With its esteemed universities and dynamic, multicultural atmosphere, Australia is a popular destination for Nepali students who want to continue their studies. It acts towards this goal with Global IME bank. These include education loans designed for students intending to continue their studies in Australia. Our education loan program is structured such that it provides you with the financial assistance you need to meet your educational costs and enables you to concentrate on your academic goals without being burdened by money problems. Our education loan has been formed specifically for the requirements of students who desire to benefit from Australia’s excellent educational offerings. This loan entails competitive interest rates, flexible repayment options as well as quick approval processes.
Features of the Education Loan
- Competitive Premium Rate: Enjoy low-interest rates that make repaying your loan manageable.
- Flexible Repayment Schedule: Choose between monthly (EMI) or quarterly (EQI) repayments to suit your financial situation.
- Fast Approval Process: Get your loan approved quickly, so you can focus on your preparations.
- Available Nationwide: Access the education loan facility from any of our branches across Nepal.
- Up to 80% Financing: Cover up to 80% of your education costs, including tuition, accommodation, and other expenses.
Eligibility Criteria
- Age: Nepali citizens aged 18 to 70 at the loan’s maturity.
- Employment Status: Salaried individuals or self-employed persons with a sufficient income source.
- Joint Borrowers: Parents of the student will be the primary borrowers, with the student as a joint borrower.
- Educational Pursuit: Financing available for students pursuing education abroad or within Nepal for studies above +2 level.
- Income Requirements: EMI/EQI should not exceed 50% of gross income or 80% of uncommitted income.
Security Requirements
- Mortgage: Registered mortgage of land and building.
- Guarantee: Personal guarantee from a family member or an acceptable third party.
- Insurance: Comprehensive insurance coverage for the building.
- Security Coverage: Loan up to 80% of FAC on FMV.
Proof of Income and Required Documents
- Income Proof: Salary certificate, contract agreement, rent contract, audited financial statements, or self-declared income.
- Required Documents: Loan application, current account details, family member information, passport photos, citizenship certificates, academic records, passport and visa copies, admission letters, land ownership certificates, blueprints, construction certificates, boundary disclosures, land revenue receipts, salary certificates, tax/PAN/VAT certificates, transfer deeds, coheir letters, and multiple banking declarations.
Study with ease in Australia with assistance from Global IME Bank. Visit your nearest branch to know more and apply today!
