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Bank of Maharashtra -Vidyalaxmi Education Loan

Need-based, collateral-free education finance for eligible courses at 860 listed quality higher-education institutions, with repayment up to 15 years after the moratorium.

Interest rateNot published on the PM-Vidyalaxmi page or its linked current retail-interest-rate page; eligible borrowers may separately receive 3% or full interest subvention during the moratorium.Maximum financeNeed-based finance linked to total eligible education expenses; no universal maximum loan amount is published. Government guarantee applies to loan amounts up to ₹7.5 lakh and full subvention can apply to loans up to ₹10 lakh under the stated income/course conditions.TenureMoratorium is course period plus one year; repayment up to 180 EMIs (15 years), excluding moratorium.
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Quick eligibility check

Bank of Maharashtra -Vidyalaxmi Education Loan

0 of 8 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Does your annual income meet this requirement: Interest-subvention bands use annual family income: up to ₹4.5 lakh and above ₹4.5 lakh to ₹8 lakh?

Published source: Income / subvention eligibility

2Do you meet this requirement: Admission must be through the eligible route to a listed QHEI?

3Do you meet this requirement: management-quota education loans are excluded?

4Do you meet this product condition: Parent/guardian is normally joint co-borrower despite no collateral security?

5Document checkDo you have this required document or proof: Entrance result/admission letter?

Published source: Income / subvention eligibility

6Document checkDo you have this required document or proof: Qualifying marksheets and course/fee schedule?

Published source: Income / subvention eligibility

7Document checkDo you have this required document or proof: Student and co-borrower KYC, PAN and Aadhaar?

Published source: Income / subvention eligibility

8Document checkDo you have this required document or proof: Family-income certificate and relevant caste/disability evidence for applicable benefits?

Published source: Income / subvention eligibility
0 of 8 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 31 Aug 2026 · active
Offered byBank of Maharashtra

India; listed QHEIs

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Loan typeNeed-based collateral-free education loan for eligible courses at listed quality higher-education institutions.View source
The page identifies the special product, 860 institutions and no-collateral route.
Source
-Vidyalaxmi Education Loan Scheme
Page / section
Objective; Eligibility; Security
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Interest rateNot published on the PM-Vidyalaxmi page or its linked current retail-interest-rate page; eligible borrowers may separately receive 3% or full interest subvention during the moratorium.View source
The linked current rate page has no -Vidyalaxmi rate row; the scheme page publishes only subvention bands.
Source
-Vidyalaxmi - complete rate review
Page / section
Rate link followed to complete Retail Interest Rates page; Interest subvention
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
BenchmarkNot published for PM-Vidyalaxmi on the product page or linked current retail-rate page.View source
No -Vidyalaxmi benchmark or spread appears on the linked page.
Source
Retail Interest Rates - -Vidyalaxmi review
Page / section
Complete current page review
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
APRNot published on the product page, linked current rate page or service-charge PDF.View source
No percentage or calculation is provided.
Source
-Vidyalaxmi - complete review
Page / section
Complete product, rate and fee review
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Income / subvention eligibilityNo minimum income for the loan is published. Interest-subvention bands use annual family income: up to ₹4.5 lakh and above ₹4.5 lakh to ₹8 lakh.View source
The page uses family income only to determine subvention benefits.
Source
-Vidyalaxmi Education Loan Scheme
Page / section
Interest subvention table
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Maximum financeNeed-based finance linked to total eligible education expenses; no universal maximum loan amount is published. Government guarantee applies to loan amounts up to ₹7.5 lakh and full subvention can apply to loans up to ₹10 lakh under the stated income/course conditions.View source
The table states need-based finance rather than a maximum; separate programme caps are preserved without mislabelling them as the loan maximum.
Source
-Vidyalaxmi Education Loan Scheme
Page / section
Quantum of Finance; scheme contours
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
TenureMoratorium is course period plus one year; repayment up to 180 EMIs (15 years), excluding moratorium.View source
The page publishes both course-plus-one-year moratorium and 180- repayment.
Source
-Vidyalaxmi Education Loan Scheme
Page / section
Moratorium; Repayment
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
ChargesNo processing or upfront charge. Account handling 0.20% of loan amount, minimum ₹500. Vidya Laxmi enrolment charge ₹200 in the current PDF (the page displays ₹100 + GST and notes it is subject to change); excluding GST where applicable.View source
The confirms no processing fee, 0.20% account handling with ₹500 minimum and the newer ₹200 enrolment charge.
Source
-Vidyalaxmi page and Service Charges
Page / section
Product charges; pages 73, 75 and 76
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Prepayment chargeNil.View source
The official page states no prepayment charges.
Source
-Vidyalaxmi Education Loan Scheme
Page / section
Charges
Accessed
31 Aug 2026
Confidence
high
Open official source ↗

