all sources)?
- Do you get ePASS fee reimbursement, or any other central or state government scholarship?
Your answers stay on this phone.
Each step below says who it is for. Confirm yours at the office, then change your answer here.
2Documents you need
Tick the ones you have. They are kept in this browser.
Details
Sources: 2
Details
Sources: 2
Details
Give the quota and the course on the form exactly as in this letter.
Sources: 2, 4
Details
Sources: 2, 4
Details
Sources: 2, 4
Details
The name and date of birth on the form must match the PAN exactly.
Sources: 4
Details
Sources: 4
Details
What the photo must look like- File for an online form: up to 200 KB, JPEG/PDF
Not confirmed: The portal gives no photo size, only that each file must be up to 200 KB.
Sources: 2, 4
Details
Only if the portal asks: movable or immovable property.
Sources: 4
Details
Issued by a State Government authority; or, as the portal allows, Annexure-6 from the institution.
Sources: 5, 6, 4, 2
Nothing to get ready before these steps.
3Your steps
· Do them in order. Tick each one when it is done.
- Do this nowIf: In India
Check whether your college is on the 'Institutes Eligible for PMVidyalaxmi Loan' list on the PM-Vidyalaxmi home page.
If it is, and your seat is on merit, the scheme of loans without collateral or guarantor applies. Even if it is not, you can apply to banks on the same portal.
Open the official pageSources: 3, 1, 4, 8
- Do this now
On pmvidyalaxmi.co.in open 'Login' → 'Student Login' → 'Create an Account' and give your name, mobile number, e-mail and a password.
Enter the OTPs sent to your e-mail and mobile and submit. You get a Student ID.
Open the official pageNot confirmed
The portal pages do not say whether there is any fee; none of the steps we read asks for a payment.
Sources: 4, 2
- Do this now
After logging in, open 'Apply for Education Loan' and authenticate with an Aadhaar OTP.
You can go on without Aadhaar, but Aadhaar is required for the PM-Vidyalaxmi loan, interest subvention, credit guarantee and the CSIS subsidy.
Open the official pageSources: 4, 2
- Do this now
Fill in the two-page common application.
Page 1: your details, PAN ('Verify PAN'), the student's or co-applicant's bank account, your Class X and XII school / college. Page 2: the quota of your seat, the course and the institution (exactly as in the allotment letter), the full cost of the course, your own funds / scholarship, the loan you need, and in how many monthly instalments (at most 180) you will repay.
Open the official pageSources: 4, 2
- Do this now
If your college is not on the PM-Vidyalaxmi list, or the seat is management / NRI quota, and the loan is above ₹7.5 lakh, the portal asks for security details.
Give the type of property and whose it is.
Open the official pageSources: 4
- Do this now
Upload the documents as PDF or JPEG, each up to 200 KB.
Those marked * are required.
Open the official pageSources: 2, 4
- Do this now
Preview the application, choose up to three banks and their branches, and submit.
You can have only one active application at a time. The bank checks the documents and decides whether to sanction the loan. For a merit seat at a listed college the PM-Vidyalaxmi loan needs no collateral or guarantor, the scheme sets no upper limit on its amount (it depends on the college's fees and the other costs of the course), and its interest rate cannot be more than that bank's EBLR + 0.5%; for other loans the bank decides the security and the rate. Each bank's rate differs, and the portal says to check it on the bank's website.
Open the official pageSources: 4, 2, 5, 8, 10
- Do this now
See the status under 'Track Loan Application' (Submitted, Reqinfo, Sanctioned, Disbursed, Rejected and so on).
If a bank asks for documents (Reqinfo), give them quickly. You can withdraw the application only while it is 'Submitted'; after that, ask that bank's branch.
Open the official pageSources: 2, 4
- Do this now
If the bank checks the documents and sanctions the loan, it will ask you to open a savings account in the student's name (or jointly with a parent) at that branch.
When you ask for it, the bank pays the money straight to the institution's account. The portal itself pays nothing; it is only a way to apply.
Sources: 2
- Do this nowIf: Abroad
For studies abroad you can apply on the portal by choosing 'Abroad Studies'.
But the PM-Vidyalaxmi collateral-free loan scheme and the CSIS and PM-Vidyalaxmi interest subsidies are for studies in India only; all the loan terms are the bank's.
