Which Banks Offer Education Loans in Nepal?
- Nepal Investment Mega Bank (NIMB): Competitive interest, flexible collateral.
- Global IME Bank: Large education loan portfolio, multiple branches.
- NIC Asia Bank: Up to NPR 40 lakh for international education.
- Agricultural Development Bank (ADBL): Government bank, lower rates but more paperwork.
- Standard Chartered Bank Nepal: For premium applicants, streamlined process.
Typical Loan Terms
Interest rate: 9–13% per annum. Maximum amount: NPR 25–60 lakh depending on collateral. Repayment period: 5–15 years after graduation. Moratorium period: often covers the study duration + 1 year.
Collateral Requirements
Most Nepali banks require property collateral (land certificate + house valuation). Some offer education loans against fixed deposits held at the bank.
Documents Required
University offer letter, CRICOS registration proof, CoE (if available), past 3 years' bank statements of parent/sponsor, income proof, property documents, citizenship certificate, and passport copies.
Tax Benefits
Interest paid on education loans may be deductible from taxable income in Nepal under Inland Revenue Department rules. Consult a tax advisor.
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