Education Loan

Education Loan

Abroad Studies… this is what you might be thinking in your mind. Focus on pursuing the course of your choice and secure a great education. We bring to you simplified Education loan which aims to finance students who choose to pursue higher education. Now you need not wait for college offer letter to initiate the loan process; all you need to do is submit a document which substantiates the course detail and its cost; which may be generated through college website, self declaration or through consultants’ intimation.

Education Loan
7 %
Interest Rate
Education Loan
8.22 %
Base Rate
Education Loan
15.22 %
Total Interest Rate

Last Updated Date: May 17, 2022

Nabil Bank Ltd

Nabil Bank Limited is the first private sector bank in the nation and has been operating since July 1984. With the aim of expanding the international standard of modern banking services to different segments of society, Nabil was integrated. In pursuing its goal, through its 118 points of representation, Nabil Bank offers a full range of commercial banking services. In addition to this, Nabil has a presence throughout the nation through over 1500 Nabil Remit agents. As a leader in the introduction of many revolutionary products and marketing concepts in the domestic banking industry, Nabil started a period of modern banking with customer loyalty calculated as a focal target while doing business. A highly skilled and seasoned management team oversees the bank's affairs, including day-to-day affairs and risk management. The bank is completely equipped with advanced technology, including international standard banking applications enabling e-channels and e-transactions. For all its stakeholders, clients, shareholders, regulators, societies, and employees, Nabil is going forward with a vision to be the 1st option provider of full financial solutions. Nabil is committed to providing its stakeholder's excellence in a variety of areas, not just one measure, such as profitability or market share. It is mirrored in its Together Ahead Brand Pledge.

Education Loan

REQUIRED DOCUMENTS

Documents required for Education Loan


  1. Loan application firm duly filled and signed in standard format of the Bank.
  2. Current account of the applicant / borrower.
  3. 2 Passport size photo of borrower and joint-borrower.
  4. Must be 18 years old or above and a holder of Nepali Citizenship.  
  5. Should show the income source of guardians to repay the installment amounts. 
  6. Photocopy of all academic records above SEE(Secondary level (transcript & character certificates).
  7. Should be admitted to respective colleges and institutions and proof of enrollments must be submitted.
  8. Be the student of Undergraduate/Bachelors, Graduate/Masters & above, or any other professional courses.
  9. Photocopy of passport with visa for studying abroad except India.
  10. Photocopy of admission confirmation letter/acceptance letter from the university/college incorporating admission fee, tuition, accommodation and others.
  11. Photocopy of land ownership certificate (Lalpurja) to be placed as collateral.
  12. Salary Certificate/Rental Contract/Financials of business/Other contract agreements if any, of parents.
  13. Photocopy of Tax/PAN/VAT certificate along with registration certificate (For self-employed).
  14. Other documents as requested by banks

What Is Education Loan?

An education loan is a sum of money borrowed to finance post-secondary education or higher education-related expenses. 

Education loans are intended to cover the cost of tuition, books and supplies, and living expenses while the borrower is in the process of pursuing a degree. Payments are often deferred while students are in college and, depending on the lender, sometimes they are deferred for an additional six-month period after earning a degree.

Types of Education Loans

Although there are a variety of education loans, they can be broken down generally into two basic types: federal loans which are provided by the government and other one is private loans.

Federal Student Loans

Various types of federal student loans exist, including direct subsidized, direct subsidized, and direct consolidation loans. If offered and accepted, funds will be issued by the federal government to the specified university to cover the student's academic costs. If there are remaining funds available, they will be disbursed to the student. A student may use these funds to cover other expenses that they incur while pursuing a degree. If a student qualifies for subsidized loans, the borrower’s interest will be covered while they are in school.

Private Student Loans

In some cases, the student loan package that a student is issued through the federal government may suggest that the borrower applies for additional funds through private lenders. Private student loans also include state-affiliated lending nonprofits and institutional loans provided by the schools.

Students can apply directly to individual private-sector lenders for funds. Similar to federal funds, the approved amount will be influenced by the school. If approved, funds for educational expenses will first be disbursed to the school to cover all bills expenses of students.Borrowers can apply directly to individual private-sector lenders for funds. Similar to federal funds, the approved amount will be influenced by the school a borrower is attending. If approved, funds for educational expenses will first be disbursed to the school to cover any pending bills; the remaining amount is then sent directly to the borrower.

How an Education Loan Works 

Education loans are issued for the purpose of attending an accredited college or a university and pursuing an academic degree. Education loans can be obtained from the government or through private-sector lending sources. Federal loans often offer lower interest rates, and some also offer subsidized interest. Private-sector loans generally follow more of a traditional lending process for application, with rates that are typical higher than federal government loans.

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