Financial crunch will not stop further studies, under this scheme you can get loan worth lakhs without security, apply like this

Apply PM Vidyalaxmi Yojana: The Government of India is running many beneficial schemes for the financial assistance of women, farmers and laborers of the country. The Central Government is also running a similar scheme for crores of students of the country. Today it is the dream of every child to study in a good school-college and obtain a higher degree. But due to family problems and financial constraints, many children are unable to pursue further studies and remain deprived of higher education.

To help economically weaker children, the government is running ‘PM Vidyalakshmi Yojana’. Under this, students can take a loan without mortgaging anything and by getting huge discount in the interest rate and can continue their further studies. This scheme is very beneficial for those students who are financially weak and want to complete their higher education by taking a loan.

What are the benefits of PM Vidyalakshmi Yojana?

• This is a special loan scheme launched by the Central Government for higher education.
• Under this scheme, when you take a loan for studies, you do not need to pledge any guarantor or security.
• If a student takes a loan up to Rs 7.5 lakh, then up to 75 percent of it is guaranteed by the Government of India itself.
• The main objective of this scheme is to ensure that no promising student of the country leaves his studies midway due to financial constraints or poverty.

Which students will benefit from this?

• All the students taking admission in the best educational institutions which are in the top 100 in the National Ranking (NIRF).
• Students studying in those government institutions of the states whose national ranking is between 101 to 200.
• Students taking admission in all higher educational institutions run by the Central Government (like IIT, IIM, NIT, and Central Universities).

How much relief will be given in interest?

• Students whose family’s annual income is up to Rs 4.5 lakh are given special concession in loan interest as per the prescribed government rules.
• Children of families whose annual income is between Rs 4.5 lakh to Rs 8 lakh will get a direct rebate of 3 percent in the interest rate during the course of study on loans up to Rs 10 lakh.

Read this also-If you want the 24th installment of PM Kisan Yojana, then complete these 3 tasks immediately, otherwise Rs 2000 will be stuck.

How to apply for loan online?

• First of all go to pmvidyalaxmi.co.in website.
• Create your account by clicking on the ‘New Registration’ button.
• Log in to the portal by entering your ID and password.
• Fill all the information asked in the loan application form.
• Upload your important documents on the website.
• Select the bank of your choice and submit the form.
• Track loan status online after form submission.