Foreign Education Loan

Studying abroad can be a life-changing decision, however, this doesn’t come easy. Now guardians have the option to make arrangements for funding the education expenses.

Our new Foreign Education Loan will help the guardians to fulfil their dream of an international education for their children.

Features

To meet the cost of foreign education covering fees payable to University/ College, boarding and lodging expenses etc.   Student File Service available   Loan amount upto TK.25.00 (Twenty Five) Lac or 80% of appropriate security value whichever is lower..   Flexible repayment of 12 Months to 60 Months.   Interest Rate: Presently 9%.   Processing Fee: 0.50% of the loan amount.   Moratorium Period upto 3 months. No Hidden Charge.   Easy documentation & quick processing. Option for early & partial settlement.

Eligibility:

Applicant should be Parent or first relative of the student who bears the educational expenses.   The applicant should be Bangladeshi individual (supported by NID).   Reliable income source of parents/ guardian for the repayment of EMI. Minimum monthly net income should be at least 3 (Three) times of monthly installment. For loan amount exceeding Tk.5.00 lac, applicant must be a tax payer. Maximum age of the applicant should not exceed 65 (Sixty Five) years at the time of maturity of the loan.

Required Documents:

Copy of National ID of Applicant/ Guarantor and Passport of the student.   • 2 Copies of recent lab printed passport size photograph of Applicant, Guarantor & Student.   Copy of latest Income Tax Clearance Certificate/ Tax Return/ Tax Acknowledgement Receipt of the applicant (for loan amount exceeding Tk.5.00 lac).   Bank Statement of at least 06 months. For salaried person, Salary Certificate from competent authority. For businessman, valid trade license, income statement and other papers of firm/ company with financial reports. Offer Letter from foreign educational institution. Profile of the selected educational institution. Study plan with budget i.e. information regarding tuition fees and living expenses etc. Photocopy of all relevant educational certificates & transcripts including IELTS & TOEFL (if any). Personal guarantee(s). Authorization for debiting client's deposit account for collection of EMI.   Required No's of fully prepared post dated & valid signed MICR cheques with Memorandum of Deposit of cheques. Collateral Security.   FDR with PBL/ other Banks duly discharged & properly lien marked.