Nabil Bank

Education Loan

Nabil offers its education loan product specially designed for students aspiring to pursue further studies abroad. If you plan to apply for abroad studies and need financial assistance from Nabil, we are always at your service to meet your expectations and help you realize your academic goals.

Following are the features of our Education Loan Product:

 

Education Loan to Australian destination:

S.No.	Products	Loan Amount	Loan Tenor	Financing Ratio
1	Education Loan	3 lakh to 50 lakh	upto 15 years	70% of DV & 60% of FMV whichever is less basis

• Purpose: For education and related expenses
• Eligibility: Any individual having steady regular income source.
• Moratorium Period: Max. of 4 years or course duration whichever is earlier.

 

Other Features:

• Collateral for all products
• At least 8 feet wide, motorable access (4 feet can be considered in case of prime locality)
• Free of guthi or mohi
• Third Party Collateral-not acceptable

 

Interest Rate

As published by the Bank in media time to time

 

Pricing and Charges

• Loan Processing Fees/Service Charge taken up front.
  0.75% of loan amount
• Commitment Fee:
  0.50% of unused limit
• Prepayment Criteria
  Prepayment not allowed before 1 year
  1% of amount partial/prepaid after one year & 2% of loan outstanding in case of loan take over or settled before servicing of 12 installments.
• Valuation Charge
  NPR 5,000/- flat
  Insurance of the mortgaged buidling with Fire, ES, RSD, MD & Terrorism risk coverage (if any)
• Penal charge
  2% of total loan outstanding for the defaulted period.
• CIC Charge
  NPR 250/- per page on actual basis.
• Mortgage/Rokka cost:
  On actual basis based on loan size and location of property to be mortgaged.

 

Required documents

 

1. ID related documents	2. Security/Collateral related documents	3. Income source related documents
Citizenship and/or Passport Bank account statement Photographs Firm/company Registration (if any) PAN (if any) Article & Memorandum of Association (if any) Partnership deed (if any)	Lal purja with Rajinama/Bakaspatra Malpot receipt Blue print and /or Trace map Approved House Map (in case of building), Approval Tax Clearance of the building Char Killa Pramanit Ghar Kayam in Lalpoorja in case of existence of house	Salary certificate Rental agreement (if any) with an identification of tenant P/L account and Balance Sheet for 2 fiscal years (if business income) Copy of blue book of vehicle (if income from commercial vehicle) Copy of Agreement (if consultancy income)

Offer Letter/Incase of visa extension:

COE letter, Immigration letter & passport copy with visa stamp, No Objection Letter

Notes:

• Income from foreign employment can also be considerd subject to submission of relevant documents viz. valid passport/visa, work permit, salary certificate from the employer, recent pay slip/bank account statement etc
• Relationship Certificate/documents

 

Who Can Apply for Education Loan?:

• Any Nepalese citizen who has regular source of income to service the EMI.
• Any Nepalese Citizen who has collateral (upto Bank's satisfaction) to offer to the Bank.
• Any Nepalese Citizen whose child/ren have obtained offer letter/I-20 from the university.

 

Education Loan in general:

S.No.	Products	Loan Amount	Loan Tenor	Financing Ratio
1	Education Loan	3 lakh to 50 lakh	upto 15 years	70% of distress value of property & 60% of FMV whichever is less

• Purpose: For education and related expenses
• Eligibility: Any individual having steady regular income source.
• Moratorium Period: Provided depending upon duration of study

 

Other Features:

• Collateral for all products
• At least 8 feet wide, motorable access
• Free of guthi or mohi
• Third Party Collateral-not acceptable

 

Interest Rate

As published by the Bank in media time to time

 

Pricing and Charges

• Loan Processing Fees/Service Charge taken up front.
  1.25% of loan amount.
• Commitment Fee:
  1% of unused limit
• Prepayment Criteria
  Prepayment not allowed before 1 year
  1% of amount partial/prepaid after one year & 2% of loan outstanding in case of loan take over or settled before servicing of 12 installments.
• Valuation Charge
  0.2% of Fair Market Value or minimum NPR 5,000/- whichever is higher.
  Insurance of the mortgaged buidling with Fire, ES, RSD, MD & Terrorism risk coverage (if any)
• Penal charge
  2% of total loan outstanding for the defaulted period.
  
• CIC Charge
  NPR 250/- per page on actual basis.
• Mortgage/Rokka cost:
  On actual basis based on loan size and location of property to be mortgaged.

 

Required documents

 

1. ID related documents	2. Security/Collateral related documents	3. Income source related documents
Citizenship and/or Passport Bank account statement Offer Letter/I 20/COE letter if applicable. Firm/company Registration (if any) PAN (if any) Article & Memorandum of Association (if any) Partnership deed (if any) Relationship certificate/documents	Lal purja with Rajinama/Bakaspatra Malpot receipt Blue print and /or Trace map Approved House Map (in case of building), Approval Tax Clearance of the building Char Killa Pramanit Ghar Kayam in Lalpoorja in case of existence of house	Salary certificate Rental agreement (if any) with an identification of tenant P/L account and Balance Sheet for 2 fiscal years (if business income) Copy of blue book of vehicle (if income from commercial vehicle) Copy of Agreement (if consultancy income)

 

Notes:

• Income from foreign employment can also be considerd subject to submission of relevant documents viz. valid passport/visa, work permit, salary certificate from the employer, recent pay slip/bank account statement etc

 

Who Can Apply for Education Loan?:

• Any Nepalese citizen who has regular source of income to service the EMI.
• Any Nepalese Citizen who has collateral (upto Bank's satisfaction) to offer to the Bank.
• Any Nepalese Citizen whose child/ren have obtained offer letter/I-20 from the university.

 

Education Loans against Nabil Fixed deposits:

Nabil provides a hassle free loan against Nabil Fixed Deposits for educational purposes as well. The Nabil Fixed Deposits will be pledged with us until the sanctioned loan limit remains valid or the loan/interest is fully repaid and unused loan limit is released. The bank pays the interest on pledged Fixed Deposit at half yearly basis at Bank’s prevailing interest rate. Out of the sanctioned limit, based on the requirements evidenced in the offer letter, the disbursements will be made for the purpose of meeting payments / expenses related to the academic course such as paying tuition fees, airfare, living expenses in the form of TCs/Cash/Demand Draft/Wire Transfers etc.

Education Loans against Nabil Fixed Deposits are being offered from Kantipath Branch (Tel Nos.- 4227181, 4243548) and all branches Outside Kathmandu Valley.

 

S.No.	Loan type	Loan Amount	Loan Tenor	Loan to Value ratio
1	EMI and/or Term Loan (quarterly interest payment)	up to NPR 5,000K	upto 15 years	90% of TD value.

 

Repayment Method:

• Interest Rate on quarterly basis. Principal on Quarterly, Half Yearly, Annually or on Maturity.

 

Interest Rate

+3% or minimum 10.00% p.a. (Interest rate subject to change)

 

Pricing and Charges

• Service Charge taken up front.
  0.5% of loan sanctioned amount or NPR7,500.00 whichever is higher. (Applicable while issuing sanction Letter).
• Prepayment Fee
  0.5% of pre-paid loan amount (allowed after one year)
• CIC Charge
  On Actual Basis charged by CIC, Minimum Rs 500.
• Mortgage/Rokka cost:
  On actual basis based on loan size and location of property to be mortgaged.

 

Required documents

• Offer Letter issued by the Universities/Colleges
• Copy of Citizenship certificate of the borrower
• Two copies of recent passport size photograph of the borrower (Other loan documents shall be executed before loan disbursement)

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