Our Education Loan Plus Scheme seeks to extend financial assistance to parents of deserving/ meritorious students for pursuing higher education in Nepal or abroad.

Features:

• 1. Loan in the name of parents.
  2. Loan up to Rs. 150.00 lacs.
  3. Loan up to 100% of Distress Value of Land and Building and 105% of Fixed Deposit.
  4. Flexible Repayment period up to 20 years.
  5. Moratorium period up to 5 years or 6 months after the completion of course designated, whichever is earlier where borrower have to pay only interest.
  6. Competitive Interest Rate.
  7. Easy and Quick Processing.

Terms and Conditions

• 1. Monthly Interest (Equated Monthly Installment) should not exceed 50% of borrower’s gross income supported by tax receipts and bank’s statement.  
  2. The properties offered as collateral should be accessible by public motorable road of at least 8 feet wide and properties located at highly commercial areas of Kathmandu valley (Kathmandu, Bhaktapur and Lalitpur) having minimum road access of 4 feet wide can also be considered.
  3. Comprehensive Insurance policy covering market value of the building (in case of existence of building) to be submitted.

Eligible Courses

• 1. Diploma/Graduate/Masters and above
  2. Professional/Vocational Courses

Expenses considered

• 1. Fees payable to College /Hostel (Admission fee, tuition fee, examination fee, laboratory fee, library fee, OSHC (Overseas Student Health Cover) and others, if any)
  2. Purchase of books, equipments, instruments required for the course
  3. Cost of passage (cost of journey for studies abroad) for both student and dependent in case he/she is accompanying the student.
  4. Boarding and lodging expenses (Recognized hostels by the institution) and living expenses for both student and dependent in case he/she is accompanying the student.

Documents Required

• 1. Duly filled Loan Application form.
  2. Mark sheet of last qualifying examination.
  3. Copies of letter conferring scholarship, if any.
  4. Proof of admission to the course/Offer Letter from concerned college/university.
  5. Schedule of expenses for the course.
  6. Two copies of recent passport size photograph of the students and their parents/guardian/guarantor.
  7. Copies of foreign exchange permit, where required.
  8. Copies of citizenship/National Identification Document/Passport of the students and their parents/guardian/guarantor.
  9. Statement of regular income sources of parents/guardian and other supporting documents where required
  10. Tax Clearance/paid/filed certificate, wherever applicable.
  11. PAN of borrower/guarantor, wherever applicable.
  12. Brief statement of assets and liabilities of parents/guardian.
  13. Copies of ownership certificates of the proposed property to be mortgaged or FDRs to be pledged.
  14. Original Lal Purja of the property.
  15. Original survey map (Blue Print).
  16. Latest Malpot (land revenue) payment receipt.
  17. Approved floor plan by municipality or other authority, where applicable.
  18. Construction completion in case of building.

Pricing

1. Service Charges: As per Bank’s Service Charge and Fees Schedule

For detailed information, please visit your nearest Branch.