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Education Loans

To part finance students (tuition fee, living expenses & travelling expenses), with the support of Parents or any other guarantor from one house family members.

Eligibility Criteria

  • Student (Applicant)
    • Should be a Nepali National.
    • Should have received offer letter of admission from the institute.
  • Parents / Guarantor/s
    • Should have a permanent residential address.
    • The guarantor should be from one house family member.
  • Eligibility in terms of Income of the Students / Parents / Guarantors
    • Salaried individuals
    • Self-employed professionals
    • Self-employed businessmen
    • Any other individual having identified source of income e.g. lease, business, pension etc.
  • Eligible Courses
    • Studies in Nepal:
      • Professional courses: MBBS, BDS, Engineering, Veterinary, Management, Computer and Technology, Professional Accounting / Finance related courses such as CA, ICWA and CFA.
      • Post Graduation Courses: Masters, M. Phil and PhD.
  • Studies Abroad
    • Graduation/Post Graduation level studies related to professional and technical courses.
    • Diploma studies related to professional and technical courses.
    • Certificate Level Courses.
    • Language courses.
    • Training courses such as pilot.
  • Eligible Expenses
    • Fees payable to the institute/hostel.
    • Examination / Library / Laboratory Fee.
    • Purchase of books / equipment / instruments.
    • Caution deposit/ building fund / refundable deposit.
    • Travel expenses/ passage money for studies abroad.
    • Purchase of computers-essential for completion of the course.

Age Criteria

  • Minimum age of the applicant - 16 years
  • Maximum age of the applicant - 50 Years.

Loan Amount

  • Minimum loan amount - NPR 150,000/- (Nepalese rupees one hundred fifty thousand only).
  • Maximum loan amount - NPR 10,000,000/- (Nepalese rupees ten million only).
  • Financing %:
    • Maximum of 90% of institute/hostel expenses. In case of MBBS/MD courses in Nepal loan amount is allowed up to 100% of the total tuition fees only. However this should not exceed 90% of the total cost of the MBBS/MD program.
    • In addition, not exceeding NPR 1,000,000/- for other expenses such as airfare, computer and other incidental.

Tenure

Maximum 10 years (Exclusive of moratorium period of 12 months).

Repayment

Equated Monthly Installments (EMI) over approved loan tenure.

Basic Documentation

  • Loan Application form duly filled by the applicant and co-signed by both parents/guarantor.
  • Copy of academic certificates of the student (applicant).
  • Offer letter of admission from the institution. In case of admission of new session under MBBS /MD courses in Nepal, eligible student should submit eligible documents for appearance in the entrance exam. If institutions requires offer letter of approved loan facility from the Bank before securing admission, the letter signifying secured admission should be obtained prior disbursal.
  • Detailed address (with diagram) of the residence of the parents / guarantor and student.
  • One photograph of the parents / guarantor and two photographs of the student.
  • Citizenship Certificate of the student / parents / guarantors.
  • Net worth statement of applicant/guarantor/sponsor, as applicable.
  • Details of the security being offered as collateral.
  • Title Deed, four boundary certificate, trace map, revenue receipt of land or land and building offered as collateral. In case of loan for against building as a security within Municipality, documents certifying fulfillment of required standards set by the competent authority such as Naksapass, approval from concerned authorities, building construction completion certificate should be obtained.
  • Income statement or cash flow details of the applicant/ parents/guarantor (where applicable):
    • In case of salaried individuals
      • Certification of salary or salary statement, tax paid receipt from the employing organization/company.
      • Bank statements, as applicable.
    • In case of self-employed professionals
      • Registration document from concerned professional association/council.
      • Detail of income source/ profession.
      • Bank Statement, as applicable.
    •  
    • In case of self-employed businessman
      • Business Registration Document.
      • Income Tax Certificate.
      • Latest Audited Financial Statement
      • Bank Statement, as applicable.
    • In case of other sources
      • Latest lease payment receipt or agreements, title deed of property, as applicable.
      • Details of other lease income.
      • Pension slip, interest received statement etc.
      • Bank statements, as applicable.
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