Nearly all banks in Nepal offer a variety of education loans in Nepal to help their clients make their lives easier. Finding the right education loan in Nepal can be a difficult and complicated due to a lack of information.
If you are a student, you must already be aware that getting an education in Nepal is no piece of the cake. Increasing academic expenses make it difficult for many students to continue their studies. Student Loans in Nepal can help students fulfill their dreams of getting a degree when they don’t have enough financial assistance.
After my research, I have listed the “Best education loan in Nepal 2081”. You can find the important factors that banks consider to approve an education loan in Nepal.
Best Banks For Education Loan In Nepal 2081
| Bank Name | Interest Rate | Processing Fee | Loan Amount |
| Agriculture Dev Bank Ltd. (ADBNL) | 11.75%-14.30% | 0% – 0.80% | Up to 75 Lakhs |
| Citizens Bank International (Citizens) | 11.40%-14.30% | 0% – 0.40% | Up to 80 Lakh |
| Civil Bank Ltd. (Civil) | 12.75%-14.30% | 0% – 0.55% | Up to 80 Lakh |
| Everest Bank Ltd. (EBL) | 13.75%-14.30% | 0% – 0.70% | Up to 75 Lakh |
| Global IME Bank Ltd. (Global) | 12.40%-13.30% | 0% – 0.80% | Up to 70 Lakh |
| Himalayan Bank Ltd. (HBL) | 13.75%-14.30% | 0% – 0.40% | Up to 60 Lakh |
| Kumari Bank Ltd. (Kumari) | 11.75%-15.30% | 0% – 0.35% | Up to 75 Lakh |
| Machhapuchhre Bank Ltd. (MBL) | 11.30%-16.30% | 0% – 0.95% | Up to 80 Lakh |
| Nabil Bank Ltd. (NABIL) | 12.75%-14.30% | 0% – 0.40% | Up to 1 Crore |
| Nepal Investment Mega Bank Ltd. (NIMB) | 12.75%-14.30% | 0% – 0.25% | Up to 1 Crore |
| Nepal Bank Ltd. (NBL) | 11.40%-14.30% | 0% – 0.85% | Up to 85 Lakh |
| NIC ASIA Bank Ltd. (NIC) | 12.75%-14.30% | 0% – 0.35% | Up to 50 Lakh |
| NMB Bank Ltd. (NMB) | 12.75%-14.35% | 0% – 0.85% | Up to 75 Lakh |
| Prabhu Bank Ltd. (PRABHU) | 13.75%-15.30% | 0% – 0.75% | Up to 70 Lakh |
| Prime Commercial Bank Ltd. (Prime) | 14.75%-15.30% | 0% – 0.65% | Up to 60 Lakh |
| Rastriya Banijya Bank Ltd. (RBB) | 11.75%-14.30% | 0% – 0.75% | Up to 1 Crore |
| Siddhartha Bank Ltd. (SBL) | 12.75%-15.30% | 0% – 0.45% | Up to 80 Lakh |
| Sunrise Bank Ltd. (Sunrise) | 11.85%-14.30% | 0% – 0.35% | Up to 60 Lakh |
Note: These interest rates and processing fee are subject to change as per the bank’s rules and regulations.
Documents Required for Education Loan
| Requirement | Documents For Education Loan |
| Proof of Identity | Citizenship or Passport |
| Status | Salaried Individual |
| Proof of Residence | Utility Bills |
| Proof of Income | Bank statement of salary account for the past two years |
Identification Related
- Photograph (2 copies each)
- Citizenship and/or Passport
- If applicable, relationship certificate
- Certificate of Marriage (if applicable).
- A minimum of 6 months’ bank statement (deposit/loan)
- Registering Certificate for Firms/Companies (if applicable).
- PAN/VAT Certificate (If applicable).
- Location Map (Residence, Office)
- Article of Association and Memorandum of Association (MOA), if applicable
- If applicable, Partnership Deed
- PAN Certificate (Loan amount equal, or higher than 5,000,000)
- Location Map (Residence, Office
- Income related
Educational Documents Required for Education Loan
- Mark sheet of last qualifying examination.
- Copies of letter conferring scholarship, if any.
- Proof of admission to the course/Offer Letter from the concerned college/university.
- Schedule of expenses for the course.
- Two copies of recent passport-size photographs of the students and their parents/guardian/guarantor.
- Copies of foreign exchange permit, where required.
Collateral Related
- Land Ownership Certificate (Lalpurja).