Sources: 4, 5, 6, 3, 8
- Do this nowIf: Management quota or NRI quota
Management / NRI quota seats do not get the PM-Vidyalaxmi or CSIS benefits; the portal shows a message saying so.
You can still ask a bank for a loan through the portal; above ₹7.5 lakh, security is asked for.
Sources: 2, 4
- Do this nowIf: Above ₹8,00,000
If family income is above ₹8 lakh, neither scheme's interest subsidy applies.
A merit seat at a listed college still comes under the collateral-free loan scheme.
Sources: 1, 2, 5
- Do this nowIf: Up to ₹4,50,000If: No
With income up to ₹4.5 lakh, under CSIS the central government pays all the interest on up to ₹10 lakh of the loan for the course period plus one year.
Conditions: a professional or technical course at a NAAC- or NBA-accredited institution, an Institution of National Importance or a centrally funded technical institution; only once, for a UG or a PG course; not if you drop out or are expelled (except on medical grounds). After that period you pay the interest.
Sources: 5, 6
- Do this nowIf: Yes
Students getting another central or state government scholarship, fee reimbursement or interest subsidy cannot get the CSIS interest subsidy or the PM-Vidyalaxmi 3% subvention.
You can still ask for the loan through the portal.
Sources: 5, 4, 8, 9
- Do this nowIf: Up to ₹4,50,000 / Above ₹4,50,000, up to ₹8,00,000If: No
With family income up to ₹8 lakh, a merit seat at a listed college may get a 3% interest subvention under PM-Vidyalaxmi on up to ₹10 lakh of the loan during the moratorium (the course period plus one year).
This includes income up to ₹4.5 lakh when your course does not get the full CSIS subsidy. It is for at most one lakh students a year; if there are more, they are chosen in this order: admission to a government institution, technical / professional courses, Class XII from a government school, Class X from a government school, Class XII from a rural school, girl students.
Sources: 2, 1, 8, 10
- Do this nowIf: No
After the bank sanctions the loan and releases the money, open 'Apply for Interest Subvention' on the portal, verify your Aadhaar and fill in 'Claim Interest Subvention'.
Upload an income certificate from a government authority or Annexure-6 from your institution.
Open the official pageSources: 4, 2, 3, 5
- Do this nowIf: No
The lending bank must claim the subsidy every year.
For a loan given in one financial year, the claim process starts in the next. The window for 2025-26 claims is 01-09-2026 to 31-12-2026. If the bank does not claim, backlog claims are not taken later, so ask your branch within the window and make sure it sent the claim. To get either subsidy, the loan must have been applied for through the PM-Vidyalaxmi portal (from 25-02-2025); make sure you chose the interest subvention there. The 2022 CSIS guidelines say the subsidy goes to your loan account; the PM-Vidyalaxmi portal says it goes to a Digital Rupee Wallet, and you must move it from the wallet to your loan account. Move it within 90 days of its reaching the wallet (the scheme leaflet says within 30 days, so do it at once); otherwise the money goes back to the Ministry and you lose that year's subsidy.
Sources: 3, 2, 5, 6, 9, 8, 10
If something goes wrong
If it is rejectedIf a bank rejects the application, ask that bank why.
If a bank rejects the application, ask that bank why. Once every bank you chose has closed or rejected it, you can apply again on the portal. If a bank does not answer, complain on the portal under 'Initiate Grievance' → 'Register New Complaint', choosing the application ID, the type of grievance and the bank; you get a grievance ID and can raise it again if it is not resolved. Whether to lend is the bank's commercial decision; the RBI Ombudsman does not take complaints about that.
PM-Vidyalaxmi portal grievance · Open the official page
18001031
Sources: 2, 4, 1, 7
If it is lateIf a bank does not answer your application, or there is a fault in its service (such as not sending the subsidy claim), first complain to that bank in writing and keep the complaint number.
If a bank does not answer your application, or there is a fault in its service (such as not sending the subsidy claim), first complain to that bank in writing and keep the complaint number. If there is no reply in 30 days, or you are not satisfied, complain free of charge to the RBI Ombudsman on cms.rbi.org.in, within 90 days after that. On 14448 they explain how to complain and give the status; they do not take complaints by phone.
RBI Ombudsman (CMS portal) · Open the official page
Sources: 7, 5
AlsoThe PM-Vidyalaxmi portal gives no money; the loan comes only from the bank you choose, and the money goes straight to the institution.
