Am I eligible to apply for an education loan on the PM Vidya Lakshmi Portal to study abroad?
To apply for an education loan through the PM Vidya Lakshmi Portal for studying abroad, you generally need to be an Indian citizen with admission to a recognised institution, a course approved by the participating bank and a co-applicant. Each bank sets its own eligibility, course and co-applicant rules.
To apply for an education loan through the PM Vidya Lakshmi Portal for study abroad, you generally need Indian citizenship, admission to a recognised institution, an approved course and a co-applicant. Final eligibility, approved courses and co-applicant rules are set by the selected participating bank, and the PM-Vidyalaxmi special benefit applies only to eligible Indian institutions.
Eligibility checklist
| Requirement | What it means |
|---|---|
| Indian citizenship | Applicants must be Indian citizens |
| Admission | Secured admission, or meeting the bank's admission requirements, at a recognised institution in India or abroad |
| Approved course | The course must be approved by the participating bank and offered by a recognised institution |
| Co-applicant | Most loans need a parent, guardian, spouse or close family member |
| Credit assessment | Banks check the co-applicant's financial profile and repayment capacity along with your academics and course |
Programmes the portal supports
- Undergraduate, postgraduate, PhD and doctoral programmes.
- Diploma and certificate courses.
- Professional courses such as engineering, medicine, management, law, pharmacy, architecture and nursing.
- Study abroad programmes at recognised international institutions, subject to the bank's criteria.
My Advice
Line up your co-applicant's income documents early, because their profile weighs heavily on the decision. Compare the participating banks' terms on the portal before choosing where to apply.
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