Studying Abroad? 4 Ways to Finance Your Studies, Stay & more

Would you like to study abroad, whether at a university in California, study for a Master’s degree in Cambridge or take language courses in Spain or Portugal? Many students dream of pursuing part of their studies abroad. A new environment as well as another school on resume is likely to offer you an unforgettable experience. It also allows you to stand out when looking for a job or a first job.

But what are the means to finance your studies abroad? And if you don’t have enough money, is it possible to get a loan?

If you wish to study abroad, it is important to first list the fees and estimate the budget you will need. You need to know, for example, how much will your education and future housing cost? You must also consider food costs. For example, a sandwich in Norway is 84% more expensive than in Belgium, and a condo in California is expensive than other parts of the country.

1. The financial possibilities

Studying abroad can quickly become expensive. If you know the total cost of your trip in advance (12 to 18 months), you can still save and try to raise at least some of that amount. Once you have a good overview of all your expenses, it is important to determine how you will fund them.

Here are the different possibilities available to you:

  • Using your own funds: Can your parents help you financially to study abroad? Do you have a savings account funded through a student job or grants? Or were you employed and earning money before applying to a university? This is still the best way to pay for your stay abroad.
  • Applying for a scholarship: The only drawback is that you must meet a number of criteria and complete certain formalities before you can apply. You can apply for different scholarships at different organizations depending on the country you want to study in. There are various programs such as Fulbright Foreign Student Program, Abbey Road Summer Scholarships, Civil Society Leadership Awards and Hubert Humphrey Fellowship Program offering scholarships to International students wanting to pursue education in the United States. Do not hesitate to ask about these scholarships to find out what the conditions and methods are for obtaining them.
  • Combining studies and a job: Even if you have a reserve of money in your bank account, it may not be enough and you may need a little more money to finance your daily life abroad. You can, for example, try to get a part-time job abroad or try these work from home jobs in the free time.
  • Finally student loan: If the above options are not available to you, you may take out a student loan as a last resort.

How can you get a loan?

Before you can obtain a loan, you must meet several requirements depending on the country you live in. In addition, the bank will examine your financial situation to see if you have any (outstanding) debts and if you are able to repay this loan.

The latter can be subscribed under your own name, or that of your parents. Students who borrow under their own name must be able to demonstrate that they have the ability to repay. If you’re not sure what type of loan is best for you, check various education loan comparison tools available online.

3. How does student loan work?

There are essentially two different types of loans available for young people wanting to study abroad: installment loans and credit lines. These types of contracts are between a financial institution (for example a bank) and the student.

Credit Line Opening:

If you want to withdraw small amounts of money when and where you want, without knowing in advance exactly how much it will be, opening a credit line can be a good choice. It can take the form of a credit card with an overdraft facility or a bank card with a line of credit or an authorized overdraft on your bank account.

With this type of credit you can withdraw money when you need it, several times throughout the term of your contract and benefit from flexibility in repayment (subject to compliance with certain conditions). This credit is also revolving: the funds you have used and repaid are immediately available again. However, with the zeroing period you must repay the credit in full at least annually or once every five years.

Installment Loan:

It is an alternative to the opening of credit. Here you take out a loan for a predetermined amount and term. You will therefore have fixed monthly repayments. Installment loans are particularly suitable when you have a substantial expense to make at once (such as the college fees). So you borrow money and then repay the interest and principal monthly.

4. Repayment of your loan

A student loan usually does not have to be repaid immediately. You may even be able to wait until you finish your studies.

However, it doesn’t make sense to wait too long to repay your credit since interest starts to accrue from day one. Knowing that your professional career will only start some time after you take out the loan, it is essential to borrow only the amount you really need for your studies and to repay them as quickly as financially possible.

Education Loan for Medical Studies (MBBS, MD & others): Get Upto 75 Lakhs

In India, the cost of medical education degree like MBBS, MD, MS and others is extremely high. And there is no control by the government over such a high education cost that too for medical career which is a noble career. Although the fees in government medical college is within reach of middle class family, but not everyone gets admission due to the quota system & limited seats even if the student is meritorious. So the option left is private medical college. But in these educational institutions, the fees is extremely high. The annual tuition fees (in lakhs) are:

  • Government medical college: Between Rs. 30, 000 to 1, 00,000
  • Private medical college: Average 12 Lakhs

The above fee does not include management and NRI quota which are separately charged by private colleges. And hostel and other fees are excluded. This is very depressing especially for an intellectual middle class student and their parents to secure an admission into their preferred area of interest.

