Loan Assistance
Support for Your
High Dreams
The university has set up a separate loan assistance cell to enable the students, at the time of admission, to obtain loans from banks with which the university has tie ups. Students can avail Education Loan Facility in the first year as well as in the subsequent years.
Banks inside the campus
University has different bank branches inside the campus.
Recommended Banks
Banks that have given recommendation/ proposals to extend loans to LPU student
The university will not be liable and responsible in this regards.
- Punjab National Bank
- Bank of Baroda
- State Bank of India
- Karur Vysya Bank
- HDFC Bank
- Union Bank of India
- AXIS Bank
- ICICI Bank
- Central Bank of India
- J & K Grameen Bank
- Indian Bank
- Canara Bank
- Tripura Gramin Bank
- Assam Gramin Vikash Bank
- IDBI Bank
The university will not be liable and responsible in this regards.
Financial Institutions
Agencies/ Financial Institutions that have given recommendation/ proposals to extend loans to LPU students:
However, the students, who are availing this facility and their parents, are liable for any course of deed. The responsibility for getting loan letter, sanction of loan, repayment of loan, and any other liability lie solely with the students/ parents.
The university will not be liable and responsible in this regard.
Guidelines & Resources
Documents required by banks for extending education loans
| S.No. | Documents Required for Applying for Educational Loan |
| 1 | Admission letter of the Educational Institute giving details of fee, boarding and lodging expenses. Letter confirming scholarship, if any. |
| 2 | Attested copies of documents for proof of age/date of birth and proof of residential address. |
| 3 | Passport size photo of the applicant, co-obligants and guarantors. |
| 4 | Copy of the PAN card of student and Parents Borrower |
| 5 | Copy of marksheets/degree certificates of previous academic qualifications. |
| 6 | Income proof/latest income tax return of parents/co-obligants, guarantors. (if any) |
| 7 | Details/statements of Bank accounts held by the student applicant/co-obligant(s)/guarantors (if any) for the last six months. |
| 8 | Details of collateral security alongwith valuation certificate of Govt approved valuer (if any). (In case of loan amount more than Rs: 4.00 Lacs) |
Procedure for Loan Assistance
The Students who want to apply for Educational Loan from any Bank need an offer letter from the University. The University will provide the requisite offer letter or alike document as required by the concerned bank for loan purposes, as and if deem appropriate.
All the desiring students who want a Loan letter (offer letter) need to follow the following steps:
All the desiring students who want a Loan letter (offer letter) need to follow the following steps:
- Download, print and fill the Application Form for Loan Letter
Click Here to Download
Or
The Application Form for Loan Letter can be taken from the University Campus or the Designated Camp Offices or the Admission Offices Across India
Or
To receive a copy of the application form on their email- id, the students can mail their Name and AID to studentloanassistance@lpu.co.in.
- Submit the duly filled and signed copy of the form to the University via one of the following means:
- In Person to the Student Loan Assistance Cell on the University Campus or at the Designated Admission/Camp Offices
or - By Post /Courier to the
Student Loan Assistance Cell,
Lovely Professional University,
Jalandhar-Delhi G.T. Road,
Phagwara, Punjab (INDIA) – 144411
or - By Email: Send a scanned copy of the duly filled and signed form to studentloanassistance@lpu.co.in
- In Person to the Student Loan Assistance Cell on the University Campus or at the Designated Admission/Camp Offices
Banks in India providing Educational Loans
Following are some of the premier banks of India that are providing educational loans. Click on the banks to know the details.
- Bank of Baroda
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- Federal Bank
- HDFC Bank
- IDBI Bank
- Indian Bank
- Indian OverseasBank
- Karnataka Bank
- Punjab National Bank
- State Bank of India
- UCO Bank
- Union Bank of India
- AXIS Bank
- City Union Bank
- Dhanlaxmi Bank
- Jammu and Kashmir Bank
- Karur Vysya Bank
- Kotak Mahindra Bank
- RBL Bank
- South Indian Bank
- Tamilnad Mercantile Bank Ltd
- ICICI Bank
- Assam Gramin Vikash Bank
Note:
The Hon’ble Supreme Court of India in case of Civil Appeal No. 2056 of 1999 dated 24th September, 2001 titled as "Bharathidasan University and another Vs All India Council for Technical Education and others"; has held that "Running /conducting courses and programmes in technology courses by University –prior approval of the All India Council for Technical Education (AICTE)-is not necessary –Definition of "Technical institution" under AICTE Act does not include university. AICTE is not intended to be authority either superior to or supervise and control the universities – Regulation 4 compelling university to seek and obtain prior approval of AICTE before starting any new department or course or programme in technical education are void." Click here to view the full text of the judgment.
The judgment of the Supreme Court of India cited above thus invalidates the criteria of AICTE approval prescribed by certain banks for the purpose of sanction of educational loans to the students of a university and other purposes in relation to a university. Such a requirement, hence, must be done away with.
Requisition of approval of AICTE, in case of a university, is entirely in violation of aforesaid judgment of the Hon’ble Supreme Court of India and may tantamount to contempt of Court.
The Hon’ble Supreme Court of India in case of Civil Appeal No. 2056 of 1999 dated 24th September, 2001 titled as "Bharathidasan University and another Vs All India Council for Technical Education and others"; has held that "Running /conducting courses and programmes in technology courses by University –prior approval of the All India Council for Technical Education (AICTE)-is not necessary –Definition of "Technical institution" under AICTE Act does not include university. AICTE is not intended to be authority either superior to or supervise and control the universities – Regulation 4 compelling university to seek and obtain prior approval of AICTE before starting any new department or course or programme in technical education are void." Click here to view the full text of the judgment.
The judgment of the Supreme Court of India cited above thus invalidates the criteria of AICTE approval prescribed by certain banks for the purpose of sanction of educational loans to the students of a university and other purposes in relation to a university. Such a requirement, hence, must be done away with.
Requisition of approval of AICTE, in case of a university, is entirely in violation of aforesaid judgment of the Hon’ble Supreme Court of India and may tantamount to contempt of Court.
