| Loan Name | PNB Digital Education Loan |
| Scheme | PNB Vidyalaxmi Scheme |
| Purpose | To provide a seamless, collateral-free and paperless education loan to meritorious students for higher education in approved premier institutes in India |
| Eligible Applicants | Resident Indians, NRIs and PIOs |
| Study Location | India |
| Eligible Courses | Graduation and Post-Graduation degree and diploma courses |
| Eligible Institutions | Courses offered through merit channel by 1,055 Quality Higher Education Institutions (QHEIs) |
| Existing / New Customer | Available to Existing-to-Bank and New-to-Bank customers |
| Mode of Application | Digital assisted journey through Web up to account opening |
| End-to-End Digital Journey | Available through Tablet (TAB) up to disbursement |
| Quantum of Finance | Need-based, for eligible educational expenses |
| Maximum Loan | As per the maximum loan amount specified for the respective eligible institution |
| Collateral Security | Not required |
| Margin – AAA & AA Institutes | Nil |
| Margin – A-rated / Other Institutes | Up to ₹4 lakh – Nil margin |
| Margin – A-rated / Other Institutes | Above ₹4 lakh – 5% margin |
| Repayment Period | Maximum 15 years, through Equated Monthly Instalments (EMIs) |
| Moratorium Period | Course period + 1 year |
| Processing Charges | Nil |
| Documentation Charges | Nil |
| Interest Rate | Starting from 6.85% p.a. |
| PM Vidyalaxmi Portal ID | Required |
| Academic Documents | Marksheets of all previous qualifications |
| Course Expense Details | Schedule of expenses as provided by the educational institution |
| Experience Certificate | Required if applicable |
| Admission Proof | Proof of admission to the course |
| KYC Documents | PAN and Aadhaar Card of all applicants/co-applicants |
| Key Benefit | Collateral-free and paperless digital education loan |
| Last Updated | 06 July 2026 |