So how can deserving students interested in medical studies pursue their dream when they do not have strong financial support? The answer is education loan.

Almost every prominent bank in India offers education loan for medical study. Here’s the table showing list of prominent banks offering financing to medical students, maximum loan amount and repayment period.

Name of Financial InstitutionMax. Loan Amount Offered for study within India/AbroadMaximum repayment period in years
State Bank of IndiaAbove 7,50,000 (7.5 Lakhs & above)12
Bank of Baroda (Baroda Gyan)Rs. 25, 00,000 (25 Lakhs)NA
Canara Bank10, 00,000 (10 Lakhs)15
Axis Bank75, 00,000 (75 Lakhs)NA
Bank of India10, 00,000 (10 Lakhs)NA
HDFC CredilaNo upper limit12
HDFC Bank10, 00,000 (10 Lakhs)15
Punjab National Bank20, 00,000 (20 Lakhs)15
Andhra BankNo upper limitNA
Karnataka Bank10, 00,000 (10 Lakhs)5 to 7
Indian Bank20, 00,000 (20 Lakhs)10 to 15
Syndicate Bank20, 00,000 (20 Lakhs)NA
UCO Bank30, 00,000 (30 Lakhs)15
Allahabad Bank50, 00,000 (50 Lakhs)15
Bank of Maharashtra20, 00,000 (20 Lakhs)15
Corporation Bank20, 00,000 (20 Lakhs)15
Dena Bank25, 00,000 (25 Lakhs)15
Indian Overseas Bank40, 00,000 (40 Lakhs)5 to 7
Oriental Bank of Commerce25, 00,000 (25 Lakhs)15
Punjab & Sind Bank20, 00,000 (20 Lakhs)15
United Bank of India20, 00,000 (20 Lakhs)15
Federal Bank20, 00,000 (20 Lakhs)5 to 7
Karur Vysya Bank20, 00,000 (20 Lakhs)5 to 7

Things medical students should keep in mind before taking loan for education in India or abroad:

Fees covered: Apart from the tuition fees, there are many other expenses involved such as fees for – laboratory, library, examination, equipments, hostel, etc. Check with the bank, whether these fees are covered or not. Because when all these fees are added, the overall education cost goes up drastically.

Payback or repayment period: Always look for a loan with longer payback period. This is because if someone wishes to pursue further education after MBBS, then making repayment will be difficult, assuming there is no income after bachelors degree.

Top-up loan for higher medical studies: There are many students wanting to pursue higher education after the first course and need second loan. In such cases, ask your bank to not charge additional interest on this second loan. At the same time, extend the repayment period further.

Loan disbursement: Get clarified with the bank on the disbursement timeline and process.

Read about education loan against property.

Moratorium period: This is the period during which no repayment is required after completion of education. This should be on the higher side. Generally grace period of 6 months is provided by most of the banks. Post which your repayment starts.

Interest rate: This should be as low as possible. Your objective should be to save as much money possible. Because loan amount for medical student is anyways very high and repayment is always a herculean task. So try to save money on education loan by asking the bank to lower the interest rate. If you are a top scorer and secure admission in high rated institution, then chances of lowering the rates are high.

Check out 13 reasons why education loan get rejected.

Acceptable Collateral: If you get admission in government college, then nothing better than that. In this case, since the medical fees for the complete course would be less than Rs. 7.5 Lakh, requiring no collateral. However, if you get admitted to private college; then you might have to keep residential house/flat, non-agricultural land, FD in favor of concerned financial institution. So read the fine print on collateral very carefully.

Processing and prepayment charges: Bargain with the bank to keep these two charges NIL. Since you already have such a big amount to repay, you deserve complete freedom to not pay the charge.

Education Loan against Property: Benefits, Types, Eligibility, Cons

Higher studies have become very expensive. Because of this even merit class students have to rethink multiple times before opting for a course in abroad or within India. For students from rich families arranging money is very easy; however for a student from a poor or middle income family it becomes difficult.

And in fact many a times their dreams of pursuing higher education in their preferred colleges or universities are broken due to lack of funds. And that’s when financial aid in the form of education loan comes to help. Students can achieve their dream and once they get job either during their study or after that, repayment can be done. If you are earning in dollars/pound/AUD/CAD then post education repayment becomes much easier. You can directly apply for student loan or take a loan against property.

