Education loan
Chandigarh University has set up a separate loan assistance cell to accommodate students during the admission process — online or offline — to acquire loans from university-partnered banks.
Fees
Loan Terms
At Chandigarh University, Uttar Pradesh, we believe in turning aspirations into reality. We understand that financial constraints shouldn't hinder a student's pursuit of higher education. That's why we're committed to supporting students in accessing the necessary funds.
- Collateral-free
- Up to ₹20 Lacs
- Partnered lenders
- 18
- Girl students
- 0.5% concession
- Tax relief
- Section 80E
From select banks and NBFCs
On the interest rate, at most banks
4 routes
Loan Routes
The standard route, arranged through the university's partnered banks. All expenses — hostel, transport and equipment alongside academic fees — are covered under the loan.
- Collateral-free up to ₹7.5 Lacs from most banks; up to ₹20 Lacs from select banks and NBFCs.
- For loans exceeding ₹7.5 lakh collateral is mandatory — LIC/NSC/KVP, fixed deposits with the lender, or property documents owned by the applicant or co-signer.
- A co-applicant is mandatory for all full-time courses: a parent, guardian, or spouse (if married).
- Repayment begins one year after completing the course or six months after securing a job, whichever comes first.
- Most banks offer a 0.5% concession on the interest rate for girl students.
Bank loan
The standard route, arranged through the university's partnered banks. All expenses — hostel, transport and equipment alongside academic fees — are covered under the loan.
What it means in practice
- Collateral-free up to ₹7.5 Lacs from most banks; up to ₹20 Lacs from select banks and NBFCs.
- For loans exceeding ₹7.5 lakh collateral is mandatory — LIC/NSC/KVP, fixed deposits with the lender, or property documents owned by the applicant or co-signer.
- A co-applicant is mandatory for all full-time courses: a parent, guardian, or spouse (if married).
- Repayment begins one year after completing the course or six months after securing a job, whichever comes first.
- Most banks offer a 0.5% concession on the interest rate for girl students.
PM-Vidyalaxmi scheme
The Central Sector Scheme launched by the Government of India, offering collateral-free and guarantor-free loans with a 75% credit guarantee, applied for entirely online.
What it means in practice
- Collateral-free and guarantor-free, with a 75% credit guarantee by the Government of India.
- Open to students from all income backgrounds — there is no upper income limit for loan eligibility.
- Preference to students pursuing technical and professional courses.
- Covers tuition fee, hostel, books, laptop and living expenses, disbursed as per student and institution needs.
- No payment is required at any stage on the portal or the app.
Short-term EMI services
For a temporary financial crunch rather than the whole degree: an advance-EMI plan covering semester fees and associated costs, applied for through the university's portal.
What it means in practice
- Covers semester fees, books, stationery, hostel, equipment, transportation and additional programme fees.
- A valid CIBIL score of the applicant or co-applicant is required, along with the last 6 months' bank statements.
- No collateral or security is required for the monthly fee payment plan.
- Disbursement to the institute can be processed within 24 hours once the online process is complete.
- Providers: Grayquest, Propelld and JODO.
State government schemes
Student credit card schemes run by state governments, open to students whose qualifying examinations were taken in the issuing state.
What it means in practice
- Bihar Student Credit Card Scheme — up to ₹4 lakh, 4% per annum for boys and 1% for girls, a 1-year moratorium after study and a 5–7 year repayment period. Applicable only to NAAC A+ graded universities, NIRF ranked institutions and NBA accredited institutions.
- West Bengal Student Credit Card Scheme — up to ₹10 lakh, 4% per annum with a 0.5% additional concession for girls, collateral-free and guarantee-free, with a 1-year moratorium after completion.
- Jharkhand Student Credit Card Scheme — up to ₹15 lakh at 4% simple interest per annum, collateral-free and fully guaranteed, repayable over 5–15 years including course duration, for applicants not older than 40.
Lenders
Partnered Banks and NBFCs
- HDFC Bank
- Axis Bank
- ICICI Bank
- State Bank of India
- Punjab National Bank
- IDFC FIRST Bank
- Canara Bank
- IDBI Bank
- Union Bank of India
- Punjab & Sind Bank
- Bank of India
- Indian Bank
- Bank of Maharashtra
- Aryavart Bank
- Propelld
- Avanse
- Grayquest
- JODO
Process
Application Process
Obtain your documents from the university
Log in to CUIMS, apply for loan documents, fill in the particulars and save. The documents are available to download after 24 working hours, or write to the loan cell directly.Register and apply online
Apply to multiple banks at once through PM-Vidyalaxmi, Vidya Lakshmi or JanSamarth, or through your state's student credit card portal.Submit the file at the bank branch
Take colour prints of every document, assemble the file against the checklist, and visit the branch you selected on the portal with your parents.Track the disbursement
Collect the branch's contact details for future reference and track disbursements through the portal or the PM Vidyalaxmi Digital Rupee app. The loan is disbursed in instalments directly to the university.
What to gather
Documents Required
Who qualifies
Eligibility
- Students should be Indian citizens and must have gained admission to Chandigarh University, Uttar Pradesh on a merit basis through the entrance examination or the selection procedure detailed in the prospectus.
