NIC Asia Education loan is a simplified and flexible student loan for your higher studies. The education loan is a collateral-based term loan specially designed to facilitate your higher education financial requirements in Nepal or abroad. Our study loan has a simple documentation process, quick disbursal, and longer repayment tenure.
For more information about the education loan please contact the nearest branch or type “EDU” and send an SMS to 34488.
|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|
|Up to 100% of total cost considered by the bank but not exceeding the valuation of collateral as defined below:|
|Bank Finance||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.
SOURCE: NIC ASIA