An educational loan is provided to the student or the sponsor of the student for higher education. Here we will be discussing the following topics to get an Educational loan in Nepal.
Ok, lots of questions and answers to none. Well, let us gather the answers then.
First of all, you need to identify the course or degree you want to pursue. We have gathered some important aspects you need to consider before taking a loan.
Its placement options, and the total time for completion of the course. The eligible courses to apply for an educational loan in Nepal are:
- Undergraduate/ Bachelors
- Graduate/ Masters
- Any other professional course provided by the educational institute. The Educational institute must be recognized by Nepal Government.
Its location. Does our country provide a visa to that country?
The expenses, extra tuition fees. How can you repay the loan? How will the loan's EMI affect you and your
day-to-day life?
You will need the business income or salary statement of your sponsor.
After this, we can now move forward with the eligibility criteria for the loan. The common criteria for the applicant are:
How much can you ask for an educational loan?
You can get up to Rs. 1 crores from Nepali Banks.
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The Average Fees and Charges of the Education Loan
| Interest Rate | base rate + up to 8.25% |
| Loan Amount | Up to Rs.1 Crore |
| Loan Tenure | Up to 20 years |
| Processing Fee | 0% - 2% of the loan amount |
The expenses covered by the educational loan in Nepal
(Note: The offers and expenses may vary from different banks in Nepal.)
To know more about the offers, you can click on the below-given link.
Common Documents required for Bank application:
For the detailed required documents of the educational loan from different banks in Nepal, you can click on the below given link.
There are lots of loan products in the market. Figuring out all the pros and cons of Educational loans can be difficult. SaralBankingSewa brings a website where you can compare loan and deposit products. SaralBankingSewa provides a platform to compare products from commercial and development banks.
For Guidance and Information on Banking Services, you can contact us from:
Website: saralbankingsewa.com
Viber/Whatsapp: 9801261107
You can also call us on 01-5269107
Terminologies Used:
Repayment Tenure- Time of the total loan amount to be repaid.
Collateral - Security for the bank against a loan/credit.
Road accessibility- If land/plot has a direct connection with public roads.
Tenure - total time of the loan.
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