How To Get Education Loan In Nepal?
Supporting Documents Required
- Duly filled Loan Application form.
- Mark sheet of last qualifying examination.
- Copies of letter conferring scholarship, if any.
- Proof of admission to the course/Offer Letter from concerned college/university.
- Schedule of expenses for the course.
Meer items
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Contents
Which bank in Nepal is best for education loan?
Education Loan
| Bank/FI | Name | Interest Rate |
|---|---|---|
| NMB Bank NMB Bank | Education Loan | 10.15% – 16.15% |
| Nepal SBI Nepal SBI Bank | Education Loan | 10.22% – 16.22% |
| Laxmi Bank Laxmi Bank | Education Loans | 10.33% – 15.33% |
| Machhapuchhre Machhapuchhre Bank | Education Loan | 10.36% – 16.36% |
Can we get education loan in Nepal?
Education loan for studying abroad, Nepal is undeniably a country from which many students wish to pursue higher education around the world. They choose to study in Australia, New Zealand, Canada, the United Kingdom, and the United States. Since Nepalese students are so interested in studying abroad, education loans have become common.
- So far, the cost of education has been rising year after year around the world.
- Loans for Higher Education Before applying for admission, parents who want their children to study abroad must make specific financial arrangements.
- Many parents can put money into a savings account and provide funds or investments for their children’s education.
Despite this, students may face financial difficulties, necessitating financial aid such as an education loan to meet their needs. Thus, an education loan is beneficial in this situation, as it assists in bridging the gap between the shortfall and the necessary amount. 
The Nepalese government, banks, and other financial institutions have simplified the education loan process and offered competitive schemes to Nepalese students seeking a brighter educational future. In Nepal, numerous banks provide education loans to aspiring students.
- However, students must evaluate the study loan based on various factors, terms and conditions.
- The applicant should understand total loan cost, monthly instalments, interest rates, loan processing costs, subsidies, grace periods, term periods, loan processing times, repayment schemes, moratorium periods, etc.
As a result, students must investigate several banks and conduct studies on the application process and foreign exchange rates. Aus Studies Counsellors will facilitate you to get education loans provided by various banks. They are well informed about the education loan procedures, who can provide you a basic idea and refer you to the most suitable bank.
- University/school/hostel expenses
- Research and library usage expenses
- The costs of computers, books and other items
- Travel expenses
- Health coverage
The borrowers have to meet criteria and agree to a few conditions offered by the loan provider to benefit from education loans in Nepal. Criteria for Applicant
- The candidate must be a resident of Nepal
- The applicant must have a minimum education of 10+2
- The candidate must have Offer Letter from a college or university
- The applicant must be 18 or older years of age
- The applicant must alternatively have a security guarantee
- Parents and guarantors must have a permanent address
- The guarantor should be one member of the household
- Income as an employed or skilled self-employed person
- Income as self-employed businessman/trader/investor
Educational loan acceptance in Nepal necessitates the submission of supporting papers. The banks ask for the documents, and the list may vary according to their rules and regulations. Eligible Expenses
- Fees are payable to the institute and accommodation provider
- Library Fee/ Lab Fee / Exam Fee
- Purchase of books and equipment
- Money for travel expenses for studying abroad
- Purchase of computers
Loan Amount Usually, banks in Nepal offer a Minimum of NPR 150,000/- (Nepalese rupees one hundred fifty thousand only) to a Maximum NPR of 10,000,000/- (Nepalese rupees ten million only). But this may vary from bank to bank policy.
- Tenure
- Maximum ten years (Exclusive of moratorium period of 12 months)
- Repayment
- Equated Monthly Installments (EMI) over the loan tenure approved
- Basic Documentation
- Loan Application form of the applicant and co-signed by both parents/guarantor
- Copy of academic documents of the student (applicant)
- The student’s residence and parents/guarantor exact address
- Student and the parents/guarantor photographs
- Citizenship Certificate from student, parents and guarantors
- Detail of income source/ profession
- Bank Statement, as applicable
- Details of the security for collateral in the bank
- Four boundary certificates, a title deed, a trace map, and a revenue receipt of land or land and buildings
- In case of education loan against building as security within Municipality, documents certifying the fulfilment of required standards set by the relevant authority such as building construction completion certificate, Naksapass, approval from concerned authorities are needed.
