Government of India education loan scheme

PM Vidyalaxmi college list and loan rates

PM Vidyalaxmi is the government's collateral-free education loan scheme for students at India's top institutions. Search the full list by course, state or category to see your college's rate and how to apply.

No collateral under the scheme
No guarantor: a parent or guardian co-borrows
No processing fees under the scheme
Sanction in 2 days through FundMyCampus (loans under ₹50 lakh)

Find your college

1,441
institutions listed: 7.10%
lowest PNB rate: Full amount
without collateral: 15 years
to repay

Interest subsidy by family income

Up to ₹4.5 LakhAll interest during study

Up to ₹8 Lakh3% of the interest

Search the list

Find your college

All 1,441 institutions on the official list, with their category, PNB rate and AISHE code. Colleges with a full loan guide open in one click.

Only colleges with a full loan guide (263)

Showing 263 of 1,441 institutions

Rates are PNB's PM Vidyalaxmi rates for each institution. Other banks may differ and the lender sets the final rate. Courses are taken from each college's programme list where we have checked it, and from its name otherwise.

The scheme

What is PM Vidyalaxmi?

PM Vidyalaxmi is a central government scheme, approved on 6 November 2024, that helps students pay for higher education at India's best institutions. A student with a merit seat at any of the 1,441 listed institutions can take an education loan from a bank without collateral or a guarantor.

There is no collateral, no guarantor and no processing fee under the scheme, and the government pays part or all of the interest for lower-income families. Applications go through one common portal.

Eligibility

Who is eligible

The student
Any Indian student with a merit-based admission to a listed institution. A parent or guardian joins the loan as co-borrower.
The institution
Top 100 in NIRF overall, category or subject rankings, top 200 state and union territory government institutions, and all Government of India institutions.
For the subsidy
Family income up to ₹8 Lakh for 3% subsidy, and up to ₹4.5 Lakh for full interest cover on technical and professional courses.

Interest subsidy by family income

Family income a year	What the government pays	Scheme
Up to ₹4.5 Lakh	All the interest during the course and the grace year, on loans up to ₹10 Lakh	CSIS scheme, for technical and professional courses
Up to ₹8 Lakh	3% of the interest during the course and the grace year, on loans up to ₹10 Lakh	PM Vidyalaxmi, for up to 1,00,000 new students a year
Above ₹8 Lakh	No subsidy. You still get the loan, and banks can cut the rate by up to 1% if you pay interest during the course	PM Vidyalaxmi

Sources: PM Vidyalaxmi portal and CSIS scheme on myScheme (Government of India)

Benefits

Benefits of a PM Vidyalaxmi loan

No collateral, no guarantor
Nothing to pledge under the scheme. A parent or guardian joins as co-borrower.
No processing fees
No processing or upfront charges under the scheme.
Lower, capped rates
Interest is capped at the bank's RLLR + 0.5%, and top-band colleges get the lowest rates.
3% interest subsidy
For family income up to ₹8 Lakh, on loans up to ₹10 Lakh, during the course and grace year.
Full course costs
Tuition, hostel, mess, a laptop and reasonable living costs. No margin up to ₹4 Lakh, then 5% paid by the student.
Up to 15 years to repay
EMIs start one year after the course ends.
One form, many banks
A single application on the PM Vidyalaxmi portal reaches up to three banks.
No foreclosure charges
Under RBI rules, banks cannot charge for prepaying or closing floating-rate loans to individuals.

Utkarsh, Uttam and Uday: categories and rates

Every institution sits in one of three bands. The band sets the rate range banks use for its students.

Utkarsh
7.10% to 8.85%
PNB rate range
Top band. Lowest rates.
79 institutions5% of the list
Uttam
7.30% to 8.85%
PNB rate range
Middle band. Rates between Utkarsh and Uday.
189 institutions13% of the list
Uday
7.60% to 8.85%
PNB rate range
Widest band, covering well-ranked institutions in every state.
1,173 institutions81% of the list

Rates are floating and move with the RBI repo rate. The final rate is set by your bank.

