Education Loan



Education Loan is extended to students or sponsor of the student to enroll for higher study abroad or within Nepal.
  • Financing Amount:  Up to NPR 4 million or 60% of the Fair Market Value of the collateral security as valued by the Bank’s approved value whichever is lower.
  • Financing ratio:
    •  Up to 90 percent of the cost of education including traveling cost (for abroad) and accommodation (for abroad).
    •  Up to 90 percent of the cost of tuition fee for study within Nepal
  • Tenure: Maximum up to 8 years.
  • Repayment Method:  EMI.
  • Interest rate: Link

DOCUMENTS REQUIRED FOR APPROVAL
  1. Loan application form filled by the applicant and co-signed by both parents/guarantors.
  2. Know Your Customer/Multi banking Declaration/ Net worth Declaration.
  3. PAN where applicable.
  4. Copy of academic certificates of the student (applicant).
  5. Relationship Certificate/Marriage Certificate (In case of married student).
  6. Offer letter from the institution signifying secured admission to the student.
  7. Detailed address (with diagram) of the residence of parents/guarantor and student.
  8. One photograph of the parents/guarantor and two photographs of the student.
  9. Citizenship Certificate of the student/ parents/guarantors.
  10. Net worth statement of applicant/guarantor/sponsor, as applicable.
  11. Details of the security being offered as collateral.
  12. Income statement or cash flow details of the applicant/ parents/ guarantors (where applicable).
  13. Credit Information report.
  14. Disbursement letter of the customer.
  15. All copy of documents is to be original signed and verified by Bank’s official.
SECURITY DOCUMENTATION DETAILS
  1. Loan offer letter and repayment schedule duly signed by the borrower/guarantors.
  2. Internal Loan Deed.
  3. Registered Mortgage/ Re-mortgage Deed over Land or Land & Building as applicable.
  4. Cross collateral/Internal deed, as applicable.
  5. Personal or joint guarantee of the parents/ guarantor/ sponsors.
  6. Consent of legal heirs of security as applicable.
  7. Blank endorsement in case of government security.
  8. Other security documents stated in credit approval terms.
  9. Valuation report of land or land & building offered as collateral.
 







 
 
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