PM-Vidya Lakshmi Yojana, loans up to 10 Lakhs without collateral

NOB-Bharat news: Under the Pradhan Mantri Vidya Lakshmi Yojana, students have the opportunity to secure an education loan of up to Rs.10 lakhs without the need for a guarantor. This scheme covers various expenses, including tuition fees, hostel charges, books, laptops, and living costs. Launched by Prime Minister Modi’s government, this scheme is applicable to students pursuing their studies at educational institutions with an NIRF ranking. Families with an annual income of less than Rs.4.5 lakhs are eligible for a full interest waiver, while those with an annual income of up to Rs.8 lakhs receive a 3% interest subsidy. Applications can be submitted through the official portal: pmvidyalaxmi.co.in.