In this article we’ll talk about taking education loan against property.

When the loan amount is greater than Rs. 4, 00, 000 then banks will ask for collateral. This is because there is no surety of student’s income in the future. So in order to reduce the risks, banks make collateral compulsory. It is a win-win situation for both the parties, students will get attractive interest rates, and banks in return earn good profit from the interest.

What is loan against property?

It is a process of mortgaging your property with the credit lender and get money in return which can be utilized for study.

What types of properties are accepted as security?

You can keep following properties as collateral:

  • Flat
  • House
  • Bungalow
  • Non-agricultural land
  • Shop, etc.
  • Depending on the bank, other qualified properties for student loan are commercial shops and B-Khata. The only condition is that the property should have clean title and documentation should be complete.

How does education loan against property benefit?

The biggest benefits of LAP are:

  • Loan can be taken for 15 years tenure
  • EMI burden is reduced due to longer tenure
  • Traditional student loans are not approved if the course is disapproved by University Grants Commission (UGC) or All-India Council of Technical Education (AICTE). However if you get LAP, then you can use it for any course, as banks do not ask the purpose.
  • Full loan amount is disbursed in one go

Other benefits of education loan are that the loan amount can be used for:

  • Under graduation, graduation, post-graduation, vocational or certificate courses
  • College fees payment, library, and laboratory fees and others
  • Repayment tenure can be further extended. This situation can arise when a student doesn’t get job immediately after the education is over or if further study is planned.
  • Apart from fulfilling the demand of funding for studies, education loan also helps in building credit history. Timely repayment will help in achieving good CIBIL score.


Eligibility of student loan against property depends on following most important factors:

  • The market value of the property whether it is commercial or residential. If the value is higher, the loan amount will also increase.
  • Location of the property
  • Annual income of parent or working individual
  • Credit history

What happens when you don’t pay?

Defaults or late payment in education loans or any type of credit affects the credit history of both the borrower and co-borrower. Moreover bank has full rights to take complete ownership of the property which is kept as collateral. Check out Pradhan Mantri Vidya Laxmi Karyakram (PMVLK) to search for education loan providers.

Other charges involved other than interest rate:

Apart from the interest rate which is typically above 11%, following fees are also involved:

  • Loan processing
  • Documentation
  • Pre-payment
  • Part pre-payment
  • Late payment
  • Stamp duty
  • Cheque bounce
  • Cheque / SI / ECS swapping
  • Property document retention
  • Interest rate swapping
  • Account maintenance

Note that above charges vary for each bank. It is always recommended to get knowledge of all the hidden fees/charges and also go through terms and conditions in detail, since your property is at stake.

However there are few cons as well of LAP:

  • Tax benefit is not available.
  • And if you have already mortgaged your property then the same cannot be used for getting any other type of loan.
  • Credit approval timeline is lengthy and tedious. This is because bank has to verify the genuineness of the property and all the relevant documents.

10 Hidden Charges in Education Loan You Must Know

Education in India or overseas is a costly affair and abroad education continues to be in demand by Indian students and quality of education is one of the main reason for it. The most preferred destinations being USA, Australia, Germany, Singapore and few others. However with quality comes higher expense which includes various fees, travel expenses and many others. However what makes abroad education costly is the interest rate charged by the banks. Without financial support getting abroad education is next to impossible especially for students from middle class background.

However what many parents/students overlook are the various charges (which vary for each bank) apart from the interest rate whether loan is taken for pursuing studies in India or foreign country. Many times bank do not disclose these charges, so customers are at risk. Even if loan disbursement is successfully done, these charges will further put strain on your wallet.