The PM-Vidyalaxmi portal gives no money; the loan comes only from the bank you choose, and the money goes straight to the institution. Do not pay anyone who asks for money to 'get you a loan'; never tell anyone your OTP or password.
PM-Vidyalaxmi toll-free · Open the official page
18001031
Sources: 2, 1
AlsoFor problems such as the portal not working or your course missing from the list, call the toll-free number 1800 1031 or e-mail support@pmvidyalaxmi.co.in.
For problems such as the portal not working or your course missing from the list, call the toll-free number 1800 1031 or e-mail support@pmvidyalaxmi.co.in.
PM-Vidyalaxmi help · Open the official page
18001031
Sources: 1, 4
Official websites for this work
- PM-Vidyalaxmi Education loans: one application for the banks
- RBI Ombudsman Complain about a bank
Related guides
The 11 official pages and papers this guide is written from
- PM-Vidyalaxmi: 'About PM-Vidyalaxmi Scheme' and 'About Us'Department of Higher Education, Ministry of Education, Government of India: PM-Vidyalaxmi portal (developed and maintained by Canara Bank on behalf of the Department), Cabinet approval of 6 November 2024; collateral-free, guarantor-free loans for students admitted to top Quality Higher Educational Institutions; 75% credit guarantee up to ₹7.5 lakh; 3% interest subvention on loans up to ₹10 lakh for family income up to ₹8 lakh, in addition to the full subvention up to ₹4.5 lakh; all Scheduled Banks, RRBs and Cooperative Banks; portal developed under the guidance of DFS, DoHE and IBA, maintained by Canara Bank; toll-free 1800 1031 · read on 02-11-2026
- PM-Vidyalaxmi: 'Frequently Asked Question (FAQ)'Department of Higher Education, Ministry of Education, Government of India: PM-Vidyalaxmi portal, Features (management quota not eligible); selection for the 3% subvention (one lakh students a year, order of preference); documents to upload; how to apply; sign-up; Aadhaar mandatory for scheme benefits; tracking and rejection (contact the bank); disbursement (bank verifies, money to the institution; the portal releases no funds); one active application, up to three banks; withdrawal; interest rate set by each bank; PDF and JPEG up to 200 KB; claiming interest subvention (through the financing bank, the year after the loan); account in the lending bank · read on 02-11-2026
- PM-Vidyalaxmi: home pageDepartment of Higher Education, Ministry of Education, Government of India: PM-Vidyalaxmi portal, Notice: interest subvention claim window for FY 2025-26 (PM-USP-CSIS and PM-Vidyalaxmi) open from 01.09.2026 to 31.12.2026, claims submitted by the bank on the CSIS portal, students who applied through the portal to have opted for subvention there; 'Institutes Eligible for PMVidyalaxmi Loan' list; toll-free number; 'education loans for pursuing higher education in India and abroad'; the scheme is for students enrolling in eligible QHEIs in India · read on 02-11-2026
- PM-Vidyalaxmi: User Manual for Student LoginDepartment of Higher Education, Ministry of Education, Government of India: PM-Vidyalaxmi portal, Sections 2 (services), 6.1–6.4 (register, login, Aadhaar authentication, the form: PAN verification, bank details, quota and course as in the allotment letter, cost of course, up to 180 instalments, security details when the institute is not a top QHEI or the seat is management / NRI quota and the loan is above ₹7.5 lakh, uploads of up to 200 KB, preview, up to three banks), 7 (tracking, withdrawal), 8 (interest subvention: Aadhaar, income certificate from a public authority or Annexure-6 from the institute), 9 (grievances) · read on 02-11-2026
- Pradhan Mantri Uchchatar Shiksha Protsahan (PM-USP) Yojana: Central Sector Interest Subsidy (PM-USP CSIS), applicable for education loans taken from 01.04.2022Department of Higher Education, Ministry of Education, Government of India (published by Canara Bank, the scheme's Nodal Bank), Paras 1 (IBA Model Education Loan Scheme; income up to ₹4.5 lakh; modified by the Union Cabinet on 19.01.2022), 2 (once only; up to ₹10 lakh; no collateral or third-party guarantee up to ₹7.5 lakh; interest for the course period plus one year borne by the Government), 3 (eligibility: NAAC / NBA / INI / CFTI professional or technical courses; not for students with another Central or State scholarship or fee reimbursement; not for those who discontinue or are expelled, except on medical grounds), 4 (interest rates are the banks'), 6 (income proof from an authorised public authority of the State Government), 9 (Canara Bank, Nodal Bank), 13 (claims by the lending bank every year; no backlog claims; subsidy to the loan account by DBT) · read on 02-11-2026
