Sunrise Education Loan

Sunrise Education Loan

Sunrise Bank presents “Sunrise Education Loan” to financially support you in pursuing higher education for better and secured tomorrow. Now with much easier financing criteria, repayment schemes and hassle free processing, you can freely opt for your desired course in any college, institution or university in Nepal and abroad.

Sunrise Education Loan
7 %
Interest Rate
Sunrise Education Loan
10.11 %
Base Rate
Sunrise Education Loan
17.11 %
Total Interest Rate

Last Updated Date: May 16, 2022

Sunrise Bank Ltd

Sunrise bank limited has provided its customers with up-to-date banking services and facilities under the motto Rising to serve. The bank was founded by renowned pioneers and its team is completely committed to creating a dedicated institution to provide all banking needs and services. The aim of this bank is to provide all kinds of individuals in every area, size of transaction and aspiration with the tailor banking service. It has approved the capital with regard to the capital structure of the bank: 5,000 million, Promoter Shares of NRs (51% of the paid-up capital), 1,140.70 million respectively. For public stock, which is 49% of the paid-up capital, 1,095.95 million. This bank is not only open for profit motive But also with the aim to be a friend who will take care of people’s financial affairs and support them. This bank is always in operation to ensure the customer's success.

Sunrise Education Loan


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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