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Educational Loan

Educational Loan

Your dream of pursuing higher education has become easier with our education loan. This loan product is specifically designed for the students aspiring to pursue higher studies both abroad or in Nepal and aims to provide financing in such a way that the requirements of the students are met easily. It is a greatly flexible loan and shall cover entire expenditure form admission fee tuition fees and accommodation to logistic expenditure. Mainly this loan is eligible for Professional Courses: HA, MBBS, MD, Nursing, BDS, Engineering, Veterinary, Management, Hotel and Travel Tour Management, M.Sc., Computer and Technology related Subjects, Chartered Accountancy in Nepal and any professional courses in abroad, Post Graduation Courses: Masters, M. Phil and PhD in Nepal and any courses in abroad, Any Graduation level studies in abroad

Features and Benefits
•    Competitive interest rate and service charge
•    Prompt processing
•    Flexible loan tenure resulting in less EMI burden
•    Moratorium Period : Max. of 4 years or course duration whichever is earlier.
•    Individual - Nepalese Citizen above 18 years up to 40 years.
•    Salaried individual/ self employed persons.
•    Sufficient income source to repay at the satisfaction of the cooperative.
•    The parents of the borrower shall be made as the borrower and student will be made as the joint borrower (where applicable)
•    Financing for students who are willing to pursue further education abroad or within the country for studying +2 or above
•    Maximum loan amount up to Rs. 1.2 million.

•    Registered mortgage of land and building having motor able road access of 8 feet width.
•    Personal Guarantee of family member or third party acceptable to the cooperative.
•    Comprehensive insurance coverage of building

Documents Required
•    Loan application firm duly filled and signed in standard format of the organization.
•    Current account of the applicant / borrower
•    Name of the family members
•    2 Passport size photo of borrower and joint-borrower
•    Photocopy of citizenship certificate of borrower, joint-borrower & guarantor/security holder
•    Photocopy of all academic records above SLC level (transcript & character certificates)
•    Photocopy of passport with visa for studying abroad except India
•    Photocopy of admission confirmation letter/acceptance letter from the university/college incorporating admission fee, tuition, accommodation and others.
•    Photocopy of land ownership certificate (Lalpurja) to be placed as collateral
•    Photocopy of Blue Print of the land (Napi Naksha)
•    Photocopy of four Boundary Disclosure (Char Killa ) from ward office of the land and/or building to be placed as collateral
•    Photocopy of latest land revenue receipt (Malpot Receipt) and tax clearance receipt of the building to be placed as collateral
•    Salary Certificate/Rental Contract/Financials of business/Other contract agreements if any, of parents
•    Photocopy of Tax/PAN/VAT certificate along with registration certificate (For self employed)
•    Photocopy of land/housing Transfer Deed (Rajinama)
•    Other documents stipulated by the Cooperative from time to time