- 1 Loan Providing Institutions/ Banks
- 1.1 One Bank Limited
- 1.2 United Commercial Bank Limited
- 1.3 NCC Bank
- 1.4 Mercantile Bank Limited
- 1.5 NRB Global Bank
- 1.6 Shahjalal Islami Bank
Are you in need of a student loan? Do you want some information regarding loan facilities for the student? This article will help you gather necessary information about getting loans for study purposes.
Education is one of the fundamental rights which enlightens our lives by removing darkness and ignorance. For improved life, we need better education. You need higher degrees to flourish in your career. To obtain higher educational degrees, there is a requirement for a handsome amount of money.
There are a number of private banks providing easy loan facilities for the student. They aim to make higher studies more accessible to the middle-class and lower-middle-class communities. Guardians can avail of the loan facilities by abiding some specific rules set by the bank. In some cases, the student can take a loan too.
Loan Providing Institutions/ Banks
One Bank Limited
OBL Student Loan aims to provide the much needed financial support to deserving students for pursuing higher professional or technical education in the home and abroad. Students who embark on their overseas education, ONE Bank, help them fulfill their aspirations with its Student Loan.
Any creditworthy Bangladeshi Parents/Guardian of the students having age from 21 to 65 years or retirement age whichever is earlier at loan maturity
Minimum Gross Monthly Income:
United Commercial Bank Limited
UCB has loan facilities for the student. For education purposes, they provide loans to help deserving students.
- Employees of reputed Multinational Companies and large local corporate.
- Employees of medium-sized or mid-range local companies such as reputed schools & colleges, pathology labs, hospitals, restaurants, hotels, newspapers, airlines, real-estate developers of repute, insurance & leasing companies, NGOs, aid agencies, UN bodies, reputed trading firms and business establishments and all other salaried employees including employees of Government, Semi-government & Autonomous bodies.
- Any tax paying businessmen of repute, any employed / self-employed tax-paying individual having a reliable source of income
- TK .12,000 for salaried individuals and Tk. 25,000 for businessman
- Tk. 10,000 for employees of Government, Semi-Government and Autonomous bodies
Minimum Service length:
- For the salaried individual, minimum service length of 2 years
- Govt. employees must be confirmed on job
- Minimum of 20 years
- Maximum age 65 years at the time of loan maturity.
Maximum Term of Loan: 05 Years
Service charges: 1% of loan amount + VAT as per govt. regulations
Early settlement/Partial Payment: Allowed anytime without any charges.
NCC Bank provides Education loans to ensure a better higher education for the deserving candidates. For studying abroad, they have special packages too.
Eligibility of the applicant
- Any Bangladeshi student, after successful completion of at least H.S.C
- Complied all preconditions for getting admission and visa formalities.
- Have no bad reputation e.g. Criminal Record, Political connection etc.
- Minimum: BDT 100,000 and Maximum: BDT 1,000,000.
Loan Application Fees
- BDT 600
- Completion of A/C opening formalities including Letter of Introduction.
- Letter of Authorization from the Student for whom the Loan will be availed.
- Copies of National ID Card & TIN of Borrower, Student, and Guarantor (if available).
- Salary/ Income Certificate stating net earnings.
- Copy of Passport with valid visa of the student, where applicable.
- Copies of Certificate of Education of the student.
- Any other documents that are prudently felt necessary.
Mercantile Bank Limited
Mercantile Bank Education Loan may be availed by any student of Bangladeshi National with an excellent educational track record to provide financial assistance for further educational purposes like a study abroad or within the country.
- To pursue higher studies for undergraduate courses (general/technical) at home and post-graduate courses at home and abroad.
- Maximum Tk.5.00 lac for studies in Bangladesh & Max. Tk.20.00 lac for studies in abroad
- Minimum 01 year & maximum 06 years with three months moratorium depending on the nature of courses
- 18-26 years
- Competitive Interest Rate
- Any student of Bangladeshi National
- Holds excellent result in SSC/HSC/O-level/A-level or equivalent from any recognized educational institution at home or abroad for pursuing an undergraduate course at home
- Holds excellent result in SSC/HSC/O-level/A-level or equivalent from any recognized educational institution at home or abroad for pursuing post-graduate courses at home or abroad as well
- Father/mother/guardian will become joint applicant(s) with the student, and the application form of Education Loan will be signed by the parent/guardian along with the student.
Expenses Considered for Loan
- Fees payable to University/College/Hostel
- Purchase of books/ equipment/ instruments/ uniforms
- Travel expenses/ passages money for studies abroad
- Purchase of computers – essential for completion of the course
- Boarding and lodging expenses in recognized boarding houses/ private accommodations
- Bio-Data of the applicant with a guardian
- Personal net-worth of the guardian
- Salary certificate from employer both the applicant & guardian if any
- Copies of financial requirements to pursue the course duly issued by the competent authority of the concerned educational institution
- Profile of the selected educational institution
- NOC of the employer to pursue the study
- Photocopy of valid Bangladeshi passport of the applicant in case of studies in abroad
- Open student file with MBL
NRB Global Bank
NRB Student Education Loan Scheme is designed to help potential students willing to fulfill their dreams by having higher education at Bangladesh
Who Can Apply
Non-residence Bangladeshi (NRB) to leverage the cost of higher education for their child
The loan will be allowed to leverage the cost of higher education of NRB’s Child, only in Bangladesh, that includes Admission fee, Tuition fee, Semester Fees, other fees, as stated by Educational Institutions, Living/Lodging.
Loan Limit: BDT 50,000.00 up to BDT 5, 00,000.00
Repayment Tenure: 12 months – 36 months
Rate of Interest: 14% p.a.
Shahjalal Islami Bank
Shahjalal Islami Bank has an Investment Scheme for Education to help parents cherish the dream of letting their children achieve higher education.
Any Bangladeshi creditworthy salaried or a self-employed person can avail of this facility for their Children.
Purpose of Investment
- To pay the Tuition fees.
- To pay the Hostel fees.
- To meet Travel expenses.
- Purchase of computers, books, etc.
- In Bangladesh: Maximum Tk. 7, 00,000/-
- In Abroad: Maximum Tk. 15, 00,000/-
Period: Maximum 60 months.
– In Bangladesh: 10% margin.
– In Abroad: 20% margin.
Equal monthly installments.
14.00% per annum
The student file must be maintained with Shahjalal Islami Bank Ltd.
Partial adjustment or Full Pre-payment of liability at any time allowed without any early settlement charge.
Besides these banks, there are more financial institutions that provide student/education loans. If you are looking for the best student loan available then you might compare all the information and then pick the suitable one for you.
Nahar Rimpy has a passion for writing. Being a professional social worker she loves working with people. She can write on different niches but the lifestyle, mental health, education, and social issues are her favorite areas of interest.