Process

How to apply

1
Step 1: Check your college
Find it in the list above and note its category and rate.
2
Step 2: Keep documents ready
Class 10 marksheet, Class 12 (or last qualifying exam / diploma) marksheet, Proof of admission to the course, Schedule of expenses from the institution, plus PAN and Aadhaar.
3
Step 3: Apply on the portal
Fill in the common form on the PM Vidyalaxmi portal and choose up to three banks. Only one application can be active at a time.
4
Step 4: Sanction and disbursal
The bank sanctions the loan and pays the college directly, semester by semester. Then claim the interest subsidy on the portal.

For the full rules, read how the PM Vidyalaxmi scheme works and its benefits, or check the official PM Vidyalaxmi portal.

Why FundMyCampus

Let us file it for you

Sanction in 2 days
Digital sanction within 2 days for loans under ₹50 lakh at PM Vidyalaxmi colleges.
Free for students
We don't charge you anything.
One counsellor throughout
The same counsellor from application to disbursement.
Paperwork and portal handled
We handle the paperwork and your PM Vidyalaxmi portal application.
Compare 12+ banks and NBFCs
We compare 12+ banks and NBFCs and apply where you fit best.
Help when a bank says no
We help with CIBIL issues and NBFC options if a bank turns you down.

Talk to a PM Vidyalaxmi loan expert

Tell us your college and we will check your rate, your subsidy and the best bank for you. Digital sanction within 2 days for loans under ₹50 lakh.

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FAQs

PM Vidyalaxmi college list FAQs

What is the PM Vidyalaxmi scheme?

PM Vidyalaxmi is the central government's education loan scheme, approved on 6 November 2024. Students who get a merit seat at one of 1,441 listed institutions can borrow from banks without collateral or a guarantor, with a government guarantee and an interest subsidy for lower incomes.

Which colleges are on the PM Vidyalaxmi list?

The top 100 institutions in the NIRF overall, category and subject rankings, the top 200 state and union territory government institutions, and all other Government of India institutions. Use the search above to check any college by name or AISHE code.

Who is eligible for a PM Vidyalaxmi education loan?

Any student with a merit-based admission to a listed institution in India, from any income group. Family income only decides whether you also get an interest subsidy.

What is the interest rate under PM Vidyalaxmi?

It depends on the college's category and the bank. At PNB, rates on this list run from 7.10% to 8.85%. Rates are capped at the bank's RLLR + 0.5% and move with the RBI repo rate.

Is collateral needed for a PM Vidyalaxmi loan?

No. Under the scheme, loans are collateral-free and guarantor-free. A parent or guardian joins as co-borrower.

Is there a processing fee on a PM Vidyalaxmi loan?

No processing or upfront charges under the scheme. Banks may charge small portal enrolment and account fees. Through FundMyCampus, digital sanction takes 2 days for loans under ₹50 lakh.

Who gets the PM Vidyalaxmi interest subsidy?

Students with family income up to ₹8 Lakh get 3% interest subsidy during the moratorium on loans up to ₹10 Lakh, for up to 1,00,000 new students a year. For family income up to ₹4.5 Lakh, the CSIS scheme pays the full interest during the moratorium for technical and professional courses.

What do Utkarsh, Uttam and Uday mean?

They are the three bands every listed institution falls into. Utkarsh is the top band with the lowest rates, Uttam is the middle band and Uday is the widest band. The band sets the rate range banks use.

How long is the repayment period?

Up to 15 years, starting one year after the course ends.

How do I apply for a PM Vidyalaxmi loan?

Apply on the PM Vidyalaxmi portal with one common form, upload your documents and choose up to three banks. FundMyCampus can file it for you and follow up with the bank until the fee is paid.

Why is a college shown as page coming soon?

Every institution on the official list is shown here. A full loan guide with fees, programmes and a worked EMI example opens for each one once our team has checked its details against official sources.