- Rajinama or Bakaspatra or Ansha-banda
- Malpot Receipt
- Clearance of taxes on building
- Blueprint and trace map
- Char Killa Pramanit
- Map of approved houses
- Nirman Sampanna Patra/Abhilekhikaran
- Ghar Kayam at Lalpurja in the event of the existence of the house
Salary certificate
- The rental agreement (if applicable) and the tenant’s identification
- Audited financials from the past 2 fiscal years (If there was business income).
- Pension Certificate (Patta).
- A salary certificate, work permit and valid passport with visa. Also, payslips and statements of bank accounts.
- For all income, the latest tax paid receipt or tax clearance certification (wherever applicable)
- Copy of valid/renewable blue book for the vehicle with route permit (if income is from the commercial automobile)
Best Cheapest Certificate Education Loan in Nepal
A fixed or floating interest rate package can be purchased depending on which Nepali bank or financial institution you are dealing with. Floating rates are based on the Repo rate, which is a spread that is applied before the final effective rate (EIR) is offered in Nepal. Here is the list of best banks for education loans in Nepal:
- Rastriya Banijya Bank Education Loan
- Students can get loans up to Rs.80 Lakh from
Rastriay Banijya Bank at concessional rates - Max Loan Tenure: 15 Years
- Collateral: Nil up to Rs. 7.5 lakh
- Margin: Nill up to Rs.4 Lakh
- 12-month moratorium after course completion
- A second loan may be used to pay for higher education.
2. NIC Asia Bank Education Loan
- Maximum Loan Amount: Need Based
- Maximum Loan Tenure: 15 Years
- Collateral: Up to Rs.7.5 Lakh
- Margin: Nill up to Rs.4 Lakh
- Nepali students and OCIs/PIOs who were born in Nepal can apply for loans.
- The security will be 125% of the loan amount.
- After course completion, there is a 6-month to 1-year moratorium.
- Nepal Investment Mega Bank Education loan
- Maximum Loan Amount Rs. 1 Core
- Maximum Loan Duration: 15 Years
- Margin: Nill up to Rs.4 Lakh
- Based on your profile, you can get a loan prior to admission
- Within 15 business days of receiving your application, the bank will disburse the loan.
- For working professionals, unsecured loans upto Rs.20 lakh
4. Siddartha Bank Education Loan
- Maximum loan amount Rs.30 Lakh
- Maximum Loan Tenure: 6 Years
- Collateral: Up to Rs. 4 Lakh
- You can choose from three EMI plans depending on your needs.
- Loan approvals are quick and require minimal documentation
5. Global IME bank Education Loan
- Maximum Loan Amount: Rs. Maximum Loan Amount: Rs. 80 Lakh
- Maximum Loan Tenure: 10 -15 Years
- Collateral: 100% Tangible Security
- Margin: Nill up to Rs.4 Lakh
- Available for education loans starting at nursery.
- Select education loan programs eligible for a free debit card
- Concessional interest rates available for female students
How to Apply For A Education Loan In Nepal
1] You can visit the bank or access the online application form to apply education loan for australia in Nepal
2] For a pre-approved proposal, please enter personal, financial and employment information
3] The education loan eligibility calculator allows you to choose the amount of the loan.
4] Provide the property details
5] Make payment online securely
6] Upload Scanned copies of required documents
Education Loan Eligibility in Nepal
The following document is considered by banks and financial institutions while going through your loan application to process an education loan. If you meet these criteria, consider yourself eligible for an Education loan in Nepal.
| Nationality | Nepali |
| Age | 18-60 Years |
| Work Status | Salaried |
| Employment | Government or Private Company |
| Net Monthly | 20000 or Above |
Courses:
- Undergraduate programs
- Postgraduate programs
- Doctoral courses and PhDs
- Certificate courses with 6 months or longer duration
- Job-oriented courses
- Technical/diploma/professional courses
Institutes:
Recognized institutions and government colleges
Private institutes aided by the government
Professional institutions
International colleges and universities
- Permanent/confirmed staff of reputed Private Sector Units institutes/organizations in Nepal
- An applicant may maintain a salary bank in Nepal .
- Minimum monthly gross salaried of NPR 20000
- The plot should not contain Guthi or Mohi
- High-tension lines should not be crossed in the plot
- At least 8 feet wide motor able access of proposed land/building.
- Permanent/confirmed employees from reputed Nepali private institutes/organization
List of Expenses Covered in Education Loan Nepal
- Tuition fees
- Hostel fees
- Travel expenses passage money for students studying abroad
- Cost of books/equipment/instruments/uniform
- Examination/laboratory/library fees
- Price of a computer/laptop necessary for course completion
- Caution deposit, building fund/refundable deposit supported by institution bills/receipts
- Other expense necessary to finish the course for example study tours/thesis/project work