  1. Loan processing fees: You have to pay small amount of fee to the bank to process the loan. Normally this charge is between 1%-2% of the sanctioned amount.
  2. Prepayment charges: If you wish to end your education loan earlier then the scheduled tenure then banks use to charge prepay penalty. However as per RBI’s notification, no banks will charge pre-payment penalty.
  3. Late payment: This is most common and is charged for any type of loan or credit card. Also remember that frequent late payment will hurt your CIBIL score which increases the chances of credit denial in the future. So always make sure to pay your EMI on time.
  4. Interest type conversion: If you plan to change from one loan type to another i.e. fixed to floating or vice-versa then you will have to pay small charge for this. Although in this case, you are at profit but still changing the interest of a borrower is loss making for the bank.
  5. Loan cancellation: If you cancel your education loan due to any reason then banks will charge a small fee for cancelling the fees and this is a percentage of the total sanctioned amount. Ideally this charge is less than 2% but applicable tax will further increase the pain.
  6. Stamp duty: Any type of loan processing involves various documentations and stamp duty is nothing but the duty paid to the concerned authority on different documents used in the loan process. This charge varies for each state in India.
  7. Loan rescheduling: If due to some reason you are not able to pay the monthly EMI then banks offer rescheduling option i.e. your repayment period and EMIs will be rescheduled. However there is a fee involved for this which is upto Rs. 1500.
  8. Cheque or ECS swapping: Changing the account from one repayee to another who is a co-borrower of the same loan account also carries a fee.
  9. Bouncing charges: There are many options to pay the EMI. However parents or students prefer paying through cheque/electronic clearance system or direct debit. But remember that if the payment bounces then there is a charge for the same along with tax. So before repayment, make sure to check your bank balance.
  10. Other fees charged are for getting duplicate copy of no due certificate, account statement.

In addition to the above mentioned hidden charges in education loan, it is your duty to read every terms and conditions of the loan to avoid any problem in the future.

Choosing Education Loan? 8 Tips To Consider

Pursuing higher studies has become extremely competitive and on the other hand it has become expensive too and is like an investment. Apart from your academic background the cost of education also plays a very crucial role whether you are applying for a course in India or abroad. Since it is a big profit making business for credit lending institutions, there is a tough competition amongst lenders and they use various marketing gimmicks to lure students.

So before you take education loan from any bank, have a look at important points to consider before selecting educational loan:

  1. Interest rate: This is the most important factor to be taken into consideration when applying for educational loan. A small percent difference can save you good amount of money. So always compare interest rates on educational loan with various banks and choose the cost effective one. Also check when the interest rate is reduced the same has been reflected in your account. You can now register and start searching and apply for education loan through Indian government’s official portal called as Vidya Lakshmi portal.
  2. Fees covered: Normally the loan amount offered varies depending on whether you will be pursuing education in India or abroad. Rs. 10 lac is the loan amount capped for studies in India and Rs. 20 Lac for abroad. But irrespective of the country, make sure the loan covers various fees such as hostel, library, laboratory, book purchase and others.
  3. Repayment terms and conditions: Ideally lenders assume that student will start loan repayment within 6 months of completion of the course. However there could be various reasons when a student is not able to start paying EMIs such as no campus placement, other financial obligations etc. So in such cases, check with the bank’s terms and conditions on various charges or action they can take in situations when a student is not able to make a payment.
  4. Insurance cover: Many banks mandate students to avail insurance cover for education loan which involves additional charges. So get this checked beforehand.
  5. Pre-payment charges: A good high paying job is what the student dreams for after completion of education so that they can repay the education loan as early as possible. However, if you have sufficient amount of money and want to repay the loan amount early in order to save money on the interest, then check with the bank whether pre-payment penalty is involved. If yes, then do a careful calculation on the cost effective option.
  6. Moratorium extension: There might be situations when student may not be able to repay the loan immediately after completion of the studies or even after he/she starts earning. In such situations banks apply late payment charges. So check with the bank beforehand for the option of extending moratorium period. Normally repayment starts one year after the completion of study or six months after getting a job.
  7. Other charges: Apart from interest rate, there are various fees involved which are overlooked by the loan seekers and they come to know about it after they are charged. These include processing fee, prepayment and late payment charges, converting loan from floating to fixed and vice-versa.
  8. Loan closure: Finally the happiest moment, when you are about to close the loan. It simply eases off the burden. You will have to provide a written application to the bank. They will then provide you with the account statement and letter which states that the account is closed successfully and a No due certificate. But the most important thing to collect from the bank is the collateral security, if taken by the bank when applying for the loan. Also, if you are located abroad and want to close the education loan, then check with the bank whether someone on your behalf can complete the formalities with the bank. Check out education loan rejection reasons.

13 Rejection Reasons for Education Loan

Educational loan is a good business for lending institutions as cost of pursuing studies in India or abroad has risen significantly. Because of this more and more students take help of educational loan to fulfil their dream. But at the same time, to a bank, there is a risk associated with it because it is not possible to keep a track of students after they complete their studies especially those who default on the loan which increases the non-performing assets of the banks. So before approving any loan, banks scrutinize the application very minutely and then take decision to approve or deny.

