3% interest subvention
The central government pays 3% of your interest during the moratorium period. On a ₹10 lakh loan, that is roughly ₹90,000 you never pay.
Government of India scheme
PM Vidyalaxmi: the government pays 3% of your education loan interest
A 3% interest subvention on education loans up to ₹10 lakh, plus collateral-free funding up to ₹7.5 lakh, for students at India's top 860 institutes with family income under ₹8 lakh.
What you actually get
No collateral, no guarantor
The credit guarantee replaces the security a bank would normally demand up to ₹7.5 lakh — no property papers, no third-party guarantee.
Repay after you earn
Repayment begins after the course ends plus a grace period of up to 12 months, so EMIs start when your income does.
Stacks with Section 80E
Interest you do pay stays fully deductible from taxable income for up to 8 years, with no upper limit.
Eligibility checklist
- Admission to one of India's top 860 institutes (NIRF-ranked and centrally funded institutions).
- Annual family income of ₹8 lakh or less for the 3% interest subvention.
- Loan amount up to ₹10 lakh qualifies for the interest subvention.
- Loans up to ₹7.5 lakh carry a 75% credit guarantee, so no collateral is required.
- Admission secured through a merit-based process or a recognised entrance exam.
- Applies to full-time technical, professional and degree programmes in India.
How we apply for you
Loan and subsidy filed together.
- 01
WhatsApp Us
Send us your requirement — loan type, amount, city. Takes 2 minutes.
- 02
Free Comparison
We compare rates from 5+ PSU banks and share the best options within 15 minutes.
- 03
Document Submission
Send documents on WhatsApp. We verify and submit to the bank on your behalf.
- 04
Loan Sanctioned
48-72 hour approval. Money disbursed directly to you or your dealer.
PM Vidyalaxmi questions
Scheme details are as published by the Government of India and are subject to change. NITI Financial Solutions is a loan facilitation service and not a lender; subsidy approval rests with the bank and the relevant government authority.