Bidya Lakshmi Loan

What is Bidya Lakshmi Loan?

"Bidya Lakshmi" aims to provide education loans for higher studies to children of Assam State Government employees. Benefits include loans up to ₹10,00,000/- at 4% interest, with subsidies for eligible candidates.

Benefit

• The State Government provides a loan of ₹5,00,000/- to ₹10,00,000/- at an interest rate of 4%. • Employees with an annual salary income exceeding ₹4,50,000/- can avail up to ₹10,00,000/- at 4% interest after State Government interest subvention. • Employees with annual income up to ₹4,50,000/- are eligible under the Credit Linked Subsidy Scheme (CLSS), with 100% subsidy during the moratorium period (course period plus one year). Post-moratorium, the effective interest rate is 4%. • Loans can be used for course fees, books, computers, educational equipment, and travel expenses (for studies abroad). • No collateral security or third-party guarantee is required for loans up to ₹10,00,000/-. • Life insurance policy option available to cover the loan amount. • Tax rebate under Section 80(E) of the Indian Income Tax Act. > Mode of Disbursement The loan amount is transferred directly to the educational institution’s account (not to the parent/student). It covers Tuition fees, books, computers, equipment, and travel (for abroad studies). The amount is disbursed in lump sum or installments, as per the institution’s fee structure. > Frequency of Disbursement Interest is charged monthly, and subsidy amounts are credited back to the individual account upon claim clearance. > Conditions for Disbursement The utilization certificate must be submitted at the end of the financial year.

Level

State — Assam

Ministry / Dept.

Finance Department

Benefit type

other

Key eligibility

> For the Parent

Last verified

18 Jun 2026

Overview

Benefits

Eligibility

• > For the Parent
• The parent should be a regular, in-service State Government Employee of Assam.
• The parent should have at least 5 years of residual pensionable service.
• The employees with annual income exceeding ₹4,50,000/- can avail up to ₹10,00,000/-.
• The employees with annual income up to ₹4,50,000/- are eligible under CLSS.
• The employee must have a salary account with check-off facility (for EMI deductions).
• The employee must be a co-borrower in the loan application. The employee’s name must be included in the loan application alongside the child (the student).
• > For the Child
• The child must be admitted to a technical/higher educational institution recognized by UGC (University Grants Commission)/ AICTE (All India Council for Technical Education)/ Government-approved colleges/universities in Assam or anywhere in India/ Premier institutions (for studies abroad).
• The child must be pursuing one of the following approved courses:
• In India: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer Science, Chartered Accountancy (CA), Cost and Management Accountancy (ICWA), Chartered Financial Analyst (CFA), Master of Computer Applications (MCA), Master of Science (MS), Graduation in professional/technical courses, Doctorate (PhD).
• Abroad: Courses conducted by premier institutions like CIMA (Chartered Institute of Management Accountants, London) or CPA (Certified Public Accountant, USA).
• The child must be a co-borrower in the loan application. The child’s name must be included in the loan application alongside the parent (government employee).

Documents Required

• ✓ To Be Submitted By The Student
• ✓ Passport Size Photograph (3 copies).
• ✓ Copy of PAN Card (Identity Proof).
• ✓ Electricity Bill/ Landline Telephone Bill Aadhar Card/ Driving License/ Passport (Address Proof).
• ✓ Mark sheets and Pass Certificates up to the last qualifying examinations (Matric onwards).
• ✓ Offer letter/Bonafide certificate from the institution.
• ✓ Prospectus of the Course and Approval copy AICTE/UGC or Governing Body for the Course.
• ✓ Detailed Fee Structure of the course on the letterhead of the institution.
• ✓ Score sheet of Entrance Tests like JEE/PMT.
• ✓ Any other documents if necessary.
• ✓ Additional Documents for Studies Abroad
• ✓ Passport.
• ✓ Unconditional Offer Letter.
• ✓ To Be Submitted By The Parent(s)
• ✓ Electricity Bill Landline Telephone Bill; Aadhar Card/ Driving License/ Passport (Address Proof).
• ✓ Copy of Bank Passbook or Bank account statement.
• ✓ Form 16/ Income Tax Return/ Income Certificate from the appropriate authority (Income Proof).

How to Apply

1. Step 1: Offline — Step 1

   The eligible employee should take a print of the prescribed format of the application form.

2. Step 2: Offline — Step 2

   In the application form, fill in all the mandatory fields and attach copies of all the mandatory documents (self-attest them, if required).

3. Step 3: Offline — Step 3

   Submit the duly filled and signed application form along with the documents, within the prescribed period (if any), to the respective Drawing and Disbursing Officer (DDO). Furnish a written undertaking for EMI deduction from salary.

4. Step 4: Offline — Step 4

   The DDO sends the application package (form, documents, and check-off letter) to the designated SBI branch in the district or civil sub-division. > Post-Application Processes

5. Step 1: Offline — Step 1

   The bank reviews the application, confirms eligibility, and approves the loan if all criteria are met. The loan amount is then disbursed directly to the educational institution.

6. Step 2: Offline — Step 2

   Once repayment begins, SBI automatically deducts the Equated Monthly Installments (EMIs) from the applicant’s salary account using the check-off facility.

FAQ

Sources & References

• Official scheme website ↗
• Application Form ↗
• List Of Premier Institutions ↗
• Designated Branches For Sanction Of Loan ↗
• View on myScheme (Government of India) ↗
• Information is summarised from official government sources. Verify all details on the official website before applying.