Education Loan
10.50%
Secure Your Future – Education Loan up to Nu.
Purpose: For meeting self/spouse or child’s education expenses
Eligibility
- For students studying in private school/colleges/Universities/ Institution in Bhutan.
- For students studying in private school/colleges within Bhutan, India and third countries.
- Individuals on self-study
- Customers availing Education loan salary-based loan should provide third-party guarantee.
- The loan interest should be serviced as and when due for loan accounts that have opted for gestation period.
- The gestation period should not exceed two years.
- The authorized person should stand as guarantor for the loan
Quantum
- 30 times the net salary or maximum of Nu 1.00 million.
- 75% of the collateral value (land and building) but not exceeding Nu. 5.00 million.
Documents Required
- Loan application for dully filled and signed on all the page.
- Guarantor form dully filled and signed on all the page, if applicable
- Recent passport size photograph of applicant and guarantor
- Citizenship identity card copy of children if the child is 15 years and above
- Citizenship identity card copy of the applicant and guarantor
- Provisional admission or latest academic admission of the colleges/institutes/universities.
- Latest progress report of the student
- Fee structure
- Copy of ownership certificate of collateral
- Latest pay slip, if applicable
- Letter of undertaking from the employer for deduction of loan installment, if applicable.
- Proof of income
- Copy of Passport for students studying outside Bhutan
- Stamped Consent/No Objection letter for family-owned land, family tree (household) register issued by Department of Civil Registration and Census, MoHCA (if applicable).
- Stamped and witness consent letter for extension of charges duly signed by the property owner, if applicable.
- For students studying in private school/colleges/Universities/ Institution in Bhutan.
- For students studying in private school/colleges within Bhutan, India and third countries.
- Individuals on self-study
- Customers availing Education loan salary-based loan should provide third-party guarantee.
- The loan interest should be serviced as and when due for loan accounts that have opted for gestation period.
- The gestation period should not exceed two years.
- The authorized person should stand as guarantor for the loan
- 30 times the net salary or maximum of Nu 1.00 million.
- 75% of the collateral value (land and building) but not exceeding Nu. 5.00 million.
- Loan application for dully filled and signed on all the page.
- Guarantor form dully filled and signed on all the page, if applicable
- Recent passport size photograph of applicant and guarantor
- Citizenship identity card copy of children if the child is 15 years and above
- Citizenship identity card copy of the applicant and guarantor
- Provisional admission or latest academic admission of the colleges/institutes/universities.
- Latest progress report of the student
- Fee structure
- Copy of ownership certificate of collateral
- Latest pay slip, if applicable
- Letter of undertaking from the employer for deduction of loan installment, if applicable.
- Proof of income
- Copy of Passport for students studying outside Bhutan
- Stamped Consent/No Objection letter for family-owned land, family tree (household) register issued by Department of Civil Registration and Census, MoHCA (if applicable).
- Stamped and witness consent letter for extension of charges duly signed by the property owner, if applicable.