- We will help you arrange all the required documents and communicate with the bank on your behalf as a part of our service.
- Best of luck
: Education loan for studying abroad,
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What is the procedure of education loan in Nepal?
8. Mega Bank Limited – Mega Education Loan is an easy financial solution for the students willing to pursue their higher education both abroad or in Nepal. It is a greatly flexible loan provided against the landed collateral which shall cover entire expenditure from admission fee, tuition fee, cost of stationary to logistic expenditure.
Provided with the moratorium period up to 4 years wherein the customers have an option of servicing interest only, Mega Education is a large customer-friendly loan. Interest Rate and Service Charge – Competitive Documentary Requirements: • Education loan is provided against mortgage of landed security.
Education Loan In Nepal ||| स्वदेश तथा विदेशमा उच्च शिक्षा को लागि शैक्षिक कर्जा कसरि लिने ??
Hence, all the documents prescribed for Mortgage Loan is mandatory for Education Loan. • Additionally, an offer letter from College/University incorporating course of study and the total cost is required. View Details
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How much student loan can we get in Nepal?
Features: –
| Particulars | Features |
| Facility Type | Term Loan |
| Eligibility | Minimum 18 years (at the time of application) and a maximum of 70 years at the time of maturity. |
| Loan amount | Minimum NPR 0.3 million to maximum NPR 10 million. |
| Loan Tenure | Minimum 1 year to Maximum 15 years (excluding moratorium period). The Moratorium period is optional. |
| Collateral Type | 1. Against Land only/Land and Building.2. Against Fixed Deposit placed with NIC ASIA Bank. |
| Interest Rate | To see all the bank’s competitive Interest Rate |
| Fees and Charges | To see Fees & charges rate as per bank |
| Bank Finance | Up to 100% of total cost considered by the bank but not exceeding the valuation of collateral as defined below: |
| For Land and/or Building : Maximum up to 80% of Fair Market Value depending upon derived Fair Market Value of Collateral. | |
| For Fixed Deposit: Maximum up to 90% of the principal amount of the Fixed Deposit | |
| Repayment option | Flexible repayment options, only interest to be paid during the moratorium period then only EMI will start. |
Note: All other terms and conditions shall be as guided by Bank’s policy. In addition, to the above-mentioned parameters, Bank can analyze other details too where deemed required. Some of the Specific Required Documents for processing the loan are:
Offer letter/ Fee Structure/ Acceptance letter or substantiating documents from concerned Education Institution No objection letter from Ministry of Education, in case of abroad study Copies of Citizenship Certificate and/or Passport of Borrowers and Guarantors Copy of Passport of student and dependent (if any), for abroad study Relationship certificate (where applicable) Net worth statement of Borrowers and Guarantors (where applicable) PAN Card (where applicable) Income Verification documents All related documents regarding collateral/security
*All documents need to be original signed and verified through bank’s officials. Further, the Bank can request for additional documents, where deemed necessary.
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Which bank provides educational loan in Nepal?
Nepal Bank Ltd Every parent has dream in pursuing higher education to their children at renowned collage/ universities in domestic or foreign country. Nepal bank has offered NBL education loan to fulfill the financial needs for higher education in domestic/foreign country. Loan Term The loan will be available for 10 years excluding moratorium period. Eligibility
Borrower and guarantors should be Nepalese citizen. Minimum 50% or GPA 2.5 score in intermediate or equivalent level. Individual having adequate, stable, steady and regular source of income to serve installment and interest.
Documents Required: 1. Identification Related
Personal identification of borrower and guarantors Photograph of borrower and guarantor Family details from concerned local authority. Firm registration certificate (if business income) PAN/VAT certificate (if business income) Partnership deed (if business income)
2. Collateral Related
Land ownership certificate Land revenue receipt Rajinama/Bakaspatra/Anshabanda paper etc Ward map and File map of collateral Four boundaries (charkilla) Approved house map from local authority. Nirman Sampanna/abhilekhikaran paper
3. Income Related
Salary certificate and bank statement. Appointment letter/Contract Paper. Rental agreement with tenant identification (if rent income) Rental tax receipt Pension Patta (if pension income) Audited financial statement of last year and projection of coming year (if business income) Tax clearance certificate/receipt for income If foreign income, Passport, Visa, Salary certificate, Contract paper, salary receipt/ bank statement of salary, documents of remit to Nepal etc. PAN of borrower for loan Rs.50 lakh and above
: Nepal Bank Ltd
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How much is student loan monthly?
