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Maximum loan amount : Rs 80.00 Lacs*
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Student Eligibility
- Should be a Nepalese citizen.
- The student should have at least intermediate/higher secondary level (plus two) academic qualification.
- The student’s parents/guardian should have sufficient regular income to service interest. Their uncommitted monthly income should be should be at least 1.33 times of monthly interest.
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Eligible Courses
- Graduate / Masters and above
- Professional courses (graduate and above)
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Expenses considered
- Fees payable to College /Hostel (Admission fee, tuition fee, examination fee, laboratory fee, library fee)
- Purchase of books, equipments, instruments required for the course
- Cost of passage (for studies abroad)
- Boarding and lodging expenses (Recognized hostels by the institution)
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Pricing
- Processing fee:
0.75% of the loan amount . - Prepayment Charge:
0.15% of prepaid amount. Nil if loan amount is up to Rs. 50.00 lacs and loan prepaid due to change in interest rate or sanctioned terms - Commitement Fee:
A commitment fee at the rate of 0.15% of unutilized loan shall be charged. - CIC Report Fee:
Rs 250.00 flat for report with no transaction details per person.
Rs 550.00 flat for report with transaction details per person.
- Processing fee:
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Repayment Programme
- Moratorium :
A maximum period of 5 years or 3 months after the completion of course designated, whichever is earlier. - Repayment :
The loan shall be repaid in 15 years after the moratorium period on EMI basis. - Interest during moratorium period :
The parents/guardian of the student shall pay the interest during the moratorium period on monthly basis as per Nepali calendar.
- Moratorium :
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Security
- Land and building having value of at least 110.00% of loan amount.
- Loan upto 95% of Fixed Deposit/Government securities.
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Supporting Documents Required
- Duly filled Loan Application form.
- Mark sheet of last qualifying examination.
- Copies of letter conferring scholarship, if any.
- Proof of admission to the course.
- Schedule of expenses for the course.
- Two copies of recent passport size photograph of the students and their parents/guardian/guarantor.
- Copies of foreign exchange permit, where required.
- Copies of citizenship/pass port of the students and their parents/guardian/guarantor.
- Statement of regular income sources of parents/guardian, along with supporting documents where required.
- Brief statement of assets and liabilities of parents/guardian.
- Copies of ownership certificates of the proposed property to be mortgaged or Government Securities/FDRs to be pledged.
* Please contact your nearest branch for further information.