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(Bank Loans can make your Dreams come true)

Studying abroad in top universities can be expensive and if you are not eligible for scholarships then you can think of the option of a bank loan. Educational Loan can help you in pursuing the course of your choice in the best overseas university. Loans are a very simple way to finance education abroad and easy to secure and also hassle free. The cost of education can be borne by the loan from a nationalized bank and leading private banks.

The good part is that the rate of interest of the loan is lower than commercial rate. Loan repayment starts 6 months after course completion. Most students repay their education loan easily with 2 years after working abroad.

With the help of this scheme students can avail Bank loans upto 15 to 20 Lac. for higher studies depending upon the banks terms & conditions

The Bank loan covers the expenses of :

1) College university fees
2) Living Expenses
3) Examination/ Library/ Laboratory Fees
4) Expenses of Books, equipment, uniform etc.
5) Caution Deposits, Refundable Deposits
6) Any other expenses required to complete the course like study tours, project work etc.

Criteria for getting Educational Loans

All Banks have different criteria and terms & conditions for repayment and educational loans.

Some of the basic are:

Eligiblity

To obtain a bank loan from Nepal a student should be an Nepalis national & should have the admission letter from a recognized college, University institution abroad for a professional / Technical course and should be aged between 16 to 35 years.

Documentation Required

Each bank has its own set of requirements but in General

1) Proof of Admission
2) Proof of Income
3) Mark sheets of last qualifying examination for school and graduate studies completed in Nepal.
4) Details of scheduled expenses during the course.
5) Any letter of scholarships.
6) Two Passport Size photographs
7) Income tax assessment for last 2 years
8) Bank statements for the last 6 months of borrower
9) Statement of assets & liabilities of the borrower.
10) Proof of Residence if not an existing Bank customer

Repayment

Holiday/ Moratorium Period – Course Period +6 months after completing the course if student gets employed within 1 year after completion of the course the repayment should start immediately after the expiry of the month from the date of employment.

Maximum Repayment period of loan & generally the loan have to be repaid in 5-7 years after commencement of repayment. If the student is not able to complete the course within the scheduled time extension of time of completion of course may be permitted for a maximum period of 2 years.

Disbursement

The loans will be disbursed in stages as per the requirement/ Demand directly to the institutions/ vendors of books/ equipments/ instruments.

All documents as per bank rule should be given. eg fees invoice, equipment invoice, etc.

Follow up

Bank can contact college university authorities to send the program report at regular intervals in respect of students who have availed loans.

Capability Certificate

Capability certificate for students going abroad for higher studies are also issued on production of financial other supporting documents

Contact us for full guidance & assistance.

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