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Education Loan(शैक्षिक कर्जा)

Education Loan

Higher Education Within Your Reach

Purnima Development Bank's Education Loan aims to provide the much needed financial support to deserving students for pursuing higher professional or technical education in Nepal and abroad. The education loan would be provided to those students who have obtained admission to career-oriented courses e.g. medicine, engineering, management etc., either at the graduate or post-graduate level.

We believe, given the right tools and aid every child has the potential to be successful. Our education loans aim to be the very tool that will enable them to reach their goals in life. No more would a deserving student have to give away their pursuit of dreams due to lack of money. Our student loans will ensure that worthy students are empowered to take their destiny in to their own hands. Our endeavour is to help the future of our nation in education and prosperity.

Role of the Guardian:

The parent(s) or guardian of the student would be treated as a co-applicant of the student loan. His or her role would be, necessarily, like the primary debtor.

 

 

Security

Third party guarantee and/or collateral security may be asked for in appropriate cases.

Additional Security

Assignment of LIC policy in favour of the Bank for the sum assured being at least 100% of the education loan amount. The policy is kept alive during the currency of the education loan. To ensure this, the annual premium may be included in the computation of the loan requirement, along with the tuition fees and other recurring charges. Further, the future income of the student needs to be assigned in favour of the Bank for meeting the installment obligations.

 

Disbursement

The student loan will be disbursed in full or in suitable installments taking into account the requirement of funds and/or fee schedule as assessed by the Bank directly to the educational institution or vendor of books or equipment or instruments.