SBI PM Vidyalaxmi - Personal Banking
SBI PM Vidyalaxmi
- Collateral free, guarantor free education loans to students securing admission in QHEIs identified by Department of Higher Education (Click here for List of 953 QHEIs)
- No Processing Fee
- Margin
| Loans upto ₹ 4.00 lakh | Nil |
| Loans from ₹ 4.00 lakh to ₹ 7.50 lakh | 5% |
| Loans above ₹ 7.50 lakh | Nil |
- Courses Covered
All the Graduation/Post Graduation degree and diploma courses offered by QHEIs are eligible. (Indian campus of foreign education institutions, foreign campus of Indian education institutions and foreign education institutions will not be covered.)
- Interest Subvention:
| Annual family* income | Interest subvention | |
| Upto ₹4.50 lakh | Technical / Professional courses | Other courses |
| Upto ₹4.50 lakh | 100% interest subvention(PM-USP CSIS) | 3% interest subvention(PM-Vidyalaxmi) |
| Above ₹4.50 lakh to ₹8 lakh | 3% interest subvention(PM-Vidyalaxmi) | 3% interest subvention(PM-Vidyalaxmi) |
- Moratorium: Course period + 1 year
- Credit Guarantee: 75% Credit guarantee for loan limits up to ₹7.50 lakh (existing scheme to continue)
- Pre-payment charges: Nil
- Quick sanction at Designated Campus Branch or place of residence
- Please click here for Rate of interest
- FAQ on PM-Vidyalaxmi
- Should be an Indian National
- Students of all income groups are eligible for this loan.
- Students admitted through open competitive examinations / merit-based admissions are eligible.
- To be applied through PM-Vidyalaxmi Portal.
- Co-borrower is mandatory for all loans above ₹ 75.00 Lakh in all variants of PM-Vidyalaxmi schemes like Utkarsh, Uttam and Uday.
- Co-applicant is mandatory in case of minor students, irrespective of the loan amount.
Checklist for Education Loan
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Forms |
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Loan Application Form |
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Asset-Liability Statement of applicant/Co-applicant / Guarantor (Applicable for loans above Rs 7.50 lacs) |
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KYC Documents |
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Applicant with KYC compliant account with SBI |
New Customer/ KYC non-compliant account with SBI |
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No fresh KYC document is required.
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Proof of Identity (Anyone): PAN/ Passport/ Driver’s License/ Voter ID card/Proof of possession of Aadhar Number. |
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Address proof to be provided in case of change of address. |
PAN is mandatory if not available in system. |
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PAN is mandatory if not available in your account |
Proof of Residence/ Address (Anyone): Recent copy of Telephone Bill/ ElectricityProof of possession of Aadhar Number. |
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AADHAR to be updated for any application for subsidy schemes of government. |
AADHAR to be updated for any application for subsidy schemes of government. |
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Passport is mandatory for students for Studies Abroad, to be provided in case of non-availability in Bank’s record. |
Passport is mandatory for students for Studies Abroad, to be provided in case of non-availability in Bank’s record. |
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Student Academic details |
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Mark sheet of 10th, 12th, Graduation (if applicable), Entrance Exam Result |
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Proof of admission to course [Offer Letter/ Admission Letter/ ID card if available] |
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Schedule of expenses for course |
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Copies of letter conferring scholarship, free-ship, etc. (if any) |
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Gap certificate, if applicable |
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Income Proof for Co-applicant/ Guarantor |
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Salaried |
Non-Salaried |
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Latest Salary Slip or Salary Certificate |
Business address proof |
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Copy of latest Form 16 or IT Returns (ITR V) |
Latest IT returns |
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Account Statement |
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Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s |
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Security |
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Immovable Security (Land/Building): |
Movable Security |
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Permission for construction (where applicable) |
Bank Deposit (TDR/ STDR/ RD), |
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Copy of non-agriculture land permission |
Insurance Policy (SBI Life/ LIC), |
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Copy of Sale Deed and other documents of title to property in respect of immovable property |
Govt Securities/Bond issued by PSUs, |
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Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt |
Mutual Fund schemes of SBI MF (FMP / DAF) |
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Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property) |
FCNR deposits. |
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Any other document required to establish the chain of title |
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Last Updated On : Wednesday, 04-03-2026
ब्याज दर
2.70% प्रति वर्ष.
से प्रभावी>3.00% प्रति वर्ष.
10 करोड़ रुपए व अधिक, 15.10.2022 से प्रभावी
6.95%
2 वर्ष से 3 वर्ष से कम तक
7.05%*
5 वर्ष से अधिक और 10 वर्ष तक
*शर्तें लागू
5.75%
₹2 लाख तक की ऋण राशि के लिए
7.90%
₹2 लाख से अधिक और ₹6 लाख तक की ऋण राशि के लिए