- You must be at least 18 years old. If you are a minor, one of your parents can serve as guardian and obtain the loan in your place. Most banks set an upper age limit of 35 years.
- A co-applicant is mandatory for all full-time courses — a parent, guardian, or spouse (if married), with a stable income and a good credit history.
- A study gap of 1–3 years will not be an obstacle, provided you meet the admission eligibility criteria of the university.
- The minimum loan amount is ₹50,000, as offered by most banks. There are no charges or processing fees.
Contact
Loan Assistance Cell
Loan Assistance Cell
Chandigarh University, Uttar Pradesh
EMI services
Frequently Asked Questions
Students need to submit KYC documents like (Aadhaar, Voter ID, Driving License, or Passport), two passport-size photographs, PAN Card, academic mark sheets/certificates, and CUCET scorecard. Chandigarh University UP is India’s first AI-augmented multidisciplinary University. Admission Offer letter, Full fee structure, prospectus, and fee/registration slips. Parents or guarantors of students also need to submit KYC documents like Aadhaar, Voter ID, Driving License or Passport, two recent photographs, PAN card, last one year active bank statement and income proof like Income Tax Returns (ITR) / Form No. 16/16A / Salary Slip, Form J or Income Proof issued by a Magistrate/Tehsildar.
The applicants should be Indian Citizens and should take admission in Chandigarh University, Uttar Pradesh through the merit-based selection process or CUCET entrance test. The student must be at least 18 years old; If a minor, one of your parents can serve as your guardian and obtain the loan in your place. Most banks set an upper age limit of 35 years, and loans are not granted if the applicant exceeds this age. Family income, course, and the co-applicant’s financial profile also affect loan approval.
Yes, most of the banks provide education loans without any collateral up to ₹7.5 lakh. Eligible and approved students can avail of the collateral-free digital study loan up to ₹20 lakh from selected banks and NBFCs. Banks usually ask for collateral for loans above ₹7.5 lakh.
Students have to collect the required loan documents from Chandigarh University through CUIMS or the Loan Department. They can then register on CUIMS and apply to one or more banks. After selecting a bank, students must submit the complete loan file at the bank branch with their parents. The university’s Loan Assistance Cell supports students during both online and offline admission processes.
Chandigarh University Uttar Pradesh helps students through the education loan process with a dedicated Loan Assistance Cell. This university in such cases provides students with access to admission letters, fee structures, prospectuses, and other university-related documents required by banks through the Loan Assistance Cell. Moreover, this Assistance Cell assists students during online and offline admissions and connects them with university-partnered banks. It also helps students understand documentation, application steps, and loan-related formalities.
It includes tuition/academic fees, examination fees, hostel charges, transport fees, books, stationery, laptops, equipment, and other approved academic expenses. Chandigarh University, Uttar Pradesh, education loan expenses depend on the fee structure and the sanctioned loan amount by the bank. Hostel, academic, and transport fees are normally paid directly to the university. Moreover, other expenses may be released to the student as per bank policy.
Most banks offer collateral-free loans up to ₹7.5 lakh. However, some banks and NBFC partners associated with Chandigarh University Uttar Pradesh offer students digital study loans up to ₹20 lakh without collateral based on the student's profile and lender terms. For larger amounts, collateral may be required. The final approved amount will depend upon the course fee, hostel/transport expenses, and bank approval.
The interest rate depends on the loan amount, the selected bank, and the specific education-loan scheme. It also varies according to RBI guidelines applicable at the time of loan approval. Girl students may receive a 0.5% interest concession from many banks. Paying interest during the moratorium period may also help reduce the applicable interest rate by around 1%, as per the bank’s terms.
Yes, a co-applicant is needed for full-time courses. Parents, guardians, or a spouse (if married) can be co-borrowers. The co-applicant must have a stable income and a good credit history, which increases the chances of getting the loan approved. Education loans are generally secured by a guarantor, but some banks or schemes may not require the same for eligible candidates.
The average repayment period is approximately 10-15 years from the date of course completion, depending on the bank and loan amount. One can usually start to repay it one year after finishing the course, or six months after you start work – whichever is sooner. This initial period is called the moratorium or holiday period. During this period, the interest accrued can be added to the principal for EMI calculation.
PM-Vidyalaxmi is a Government of India education loan scheme that provides students with a collateral-free and guarantor-free education loan up to ₹7.5 lakh with a 75% credit guarantee. After collecting the required documents for such an educational loan, students of Uttar Pradesh’s Chandigarh University can apply for it through the PM-Vidyalaxmi portal. They must then submit documents to the linked bank and track disbursement through the PM-Vidyalaxmi Digital Rupee App. No payment is required at any stage on the portal or app.
Yes. Under the PM-Vidyalaxmi scheme, any eligible meritorious student can get education loans up to ₹7.5 lakh without collateral and a guarantor. This government scheme is open to students from all income backgrounds, with an open preference for technical and professional courses. The scheme never fails to cover tuition, hostel, books, laptops, and living expenses as per student and institutional needs.
