Bank of Baroda Launches Game-Changing PM-Vidyalaxmi Scheme for Aspiring Students

Bank of Baroda has launched the PM-Vidyalaxmi Scheme, a government initiative offering financial support for higher education. The scheme enables merit-based students to obtain collateral-free and guarantor-free loans, utilizing a fully digital process. With extensive branch support, the bank advances education access nationwide.

On Thursday, Bank of Baroda announced the launch of the new Pradhan Mantri Vidyalaxmi (PM-Vidyalaxmi) Scheme, a significant step aimed at providing financial support to meritorious students across India.

This initiative by the central government ensures that students can pursue higher education without financial constraints. Applicants can digitally apply for education loans through the PM-Vidyalaxmi portal with support from Bank of Baroda's extensive network.

The bank has set up 12 dedicated Education Loan Sanctioning Cells and 119 Retail Assets Processing Cells, ensuring that the needs of students from across the country are met. The process is seamless and fully digital, making education loans more accessible and affordable.

(With inputs from agencies.)