Education Loan

Purpose Advances to pursue higher education in Nepal as well as abroad.
The finance covers :

  • Admission Fee
  • Books and stationery
  • Instruments required for the course undertaken by the borrowing scholar
  • Monthly fees/Tuition fees
  • Examination Fees
  • Caution deposit/building fund/refundable deposit supported by Institution bills/receipts
  • Any other expenses required completing the course like study tours, project work, thesis etc.
  • Boarding and lodging expenses in recognized Boarding Houses/Private accommodations.*

*In case of private accommodations, the reimbursement may be allowed to students up to prevailing charges of recognized Boarding Houses in the area.

Eligibility
  • Nepali Citizens (16-30 yrs)
  • For masters and higher studies: 35 yrs
  • At least 50.00% marks to be in secured in last qualifying
  • Regular source of income of parents
Limit
  • Need Based
  • The amount of loan shall be co-related to the expenses involved in taking up the course by student and the expected earnings after qualifying
Disbursement
  • Loan shall be disbursed as term loan
  • Year-wise limit shall be set up based on total expenses involved in completing the course within the overall limit and disbursement made accordingly
Margin
  • Nil
Security
  • Collateral security/FD equivalent to 100 percent of the loan amount acceptable to the Bank
Interest rate
  • Competitive rate
Repayment
  • The interest shall be regularly paid on monthly/quarterly basis.
  • Repayment shall start one year after the completion of study or one-month after getting employment whichever is earlier in maximum 84 equal monthly installments (7 years)

“Sanjivani” Education Loan Scheme to Medical Students for MBBS/BDS studies in Nepal

Purpose Advances to pursue medical studies- MBBS/BDS in Nepal.
The finance covers :

  • Admission Fee
  • Books and stationery
  • Instruments required for the course undertaken by the borrowing scholar
  • Monthly fees/Tuition fees
  • Examination Fees
  • Caution deposit/building fund/refundable deposit supported by Institution bills/receipts
  • Any other expenses required completing the course like study tours, project work, thesis etc.
  • Boarding and lodging expenses

*In case of private accommodations, the reimbursement may be allowed to students up to prevailing charges of recognized Boarding Houses in the area.

Eligibility
  • Nepali Citizens (18-30 yrs)
  • At least 55.00% marks to be in secured in last qualifying examination from recognized by HSEB/ University in Nepal
  • Regular source of income of parents/ guardian (Income to be minimum of 200% of the interest amount.
Limit
  • Maximum Rs. 35.00 Lac for fees and all other costs (includes fees, books, instruments and all other expenses)
Margin
  • 10.00%
Interest
  • Competitive rate
Repayment
  • Repayment shall start one year after the completion of study by the borrower or one-month after getting employment whichever is earlier.
  • The interest shall be regularly paid on quarterly basis.
  • After the completion of the normal time of the course, the principal shall be payable in maximum 72 equal monthly installments.
Disbursement
  • A lump sum disbursement of up to 90% of the total fees shall be made to the concerned colleges or upon production of receipt of fees paid by the students/ guardian or on installment basis as per the fee payment structure of the college/institution.
  • Also, re-imbursement shall be made with confirmation from the college and letter of receipt of fees within 3 months of payment.
Security
  • Collateral security equivalent to 100 percent of the loan amount acceptable to the
  • Bank FD covering 100% of the loan amount is also acceptable.
Insurance
  • Term Insurance policy for 12 years (non-endowment policy) for the loan amount in the name of the borrower students to be taken.


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