Check out details on Vidya Lakshmi portal under the Pradhan Mantri Vidya Lakshmi Karyakram scheme. Through this portal student can search for educational loan and scholarships available by multiple banks.

So listed below are the reasons for rejection of education loan.

  1. CIBIL Score of Student: One of the most important factors taken into consideration by any credit lender is the CIBIL score. A good score will create no hindrance for you and chances of getting a loan of any type (education, home, car etc.) are higher. But at the same time, a poor CIBIL score will go against you and there is a higher chance of educational loan getting rejected. Lenders verify your previous repayment history in order to decide on whether to approve or reject the loan application. So if you have frequently defaulted on payment of any type of credit card or loan then be prepared for the denial. Although students who are fresh out of their college do not have any credit record but still there are students who start earning while studying and buy credit card and spend heavily and do not pay monthly bills on time. But they do not realize the fact that failure in making regular due payment is affecting their credit score. So when such students apply for educational loan for pursuing further studies then their credit score creates a road block. Read more on improving credit score in India.
  2. CIBIL Score of Parent: While taking educational loan banks also check CIBIL score of parent since they are the guarantors who will repay the education loan in case student is ineligible to pay. So as mentioned above, if your parent also has a poor CIBIL score then also educational loan can be denied.
  3. Poor academic performance: If you have got admission in a reputed college but under management quota due to poor academic performance then you may not be fit into the eligibility criteria of the bank. This is because banks assume such applicants would be non-perfomers in the future as well and may not earn enough money to repay the loan EMI.
  4. College Recognition: If you are planning for an admission in a college which is not well recognized and has poor placement record then denial chances increases. So if you get an admission into reputable institution such as IIMs, IITs, NITs and other good colleges than you have got a higher loan approval chances.
  5. Course applied for: If you apply for engineering, medicine, management and other courses from which earning potential after completion is assumed to be high then you have higher chance of getting loan approved. On the other hand, if you apply for loan for pursuing courses such as arts then you might face a rejection, as income is considered to be on a lower side after course completion.
  6. Fake documents: If you provide fraudulent documents to the banks such as marksheets, degree, college approval letter then straight away your application will get rejected. You may also bear legal consequences for your act.
  7. Type of course (Full time/part time): Most of the banks will deny the application if you apply for education loan for distance learning/part-time/correspondence course. Lending institutions ideally offer loans to students who are applying for full time course only.
  8. Loan amount: Collateral of suitable value and joint borrower are must when applying for a loan amount greater than 7.5Lacs. If you are not able to submit the same then banks will disapprove your application. This is because failure in loan repayment will force the bank to sell the security for recovering their lost money. However if the loan amount is less than 4 Lacs then there is no need to submit any kind of collateral but parent/guardian are required to be your joint borrower. For loan amount ranging from Rs. 4 – 7.5 Lacs, collateral and joint borrower is must.
  9. Income of parent: Your chances reduce when parent’s income is less. Because as mentioned above, when a student fails to repay the loan amount then banks will ask parent to repay the money.
  10. Service area of bank: If applicant’s residential address is not in the service area of the bank then also the application can be rejected. However RBI has asked banks to not consider this as a mandatory condition and not reject the educational loan.
  11. Citizenship: If you are an NRI or student from foreign country then banks will deny your application. Only Indian citizens are offered the loan.
  12. Age limit: Although this is surprising as many individuals apply for a education loan after taking industry experience but still banks many a times set a age criteria to less than 30 years.
  13. While applying for a loan, you do not have admission letter from the college.

Although not every lending institution will take into consideration each and every above mentioned and reject education loan. So always ask your bank to provide reason for denial, if it all you face it.

Now students can register on Vidya Lakshmi portal, and search and apply for educational loan and scholarships available by multiple banks. This portal is a part of Pradhan Mantri Vidya Lakshmi Karyakram scheme.

PMVLK Scheme: Benefits, Registration Process, CELAF Form

Pradhan Mantri Vidya Lakshmi Karyakram (PMVLK) was announced on the occasion of Independence Day 15th August 2015 by India’s honorable Finance Minister Shri Arun Jaitley. The objective is to make educational loan available to every student with ease, i.e. they should not face the barrier of lack of funds for pursuing education. To make this possible, online portal “” was launched.