Benefits and features

  • Collateral-free and guarantor-free scheme route
  • Need-based finance for eligible education expenses
  • Nil margin up to ₹4 lakh and 5% above ₹4 lakh
  • Repayment up to 180 after course plus one-year moratorium
  • 3% or full moratorium-period interest subvention for eligible family-income/course bands
  • 75% Government credit guarantee for loans up to ₹7.5 lakh

Eligibility

  • Admission must be through the eligible route to a listed QHEI; management-quota education loans are excluded. Parent/guardian is normally joint co-borrower despite no collateral security.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

  • Entrance result/admission letter
  • Qualifying marksheets and course/fee schedule
  • Student and co-borrower , and Aadhaar
  • Family-income certificate and relevant caste/disability evidence for applicable benefits
  • Bank statements and co-borrower income evidence
  • Any institution or portal documents required by the scheme

Related official documents

PM-Vidyalaxmi Education Loan Schemeofficial-product-page · current · accessed 31 Aug 2026
↗
Retail Interest Rates - complete remaining-loan reviewofficial-rate-table · current · accessed 31 Aug 2026
↗
Bank of Maharashtra Service Charges - Liabilities Portfolioofficial-pdf · current · accessed 31 Aug 2026
↗

Plan before applying

Try the numbers

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Try your numbers

Loan repayment estimate

See what the loan could cost each month. Move any slider to try a different amount, rate or repayment time.

One monthly payment₹21,696twenty-one thousand six hundred ninety-six rupees
Interest paid over the full loan₹27,06,939twenty-seven lakh six thousand nine hundred thirty-nine rupees
Everything you repay₹52,06,939fifty-two lakh six thousand nine hundred thirty-nine rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

Use the published table

Find the exact published value

Choose a table, then pick its row and column. This shows the exact entry published by the bank or insurer without making you scan every cell.

Nationality · Published termIndian national including ; published /overseas-birth repatriation cases

This value is copied from -Vidyalaxmi - complete published scheme table. Check the table notes before relying on it.

Source: -Vidyalaxmi Education Loan Scheme · Complete scheme and subvention tables Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 12 rows · 2 columnsPM-Vidyalaxmi - complete published scheme tableView tableHide table

Scroll sideways to view every column

PM-Vidyalaxmi - complete published scheme table
ParameterPublished term
NationalityIndian national including ; published /overseas-birth repatriation cases
AdmissionEligible higher-education course at one of 860 listed QHEIs; management quota excluded
CoursesGraduation, postgraduate degree and diploma courses offered by listed QHEIs
ExpensesCollege/hostel, examination/library/lab, insurance, eligible deposits, books/equipment/uniforms, computer and other course-completion expenses
QuantumNeed-based finance linked to eligible education expenses
MarginNil up to ₹4 lakh; 5% above ₹4 lakh; scholarship/assistantship may count
SecurityParent/guardian joint co-borrower; no collateral security
MoratoriumCourse period plus one year
RepaymentUp to 180 after moratorium
ChargesNo processing/upfront fee; account handling 0.20%, min ₹500; enrolment ₹200; no prepayment fee
SubventionUp to ₹4.5 lakh family income: full for eligible technical/professional route or 3% other route; ₹4.5-₹8 lakh: 3%
Guarantee75% Government guarantee for loan amount up to ₹7.5 lakh
-Vidyalaxmi Education Loan Scheme · Complete scheme and subvention tables · accessed 31 Aug 2026Open official source ↗
Table 2 · 6 rows · 4 columnsBank of Maharashtra current retail-credit charge rows used in this batchView tableHide table

Scroll sideways to view every column

Bank of Maharashtra current retail-credit charge rows used in this batch
ProductProcessing feeAccount handlingOther / prepayment
Housing/Flexi/ (non-green)0.25%, max ₹25,0000.10%, ₹500-₹11,000Nil prepayment for floating non-business individual loan
Housing Top-Up0.50%, ₹500-₹50,0000.10%, ₹500-₹11,000Product page: no prepayment penalty
Loan Against Property1%, ₹1,000-₹50,0000.10%, ₹500-₹11,000Nil prepayment for floating non-business individual loan
Maha Adhaar0.50%, ₹500-₹5,000; staff pensioner nil0.20%, ₹1,500-₹10,500Nil prepayment for floating non-business individual loan
-VidyalaxmiNo processing/upfront charge0.20%, min ₹500₹200 enrolment in current ; nil prepayment
Maha Super Green CarNilNilNil prepayment/pre-closure/part-payment
Service Charges - Liabilities Portfolio · pages 12 and 72-76 · accessed 31 Aug 2026Open official source ↗

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