!! Global Education Loan is provided to suffice financing requirement for students to pursue sound academic career. Our education loan aims to provide financing in such a way that the requirements of the students are met without any hassles. !!
- To provide education cost of the student to study abroad or within the country in or above +2 in any streams.
- The education cost includes tuition fee, admission fee, ticket expense, accommodation expense and stationary expenses.
Features and Benefits
- Competitive Interest rates: 9% to 13% p.a.
- Flexible Repayment Schedule: Monthly (EMI) or quarterly (EQI) basis.
- Fast Decision Making: Approving status within 36-48 hours upon completion of all required documents
- Quick turnover time: Up to 5 years
- Financing up to 80 % of your requirements
- Counseling to help better financing by our RMs throughout the process
- Loan processing fee: 1.50% of the loan amount
- Prepayment not allowed before 3 Months of disbursement.
- Prepayment charge: 1.00 % of the prepaid amount if payment is made within 1 year from the date of initial disbursement.
- Individual - Nepalese Citizen above 18 years up to 40 years.
- Salaried individual/ self employed persons.
- Sufficient income source to repay at the satisfaction of the Bank.
- The parents of the borrower shall be made as the borrower and student will be made as the joint borrower (where applicable)
- Financing for students who are willing to pursue further education abroad or within the country for studying +2 or above
- Maximum loan amount up to Rs. 10 million.
- EMI /EQI– 50% of gross income
- EMI /EQI– 80% of uncommitted (disposable) income
- Acceptable FAC collateral coverage.
- Security coverage requirement: 120% of Funded limit at Distress Value of the collateral offered.
- Registered mortgage of land and building having motorable road access of 10 feet width.
- Personal Guarantee of family member or third party acceptable to the Bank.
- Comprehensive insurance coverage of building
- Security coverage requirement: 120% in Distress value of the offered Fixed Assets Collateral (land and building)
- Loan application firm duly filled and signed in standard format of the Bank
- Current account of the applicant / borrower
- Name of the family members
- 2 Passport size photo of borrower and joint-borrower
- Photocopy of citizenship certificate of borrower, joint-borrower & guarantor/security holder
- Photocopy of all academic records above SLC level (transcript & character certificates)
- Photocopy of passport with visa for studying abroad except India
- Photocopy of admission confirmation letter/acceptance letter from the university/college incorporating admission fee, tuition, accommodation and others.
- Photocopy of land ownership certificate (Lalpurja) to be placed as collateral
- Photocopy of Blue Print of the land (Napi Naksha)
- Photocopy of construction completion certificate from Municipality/ VDC (Nirman Sampanna Pramanpatra) and approved drawing of the building in case a building is to be placed as collateral
- Photocopy of four Boundary Disclosure (Char Killa ) from ward office of the land and/or building to be placed as collateral
- Photocopy of latest land revenue receipt (Malpot Receipt) and tax clearance receipt of the building to be placed as collateral
- Salary Certificate/Rental Contract/Financials of business/Other contract agreements if any, of parents
- Photocopy of Tax/PAN/VAT certificate along with registration certificate (For self employed)
- Photocopy of land/housing Transfer Deed (Rajinama)
- Original letter stating coheir (Anshiyar) of the owner of the collateral from local authority (Ward)
- Other documents stipulated by the Bank from time to time
Download Education Loan Application form »
Refer to your nearest branches.