Pradhan Mantri Vidya Lakshmi Yojana 2024: Friends, education is really very important nowadays. The government is working hard to help more and more people go to school and learn. In this direction, a new scheme “Pradhan Mantri Vidya Lakshmi Yojana 2024” has been launched. This scheme helps those students who are unable to continue their studies due to lack of money.
Pradhan Mantri Vidya Lakshmi Yojana 2024 Overview
Pradhan Mantri Vidya Lakshmi Yojana 2024 or Pradhan Mantri Vidya Lakshmi Education Loan Scheme 2024 both are the same, which is a big scheme of the government, which helps all the children of the country to get higher education. This scheme is for those children who do not have money for studies. With this scheme, children get a loan of up to Rs 6.5 lakh at a low interest rate, so that they can study in India or abroad.
Under the PM Vidya Lakshmi Yojana, many banks and financial institutions offer loans ranging from ₹ 50,000 to ₹ 6.5 lakh. This loan has to be repaid in 5 years. The interest rate of the loan ranges from 10.5% to 12.75%, which is good for children. The objective of this scheme is that no child should be deprived of education due to lack of money and everyone should get equal opportunities.
The Objective of Pradhan Mantri Vidya Lakshmi Yojana 2024
Under the Pradhan Mantri Vidya Lakshmi Yojana 2024, the government gives loans to the students so that they can afford their studies. This scheme is especially for poor students. Many times even talented students are unable to complete their studies due to financial constraints, in such a situation this scheme can prove to be a boon for them.
Key Points of Pradhan Mantri Vidya Lakshmi Yojana 2024
The objective of Pradhan Mantri Vidya Lakshmi Yojana 2024 is to help students across the country to pursue higher education. Under this scheme, financially weak students can avail education loan up to Rs 6.5 lakh, allowing them to study at recognized institutions in India or abroad.
Features of Pradhan Mantri Vidya Lakshmi Yojana Loan
Loan amount: ₹50,000 to ₹6.5 lakh.
Repayment period: 5 years.
Interest rates: 10.5% to 12.75% per annum.
Eligibility criteria to apply for Pradhan Mantri Vidya Lakshmi Yojana
- To avail a loan under the Pradhan Mantri Vidya Lakshmi Yojana 2024, students have to meet following criterias:
- Must be an Indian citizen.
- Applicant Must have minimum 50% marks in class 10th and 12th.
- Have secured admission for higher education in a recognized institute.
- Have the capacity to repay the loan.
Documents Required for Pradhan Mantri Vidya Lakshmi Yojana
The following documents will be required to apply for Pradhan Mantri Vidya Lakshmi Yojana 2024:
- Application Form
- Identity Card (Aadhaar Card or Passport)
- Income Certificate
- Caste Certificate (if applicable)
- Address Certificate
- Educational Certificate (10th and 12th Marksheet)
The Benefits of Pradhan Mantri Vidya Lakshmi Yojana 2024
- Availability of Different Banks: 38 banks are registered.
- Easy Loan Process: Access multiple schemes by filling one form.
- Government Support: Supported by 10 departments of the Central Government.
- One-Stop Platform: One-stop application facility for scholarships and loans.
- Subsidy: Subsidy is offered for students from weaker and backward classes.