Indian students can secure up to ₹7.5 Lakhs in education loans without collateral or third-party guarantors under the Credit Guarantee Fund for Education Loans (CGFSEL).
The Vidya Lakshmi Single-Window Portal
Vidya Lakshmi (vidyalakshmi.co.in) is the official government platform developed under the Ministry of Finance to streamline student loan access.
Students complete a single Common Educational Loan Application Form (CELAF) and apply simultaneously to up to three public and private commercial banks.
Comparative Data Benchmark
| Loan Quantum | Collateral Requirement | Third-Party Guarantor | Margin Money |
|---|---|---|---|
| Up to ₹4 Lakhs | Nil (Zero Collateral) | Parent / Guardian Co-Borrower | Nil (100% Financed) |
| ₹4 Lakhs to ₹7.5 Lakhs | Nil (CGFSEL Covered) | Suitable Third-Party Guarantor | 5% for Studies in India (15% Abroad) |
| Above ₹7.5 Lakhs | Tangible Collateral Required (Property/FD) | Parent / Guardian Co-Borrower | 5% - 15% Variable |