Education Loan

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 SMS to 34488.

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.