- Canara Bank: 'CSIS for Education Loans for Inland Studies'Canara Bank (a public sector bank), Nodal Bank for the Ministry of Education's interest subsidy scheme, Eligibility (income up to ₹4.50 lakh, certificate from authorised State Government officers; full interest subsidy up to ₹10 lakh for the course period plus one year); 'Eligible students have to contact branches where they have availed/availing loans'; contact of the PM-Vidyalaxmi Portal Section · read on 02-11-2026
- Frequently asked questions: Reserve Bank - Integrated Ombudsman Scheme, 2026 (updated as on July 01, 2026)Reserve Bank of India, FAQs 7, 9, 10, 11 (CMS portal, Contact Centre 14448, no complaints by phone), 16 (not maintainable: no prior complaint to the bank; matters of the bank's commercial judgment), 17 (30 days, then within 90 days), 18 (details needed), 21 (no fee) (01-07-2026) · read on 02-11-2026
- Pradhan Mantri Vidyalaxmi (PM-Vidyalaxmi) Scheme Guidelines (applicable for education loans taken after 6th November 2024)Department of Higher Education, Ministry of Education, Government of India, Paras 2.1 (collateral-free, guarantor-free loans for students admitted on their own merit to quality HEIs in India), 2.3 (no cut-off on the highest loan amount; it depends on the QHEI's fees and the other associated expenses), 3.1 to 3.1.3 and the table in 3.3 (3% subvention for family income up to ₹8 lakh on up to ₹10 lakh, during the moratorium of the course period plus one year; income up to ₹4.5 lakh: CSIS for technical / professional courses, 3% for other courses; one lakh a year), 5.2, 5.6 (not with another Central / State scholarship, interest subvention or fee reimbursement), 6.1.4 and 6.2 (foreign institutions not covered; study in India only), 8 (interest capped at the bank's EBLR + 0.5%), 19.4 (the wallet amount returns to the Department if not used within 3 months of credit, and that year's subvention is lost). The file carries no date of issue; its first page says '(Applicable for Education Loans taken after 6th November 2024)' and its page headers 'Dept of Higher Education, 2024' · read on 11-11-2026
- F. No. 39-1/2025-CSIS-Part(5), 04-11-2026: 'Central Scheme of Interest Subsidy for Educational Loans for Inland Studies & PMVIDYALAXMI Scheme of Interest Subsidy for Educational Loans for QHEI' (questions and replies)Scholarship Division, Department of Higher Education, Ministry of Education, Government of India, S. Nos. 3 (applying through the PM-Vidyalaxmi portal is mandatory from 25.02.2025 to get the CSIS / PM-Vidyalaxmi interest subvention), 12 (the subsidy is credited to the PM Vidyalaxmi Digital Rupee app wallet), 21 (to be redeemed within 90 days of receipt, or it goes back to the Ministry and that financial year's subvention is lost), 22 (not with another interest subvention or scholarship). A scanned document, read by eye (04-11-2026) · read on 11-11-2026
- PM-Vidyalaxmi: scheme leaflet ('Empowering India's Youth')Department of Higher Education, Ministry of Education, Government of India: PM-Vidyalaxmi portal, 'PM - Vidyalaxmi Scheme' (3% interest subvention with annual family income up to ₹8.00 lakh for all courses; interest rates capped at the bank's EBLR + 0.5%); 'PM - Vidyalaxmi Digital Rupee App (CBDC Wallet)' (every year the student approves the transfer to the loan account within 30 days of receipt). Two image pages, read by eye · read on 11-11-2026
- TS ePASS: 'Scholarships' (post matric scholarships: income limit, components, operational guidelines, age eligibility)Scheduled Castes Development Department and the welfare departments (ePASS), Government of Telangana; site by the Centre for Good Governance, 'Components': 'Reimbursement of tuition fee (RTF)', the state's fee reimbursement given through ePASS · read on 02-11-2026