Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
Eligible studyGraduation, postgraduate degree and diploma courses at Department of Higher Education-identified QHEIs in India, following open competitive or merit-based admission
Source 1Current floating rate by variantPMVL-Utkarsh 6.90%, PMVL-Uttam 7.20% and PMVL-Uday 8.40% p.a., linked to EBREffective 9 Jun 2026
Source 2Security and co-borrowerNo collateral or guarantor; co-borrower mandatory above ₹75 lakh and co-applicant mandatory for every minor student
Source 3Published borrower marginNil up to ₹4 lakh, 5% above ₹4 lakh through ₹7.50 lakh, and nil above ₹7.50 lakh
Source 4MoratoriumCourse period plus one year
Source 5Processing and prepayment chargesNil processing fee and nil prepayment charge
Source 6Published interest-subvention pathwayIncome and course dependent: 100% PM-USP CSIS for eligible technical/
Source 7Benefits and features
- Collateral-free and guarantor-free
- Rates from 6.90% p.a.
- No processing fee
- No prepayment charge
- Income-linked interest support
Eligibility
- The student must be an Indian national admitted to an eligible QHEI through merit or competitive selection.
- All income groups may borrow, but subvention has separate income and course conditions.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- Application and KYC
- Admission and academic records
- Course-expense schedule
- Income evidence for co-applicant and any subvention claim
- Asset-liability statement where applicable