Major government banks of the country Punjab National Bank (PNB) On Tuesday PM Vidyalakshmi Yojana Education loan received under 20 basis point cut in interest rate has announced. According to the bank, now education loan rates after amendment Will start from 7.5%Which will be decided according to the quality and category of the institute.

Now bail and guarantee will get a loan up to ₹ 7.5 lakh

The purpose of the scheme approved under NEP 2020 – Higher education reaches every qualified student

PM Vidyalakshmi YojanaWhom National Education Policy (NEP) 2020 The purpose of the cabinet approval was received in November last year, that is No meritorious students are deprived of higher education due to financial shortage.

Students under this scheme Loans up to ₹ 7.5 lakh without bail and guarantee Can get If a student is unable to repay this loan, then the government 75% amount of insurance coverage of payment Will give

More than 860 reputed institutions were involved

Top 100 and top government institutions in NIRF rankings received recognition

Under the purview of the plan More than 860 quality Higher Education Institutions (QHEIS) Has been included. These include institutions that National institutional ranking framework (nirf) In the top 100 in the overall, category or particular rankings.

as well as, State Government -run institutions which are between 101 and 200 in rankingsAnd all Central institute Also included in the scheme.

Those with annual income up to ₹ 8 lakh will get 3% interest subsidy

One lakh students will get the benefit of subsidy every year, applicable only till Mortorium period

Students whose students The annual income of the family is up to ₹ 8 lakhs And they are not taking advantage of any other scholarship, on loans up to ₹ 10 lakh Morratorium period During 3% interest subsidy Will be given Ministry of Education said that it One lakh students will get help every year.