Welcome to Ams Veltech. Vel Tech Rangarajan Dr. Sagunthala R&D Institute of Science and Technology, commonly known as Veltech University, is one of the reputed private engineering institutions in Chennai, Tamil Nadu. While the academic excellence and infrastructure of the university are well-appreciated, many aspiring students and parents often wonder: Is there an EMI or installment plan for Veltech tuition fees?
We will explore the options available for students to pay their tuition fees at Veltech through EMIs or installments and guide you on how to manage your finances smartly.
Does Veltech Offer an In-House EMI or Installment Option?
Currently, Veltech does not offer a direct EMI or installment facility through its payment portal or administration. Tuition and hostel fees are typically expected to be paid in full or on a semester-by-semester basis, as per the academic schedule.
However, students still have options to split their payments into EMIs through education loans and third-party financial partners. Let’s break down these alternatives.
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Option 1: Education Loans with EMI Repayment
One of the most common and recommended ways to pay Veltech tuition fees in installments is by opting for an education loan from a recognized bank or financial institution. Here’s how it works:
- Loan Coverage: Covers tuition fees, hostel charges, books, and other academic expenses.
- EMI Tenure: You can repay the loan in monthly EMIs over a 5–15 year period, depending on the bank.
- Moratorium Period: Most banks offer a grace period during your course duration + 6 months post-completion before EMI starts.
- Banks That Support Veltech:
- State Bank of India (SBI)
- Axis Bank
- Punjab National Bank
- Bank of Baroda
- ICICI Bank
- Credenc (fintech platform)
Example:
If your total 4-year engineering program at Veltech costs ₹6.5 lakhs, you can get an education loan and repay it in EMIs of approximately ₹7,000–₹12,000/month after graduation.
Option 2: EMI via Finance Platforms (e.g., Credenc, GrayQuest)
Several ed-fintech platforms in India now offer zero-cost or low-cost EMI options for students enrolling in private universities, such as Veltech. These platforms directly pay your fees to the university and you repay them monthly.
- Credenc: A popular loan partner for Veltech students. Offers digital application and flexible EMI tenure.
- GrayQuest: Converts hefty semester fees into small monthly EMIs (with or without interest).
- Jodo Pay: Helps parents and students pay education fees in 3–12 installments.
These platforms usually require:
- A copy of your admission letter
- Fee structure from Veltech
- Valid KYC documents of student and parent
- Income proof for EMI eligibility
Option 3: College-Affiliated Institutions (Installments on Sub-campuses)
Veltech has multiple sister institutions like:
- Veltech High Tech Dr. Rangarajan Dr. Sakunthala Engineering College
- Veltech Multi Tech Engineering College
Some of these affiliated colleges offer fee payments in easy installments for courses such as MBA, BTech, and diploma programs. These payments are often facilitated through institutional portals or partner sites, such as ChunoCollege or CollegeDekho.
Key Benefits of EMI Plans for Veltech Students
- No upfront financial pressure on families
- Access to higher education without delay due to finances
- Improved budget management during college years
- Builds a credit history for students if loans are in their name
Steps to Apply for an EMI or Installment Plan
- Get your fee structure from Veltech admissions office.
- Choose your method: education loan or finance EMI platform.
- Apply online with required documents (admission letter, ID, proof of income).
- Await approval and sign agreement with bank or finance provider.
- Start your studies while payments are managed through EMIs.
Things to Keep in Mind
- Always check the interest rate and processing fees of any EMI plan.
- Clarify moratorium periods for student loans.
- Ensure your EMI provider is RBI-approved and trustworthy.
- Some finance platforms may have late fee penalties for missed payments.
Conclusion
While Veltech does not currently provide a direct EMI or installment facility through its channels, students have multiple pathways to manage their tuition and academic expenses flexibly:
- Opt for education loans with post-graduation EMIs
- Use third-party EMI providers for monthly payments
- Explore fee installment plans via Veltech-affiliated institutions
This flexibility enables more students to pursue quality education without being held back by immediate financial challenges.