PRIME SCHOLAR LOAN - Access towards Education

“Education is the best provision for old age.”

Earning higher degree in renowned College/University was a sweet dream few years back. But, now it is not a hard business for needy and deserving scholars. It is the most important investment one makes in their life as well as the good dreams memorized on their mind.

To achieve your dream for higher education, Prime Commercial Bank offers Prime Scholar Loan for future scholars. By this product, we assist our customers to achieve higher degree from the country & abroad. We have strong belief that no one should be deprived from the light of education due to lack of sufficient fund. So, if are you compromising your education due to insufficiency of funds, then give your worries to us. Prime Scholar Loan is here to take care of your educational need.

FEATURES – Feel the difference

• Very low and competitive interest rate.
• Quick processing and prompt approval
• Interest charged quarterly until grace period & repay on EMI thereafter
• Repayment can begin after graduation

A SHORT DESCRIPTION

General Requirements:

1. Should be Nepali Citizen
2. Should complete at least plus two level degree
3. Secured admission or commitment for admission for any Professional/Academic/Technical courses
4. Approval from and sufficient income source of parents/ undivided family members

Expenses that can be included on Loan

1. Fee payable to College/University as Tuition fees, Examination fees, Library, Laboratory fee, Residence fee and other related fees
2. Purchase of Books/equipments/computers and other stuffs
3. Any re-fundable deposits
4. Traveling Expenses related to education purpose only
5. Any other expense required to complete the course –like study tours, project work, thesis etc.
   

Security/Guarantee:

1. Personal Guarantee from either parents or local guardian
2. Collateral that covers the value of loan by 130 percentage
3. Collateral/Security can be land, building, Securities & bonds, Gold, Fixed Deposit receipt in the name of student or parent

Interest Rate:

Applicable Interest Rate: 11.00 - 14.00% p.a.

Other Benefits:

1. Education related expenses incurred prior to approval of loan can be reimbursed if it is claimed within 1 month period after loan disbursement.
2. Student who applied second time for next education loan can enjoy special facility from bank.

WHAT TO THINK? - Let’s Deal

It is not rational to waste the time by thinking and re-thinking. We are here to support your education related financial needs. Don’t be late …. Let’s initiate the process for Loan. But for this, you should have following documents and papers.

1. Loan application on Bank's format.
2. Passport size photograph
3. Proof of Address(Permanent) / ID Proof.
4. Proof of Age.
5. Proof of having secured pass marks in last qualifying examination.
6. Letter of admission in professional, technical or vocational courses.
7. Prospectus of the course wherein charges like Admission Fee, Examination Fee, Hostel Charges etc. are mentioned.
8. Details of Assets & Liabilities of parents.
9. Details of proposed collateral securities
10. Details of income source of parents/ undivided family memembers