Report Highlights. The average monthly student loan payment is an estimated $460 based on previously recorded average payments and median average salaries among college graduates.
- The average borrower takes 20 years to repay their student loan debt.
- The average student loan accrues $26,000 in interest alone over 20 years (at the rounded average interest rate of 6% ).
- Up to 67.1% of the average borrower’s total cost of repayment is generated interest.
Related reports include Average Time to Repay Student Loans | Student Loan Debt Statistics | Average Student Loan Interest Rate | Student Loan Default Rate 
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Which bank gives instant loan in Nepal?
Everest Bank Launches E-Paicho Foneloan; Eligible EBL Touch 24 Users Can Get Instant Loans From the App Itself September 20, 2022 
Everest Bank launched E-Paicho Foneloan, an instant collateral-free loan available to eligible users of the EBL Touch 24 app. Eligible Everest Bank account holders can now get up to Rs.200,000 instant loans without collaterals, paperwork, or bank visits.
- E-Paicho Foneloan can be repaid in different time frames.
- These include payback within 1 month, or on an EMI basis for 3, 6, 9, or 12 months.
- The option for prepayment of loans is also available for customers who want to clear their loans early.
- Customers eligible for E-Paicho Foneloan can also get “Buy Now Pay Later” services while using QR payment on any Fonepay merchant.
Customers will need to be registered to E-Paicho Foneloan with a verified email address to get access to these services. Eligibility for E-Paicho Foneloan is decided automatically based on various parameters, such as having a salary account, regular transactions, no other outstanding loans with the bank, and more.
- Eligible customers will see the E-Paicho Foneloan icon and the “Register” button.
- Customers can avail all the services of E-Paicho Foneloan once they register and verify the email.” “Credit access is notoriously difficult in the country”, said Mr.
- Bishnu Gyawali, SME/Retail Head of Everest Bank.
- We have decided to allow eligible customers get easy credit access.
E-Paicho Foneloan is disbursed instantly, and payments are taken automatically, so customers don’t need to worry about making payments either. All they need to do is maintain the required balance, and we will take care of the rest.” Everest Bank is an A Class Financial Institution licensed under NRB. 
: Everest Bank Launches E-Paicho Foneloan; Eligible EBL Touch 24 Users Can Get Instant Loans From the App Itself
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How much percentage is required for education loan?
Valid educational certificates showing a good academic record (of more than 50% marks) Guarantor’s income proof or credit history. Passport/i20 form/visa in case of studies abroad.
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Which bank provides education loan easily in Nepal?
Nepal Bank Ltd Every parent has dream in pursuing higher education to their children at renowned collage/ universities in domestic or foreign country. Nepal bank has offered NBL education loan to fulfill the financial needs for higher education in domestic/foreign country. Loan Term The loan will be available for 10 years excluding moratorium period. Eligibility
Borrower and guarantors should be Nepalese citizen. Minimum 50% or GPA 2.5 score in intermediate or equivalent level. Individual having adequate, stable, steady and regular source of income to serve installment and interest.
Documents Required: 1. Identification Related
Personal identification of borrower and guarantors Photograph of borrower and guarantor Family details from concerned local authority. Firm registration certificate (if business income) PAN/VAT certificate (if business income) Partnership deed (if business income)
2. Collateral Related
Land ownership certificate Land revenue receipt Rajinama/Bakaspatra/Anshabanda paper etc Ward map and File map of collateral Four boundaries (charkilla) Approved house map from local authority. Nirman Sampanna/abhilekhikaran paper
3. Income Related
Salary certificate and bank statement. Appointment letter/Contract Paper. Rental agreement with tenant identification (if rent income) Rental tax receipt Pension Patta (if pension income) Audited financial statement of last year and projection of coming year (if business income) Tax clearance certificate/receipt for income If foreign income, Passport, Visa, Salary certificate, Contract paper, salary receipt/ bank statement of salary, documents of remit to Nepal etc. PAN of borrower for loan Rs.50 lakh and above
: Nepal Bank Ltd
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