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 against Fixed Asset Collateral (Land and / or Building or apartment)

We extend Education Loan against property acceptable to the Bank. We accept property such as Land, Land & Building and Apartment owned by student, parents or sponsors. The loan will enable the student to pursue higher/technical/professional education abroad or in Nepal. The loan will essentially help the student to partly finance for tuition fees, airfare, logistics support and living expenses in the form of TCs/Cash/Demand Draft/Wire Transfers etc. Further, our 4 years moratorium (where the customer can service interest only) will reduce the financial burden of monthly repayment installments during these first four years thereby supporting students/parents/sponsors during the study period.     

Education Loans against Fixed Asset Collateral are being offered from our Pulchowk Branch (Tel Nos: 5542891, 5520431, 5532189) and all branches Outside Kathmandu Valley.

 

Features of Loans against Land and/or Building or apartment

Loan amount                     : up to NPR 5,000K
Loan to Value ratio           : 70% of Valuation of the property assessed by one of the Bank’s authorized valuators.
Loan type                         : Loan payable in Equated Monthly Installment (EMI) basis
Tenure                              : Up to 15 years.
Interest rate                      : 12.0% p.a.
Service charge                  : 0.5% of loan sanctioned amount
Loan documentation fee    : NPR 3,500/- payable upfront (flat).
Prepayment Fee/ Loan Commitment fee: 0.5% of prepaid loan amount/unutilized loan amount (prepayment allowed after one year).
Moratorium Period           : 4 years or course duration whichever is lower.
(Service Charge, Prepayment Fee and Loan Commitment fee are reduced from 1% to 0.5% effective from 09 February 2009 specially considering the students needs)

 

Documentary Requirements:

Identification:

1. Photos (2 each for applicant/co-applicant and 1 each for guarantor/s)
2. Citizenship Certificate
3. ID card (if any)
4. Passport, Visa, work permit etc. (if employed abroad)
5. Registration, PAN Certificate, Memorandum of Association & Article of Association (wherever applicable)

 

Income related documents (wherever applicable)

1. Salary Certificate (certifying gross/net salary per month/per year, issued within 3 months of application) or contract letter/latest pay slips etc.
2. Pension card / statement
3. Rental agreement (s) with tenant’s ID and Land Ownership Transfer where house must be mentioned or documents certifying house to be produced.
4. Renewed copy of blue book.
5. Audited Financials for at least two last fiscal years
6. Bank a/c statements (3 to 6 months)

 

Property related documents

1. Land Ownership Certificate (Lalpurja)
2. Land Transfer Deed (Rajinama, Bakaspatra, Anshabanda etc.)
3. Land Revenue Receipt (Malpot Receipt)
4. House Tax Clearance Receipt
5. Four Boundary Disclosure (Char Killa Pramanit)
6. Blue Print & Trace Map (Naapi Naksa)
7. Approved House map and permission letter
8. Mention of building in Lalpurja (Ghar Kayam)
9. Certificate of Construction (GharKayam)
10. Citizenship of property owner (applicable for purchase case only)

 

Others

1. Offer Letter (I 20)
2. Relationship Certificate
3. NMC Certificate for doctors

 

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.

 

Features of Loans against Nabil Fixed Deposits

Loan amount                : up to NPR 5,000K
Loan to Value ratio      : 90% of TD value.
Loan Type                   : EMI and/or Term Loan (quarterly interest payment).
Tenure                         : Up to 15 years.
Interest rate                 : +2% or minimum 8.75% p.a. (Interest rate subject to change)
Service charge             : 0.5% of loan sanctioned amount or NPR 5,000.00 whichever is higher.
                                        (Applicable while issuing sanction Letter)
Prepayment fee            : 0.5% of pre-paid loan amount (allowed after one year).
Credit Information Centre (CIC) report charge (as applicable and as directed by Nepal Rastra Bank): On Actual                                       Basis charged by CIC, Minimum Rs 500
Repayment Method     : Interest Rate on quarterly basis. Principal on Quarterly, Half Yearly, Annually or on                                       Maturity.

 

Documentary Requirements:

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

 

For any queries, please visit or contact us in following address:

Nabil Bank Limited
Pulchok Branch, Lalitpur  
Phone No: 5542891, 5010626,   5520431, 5532189
Fax no. 5542890
Email: plu@nabilbank.com 
SWIFT CODE: NARBNPKA