Under the Union Education Scheme – Pradhan Mantri Vidyalaxmi Scheme, students aspiring to pursue higher education at premier institutes such as the Indian Institutes of Management (IIMs), Indian Institutes of Technology (IITs), Indian Institute of Information Technology (IIITs) and National Institutes of Technology (NITs) etc can avail attractive and flexible education loans. These loans are designed to cover tuition fees, hostel expenses, books, and other academic costs, enabling meritorious students to access world-class education without financial constraints. With simplified processing, competitive interest rates, and repayment options tailored to future earning potential, Union Bank of India supports students in achieving their academic and career goals at India's top institutions.

“PM – Vidyalaxmi Scheme” (PMV), is a special Education loan scheme where in collateral-free and guarantor-free loan is provided to students to have secured admission in top 1033 QHEI through merit channel. Students of all family income groups shall be eligible to avail the benefit under the scheme.

• Annexure-I
• Annexure-C
• Annexure-6
• Annexure-7
• Annexure-8

Highlights of the scheme