Benefits of PMVLK Scheme:

  • It is a single window platform for the students seeking educational loan or scholarship.
  • Through this website, student can search for various educational loan and scholarship providers, make application and track the status online.
  • Loan application can be made for studying within India and abroad.
  • You can apply for any type of course i.e. under-graduation, post-graduation, professional and vocational course.

How to Register on Vidya Lakshmi Portal?

The registeration process for Pradhan Mantri Vidya Lakshmi Karyakram is very simple and requires student to fill following details by clicking on the “Register” link on the website:

  1. Full Name
  2. 10 digit mobile phone number and E-mail ID
  3. Password should be between 8-14 characters consisting of alphabets, numbers and special characters. Most importantly, E-mail and password should not match.

Once the above details are successfully added and submit button is clicked, registration successful page will open. And henceforth, student can start using the portal for educational loan search and application.

How to search for loan:

For this, you need to login and the system will open your personal dashboard. You can then search for loan by following three criteria: Location, Course, Required Loan Amount. Once you specify your requirement, list of banks will be displayed along with the name of the loan. From here, you can click on Apply button for the respective banks. The system will ask you to fill an online form (CELAF form).

Loan application process:

In order to apply for loan, student has to first fill the CELAF form.

Details required for the CELAF form:

This online application form is very long so take your time to fill. You need to enter following details of yourself (i.e student), parent/husband and co-obligant/guarantor. So make sure you keep everything handy. Refer below image of the CELAF application form:

PMVLK - Loan Application Form

  1. Personal Details: Full name, date of birth, caste category, sex, marital status, educational qualification, % of marks obtained, occupation, income from all sources, PAN number, Aadhar number, state, full address, contact number (registered mobile number).
  2. Bank Details: Bank name, branch, IFSC code, account type, account number, direct/indirect liability details.
  3. Any relationship with the bank’s chairman, director, employee and the relationship details.
  4. Course details: Whether loan application is for merit or management quota, name of institution and course, duration, date of commencement and completion.
  5. Cost of course (in INR) for each year: This includes fees for tuition, exam, stationary, equipment, hostel, sundries/travel, own source/scholarship, loan amount required, details of securities offered, repayment proposed – (i.e. how will you pay after course completion – number of installments, amount per month)
  6. Upload documents: (File limit for each is 2MB and type can be .jpeg, .png, .pdf, .tiff only): Mark sheet, proof of admission to the course, expense schedule for the course as provided by the institution, income proof, latest form-16, IT return form, copy of land records, undertaking letter in the absence of PAN/Aadhaar, photograph of applicant and parents, co-obligant or guarantor photo.

Once above six details are provided correctly, check the declaration option at the bottom and click on SUBMIT button. Your application will be then seen by respective bank and they can download the applications. The banks will then review all your application details and status will be updated on your personal dashboard of PMVLK website. If banks require more details from your side then the same will be displayed in the remarks column. Check out 13 reasons for education loan rejection.

Loan application limit: Maximum 3 banks.

Is the Vidya Lakshmi Portal system secured?

When it comes to internet, the most concerning factor is the security of your data. But the Pradhan Mantri Vidya Lakshmi Karyakram portal is https secured. So student’s details are 100% secured.

How PMVLK fares compared to the existing educational loan process:

As of now the loan process is time consuming and tedious. i.e. student and their parents have to personally visit each bank, submit documents, wait for the bank’s decision and so on. Whereas through this portal there is no need to visit banks separately. Right from searching a loan provider, making an application to banks, to getting a loan will be online (VIEW, APPLY AND TRACK). And all the details will be available on the dashboard.

List of Registered Banks providing loans under Vidya Lakshmi Scheme:

As of 12th September 2015, 20 banks have listed for providing educational loans and 34 loan schemes are available and here is the list of some of the prominent banks:

  1. State Bank of India
  2. IDBI Bank
  3. Bank of India
  4. Canara Bank
  5. Union Bank of India
  6. Allahabad Bank
  7. Bank of Maharashtra
  8. Syndicate Bank
  9. Central Bank of India
  10. Kotak Mahindra Bank
  11. Vijaya Bank
  12. Andhra Bank


  1. Portal development and management is carried out by NSDL e-Governance Infrastructure Limited.
  2. Students can also add their feedback related to any of the process, portal etc.
  3. Expectations from Pradhan Mantri Vidya Lakshmi Karyakram (PMVLK) are very high as it is a part of National Skills Development Mission.

Read about Pradhan Mantri Kaushal Vikas Yojana (PMKVY) which aims to make India a skill capital of the world.