Education Loan for VIT Vellore: Top Banks, Fees
The Vellore Institute of Technology, also known as VIT, is a renowned private university in India that offers bachelor's and master's degree programs in numerous subject areas.
This blog discusses the various banks providing education loans for VIT Vellore, the maximum loan amounts, interest rates, eligibility criteria, and collateral requirements.
Education Loan for VIT Vellore Interest Rates
Vellore Institute of Technology (VIT Vellore) is one of India's leading private universities, attracting students nationwide for its engineering, management, and science programs. Given the high tuition and associated costs, many students opt for education loans from various banks and financial institutions, each offering different interest rates and terms.
NBFCs, with interest rates starting from 8.35% and going up to 14% depending on the lender and applicant profile. Students are advised to compare offers, check eligibility, and consider repayment terms before applying.
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Top Education Loan Schemes for VIT Vellore

1. Baroda Scholar Scheme: Education Loan for VIT Vellore
2. SBI Scholar Scheme Education Loan for VIT Vellore
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3. Union Bank of India: Education Loan for VIT Vellore
4. PNB: Education Loan for VIT Vellore
5. HDFC Education Loan for VIT Vellore
Also Read: Education Loan for Engineering- BTech Loan Interest Rates
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Best Courses in VIT Vellore
VIT Vellore provides various research, undergraduate, and graduate programs in engineering, science, management, and the humanities. Below are the list of courses for which you would be considering an Education Loan for VIT Vellore:
See the 2024 placement statistics of VIT Vellore here!
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VIT Vellore Fees: Cost of Studying at VIT Vellore
Although there is a flexible limit on the amount the banks can sanction for your education loan for VIT Vellore, you should be aware of the approximate costs and plan. Here is a table with the fee range of famous courses in VIT Vellore:
Note: The above costs are estimates and could change based on the student's chosen course and program.
Also Read: VIT Chennai: Fees Structure
Eligibility to Get an Education Loan for VIT Vellore
Vellore Institute of Technology (VIT Vellore) is a leading private university in India, attracting students from across the country for its undergraduate and postgraduate programs. Many students opt for education loans to fund their studies at VIT. Here’s a simple guide to the eligibility criteria for getting an education loan for VIT Vellore.
1. Nationality: The applicant must be an Indian citizen. Some banks also allow Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs), and Overseas Citizens of India (OCIs) to apply for loans for studies in India.
2. Admission Status: You must have secured admission to VIT Vellore through an entrance exam or merit-based selection process.
3. Eligible Courses: The loan is available for recognized undergraduate and postgraduate courses at VIT Vellore, including BTech, MTech, and other professional degrees.
4. Academic Performance: Most banks prefer students with a good academic record, especially for merit-based loans.
5. Co-applicant Requirement: A parent, guardian, or spouse is usually required as a co-applicant or guarantor for the loan.
6. Age Limit
While there is no strict age limit, some banks may have their own age-related conditions for applicants.
7. Collateral: Loans up to a certain amount (usually ₹4-7.5 lakh) may not require collateral. For higher loan amounts, collateral such as property or fixed deposits might be needed, unless applying under schemes like the SBI Scholar Loan which may offer higher limits without collateral for premier institutes like VIT.
8. Income Criteria: The co-applicant’s income and repayment capacity are assessed by the bank, especially for higher loan amounts.
9. Documentation: Required documents include proof of admission, academic records, identity/address proof, co-applicant’s income documents, and a list of expenses for the course.
When considering education loans for institutions like VIT Vellore, it's beneficial to explore education loan options for studying abroad, including in Canada, as they provide insights into funding structures, eligibility criteria, and loan covers for tuition and living expenses
Education Loan for VIT Vellore: Documents Required
Below is the list of documents that need to be filled out for an education loan for VIT Vellore:
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How to Apply for an Education Loan for VIT Vellore?
Are you looking to apply for an education loan for VIT Vellore? Follow these steps:

- Choose your preferred bank.
- Visit the official website.
- Click on the “Education Loans” Section.
- Fill in all the required documents and paperwork.
- A bank representative will get in touch with you for further processes.
You can also apply by going to the nearest branch of your preferred bank.
Both of these processes require a significant amount of time, tons of paperwork and complex processes.
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Education Loan for VIT Other Campuses
Apart from the main VIT campus in Vellore, students can pursue quality education at several other campuses of VIT, including Bhopal, AP (Amaravati), and Chennai. Most major public and private sector banks, as well as NBFCs, provide loans that cover tuition fees, hostel charges, and other academic expenses for students admitted to VIT’s various campuses.
Education Loan for VIT Bhopal
VIT Bhopal, located in Madhya Pradesh, is known for its tech-driven programs and innovative learning approach. Students can apply for education loans from banks like SBI, ICICI Bank, HDFC Credila, and others with competitive interest rates and flexible repayment options.
Education Loan for VIT-AP (Amaravati)
VIT-AP University in Amaravati, Andhra Pradesh, is a fast-growing campus offering programs in engineering, law, business, and more. Students here are eligible for education loans from several financial institutions, which may offer collateral-free loans for eligible applicants and faster processing through tie-ups with the university.
Education Loan for VIT Chennai
Located in Tamil Nadu, VIT Chennai is another prominent campus providing high-quality education in various disciplines. Banks and NBFCs frequently offer loans to students enrolled here, with special schemes under the Vidya Lakshmi Portal or directly through bank partnerships with VIT.
VIT also continues to expand its educational reach through newer centers and global partnerships. Students enrolled in any recognized VIT campus can typically avail loans under standard or university-specific schemes. Choosing the right education loan can make your journey at VIT smooth and financially worry-free. Here are the key benefits you should know.
Why Propelld?
Here are some more benefits of applying for a Propelld education loan for VIT Vellore:
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