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Citizens Education Loan

Citizens Education Loan

Education is the most important investment one makes in life. Therefore, the Bank has brought the Education Loan, which aims to finance meritorious students who choose to pursue a higher education (Professional or technical) in Nepal and abroad. The loan is extended to students/ professionals desiring to pursue higher studies such as Graduation, Post-Graduation, Specialization and Vocational/Technical courses in the country or abroad. Citizens Education loan covers a maximum of 80% of expenses in connection with the studies of the borrower in the country or abroad.

Purpose:To finance the education cost of the students desiring to pursue higher education in Nepal or Abroad
Nature:Terminating loan payable in Equal Monthly Installment
Loan Size:Maximum Up to 5.00 Million
Tenure:Repayment period maximum 15 years including moratorium period.
Loan Portion:Up to 100% of the cost pf education but not exceeding 80% of Distress Value of collateral security
Rate of interest:Premium of 1.5% to 4% p.a. over the Base Rate

Eligibility Criteria:

  • Admission confirmation from respective education institution of the student.
  • The parent/ guardian/ spouse of the student should have a regular source of income for repayment of installments.
  • The applicant must be at least 18 years and should not exceed 65 years at the time of maturity.