NRBC Education Loan
A loan used for an academic program’s cost is considered an education loan. NRBC Education loan is usually for college or university students abroad. An education loan is also called a student loan.
What are the purposes of NRBC education loan?
- Tuition fees
- Hostel fees
- Travel expenses passage money for students studying abroad
- Cost of books/equipment/instruments/uniform
- Examination/laboratory/library fees
- Cost of a computer/laptop required for course completion and
- Other academic expenses.
NRBC education loan features
- Interest rate is 9%
- Loan will be sanctioned in the name of parent/guardian/sponsor
- Long reimbursement tenure up to 2 years
- Loan amount 5 lac to maximum 20 Lac
- Disbursement in savings account with NRBC bank
- Loan will be sanctioned after confirmation from the foreign institute
- Candidate avail a pre-paid student card.
Special benefits of the education loan
- Financial assistance in form of bank solvency for higher education abroad
- Processing Fee: 1% of loan amount + VAT
- Penal Rate: 2.00% monthly on the overdue amount
- Partial settlement without fee
- Quick processing and easy documentation
- Pre-paid student card to meet expenditures and pay tuition fees abroad.
Read: Education Loan – Mercantile Bank Limited
Required Documents for Education Loan
To be eligible for an Education Loan Offer, every student needs to submit the following documents:
- Copy of National ID card
- Copy of valid passport with VISA for the student
- Filled application form
- Recent Passport size photographs of the applicant and the co-applicant
- Photo ID of the applicant and the co-applicant (if necessary)
- Offer/Acceptance Letter from the College/University
- All-Academic documents (Mark sheets, Certificates of the student)
- Utility bill of residence address
- Income documents of parent/sponsor
- TIN certificate for parents/sponsors of the last year.
Frequently Asked Questions on Education Loan in Bangladesh
Will I get the same amount in education loans for equivalent courses at home and abroad?
- No, education loans for courses in Bangladesh do not offer the same amount of money as courses of comparable level abroad. Offers higher loan amount for courses abroad as fees and other costs are higher than in Bangladesh.
What is the interest rate of NRBC Education Loan?
- Interest rate is 9%
Who is eligible for an education loan from NRBC education loan Bangladesh?
- One eligibility criterion for an education loan is that the individual should be a Bangladeshi national.
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