Global Education Loan in Nepal: Global IME Education Loan is provided to suffice financing requirements for students to pursue a sound academic career. Our education loan aims to provide financing in such a way that the requirements of the students are met without any hassles. !!
To provide education cost of the student to study abroad or within the country in or above +2 in any streams.
The education cost includes tuition fee, admission fee, ticket expense, accommodation expense, and stationery expenses, medical insurance expense, donation.
- Features and Benefits
- Competitive premium rate.
- Flexible Repayment Schedule: Monthly (EMI) or quarterly (EQI) basis.
- Fast approval process.
- Prompt services.
- Facility is available in all branches.
- Financing up to 80 % of your Education Cost.
- Counseling to help better financing by our RMs throughout the process.
- Individuals-Nepalese citizens above 18 years and up to 70 years at maturity of the facility.
- Salaried individual/ self-employed persons.
- Sufficient income source to repay at the satisfaction of the Bank.
- The parents of the borrower shall be made as the borrower and the student will be made as to 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.
- EMI /EQI– 50% of gross income.
- EMI /EQI– 80% of uncommitted (disposable) income.
Registered mortgage of land and building.
Personal Guarantee of a family member or third party acceptable to the Bank.
Comprehensive insurance coverage of the building.
Security coverage requirement: Loans can be extended up to 80% of FAC on FMV.
Proof of Income
Photocopy of contract agreement between the applicant and his/her employer.
Photocopy of Rent Contract if any.
Photocopy of audited Financial Statements in case the Firm /Company’s income is considered.
Self-declared of income.
Others if any.
- Loan application form duly filled and signed in the standard format of the Bank.
- The 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 construction completion certificate from Municipality/Rural Municipality (Nirman Sampanna Pramanpatra) and approved drawing of the building in case a building is to be placed as collateral.
- 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).
- An original letter stating coheir (Anshiyar) of the owner of the collateral from a local authority (Ward).
- Multiple banking declarations.
- Other documents stipulated by the Bank from time to time.