Citizens Education Loan
Education is the most important investment one makes in life. Therefore, the Bank has brought the Education Loan, which aims to finance meritorious students who choose to pursue a higher education (Professional or technical) in Nepal and abroad. The loan is extended to students/ professionals desiring to pursue higher studies such as Graduation, Post-Graduation, Specialization and Vocational/Technical courses in the country or abroad. Citizens Education loan covers a maximum of 100% of expenses in connection with the studies of the borrower in the country or abroad.
| Purpose: | To finance the education cost of the students desiring to pursue higher education in Nepal or Abroad |
| Nature: | Terminating loan payable in Equal Monthly Installment |
| Loan Size: | Maximum Up to 10.00 Million |
| Tenure: | Repayment period maximum 15 years including moratorium period. |
| Loan Portion: | Up to 100% of total expenses to be incurred during the course period not exceeding 80% of the Distress Value of the mortgaged collateral security or 100% of rajinama value till claim period of 1 year and 35 days whichever is lower or 2 years and 35 days in case of transfer of ownership by Bakas Patra or 2 months 35 days in case of Anshabanda. |
Eligibility Criteria:
- Admission confirmation from respective education institution of the student.
- The parent/ guardian/ spouse of the student should have a regular source of income for repayment of installments.
- The Borrower must be at least 18 years and the age of the borrower/co borrower, i.e. the main income source holder should not exceed 75 years.