Education Loan
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Kist Education loan has been designed to meet the aspirations of students for completion of their studies both in and out of the country. Kist's education loan scheme provides loan for those students who demonstrate ability, drive and ambition but do not have the financial resources to achieve their goals.Who Can Apply?
Below mentioned Parents and guardians of the students- Permanent Salaried Individuals in continued service for minimum 2 years
- Professionals – at least in 2 years in practice.
- Self employed businessmen – at least 2 years in business
- High Net worth Individuals
Purpose
For the payment of admission fees, monthly fees, examination fees, books, stationery and instruments required for course undertaken by borrowing scholar.Salient Features
- Minimum Loan Amount Rs. 1,00,000 and Maximum Loan Amount Rs. 5 Million.
- Loan can be granted up to 90% of the Distress Value subject to the maximum loan limit.
- Maximum loan tenure of 15 years.
- Interest Rate 14.00% p.a. - 15.50% p.a.
- Management Fee of 1% of the sanctioned loan amount.
- Repayment in equated monthly installments basis.
Document Required
Identification Documents- Citizenship certificate or Passport of applicants/joint applicants & guarantors
- Personal net worth and family detail of applicants and guarantors
- Identification of the student & the documents relating to the purpose
- Family relationship certificate (if other documents not support to verify the relationship)
- Completed loan application form
Documents related with property to be mortgaged
- Copy of land ownership certificate (Lalpurja)
- Copy of land transfer deed (Rajinama)
- Copy of latest land revenue receipt.
- Original & copy of property location map (Blueprint)
- Copy of boundary demarcation certificate (Char Killa Pramanit from ward office/VDC)
- Original and copy of approved structure design (Naksa Pass) from Municipality or VDC.
- Certificate of “Construction Completed” certificate (Nirman Sampanna) from concerned Municipality and or VDC in case of ready built house to be mortgaged.
Documents related with Income Source
| Salary | Letter from the employer stating the Position, terms of employment (contract or Permanent), remaining tenure of service, total salary with all deductions and any liabilities to the employer if any. Proof of minimum 2 years continuous service is required. |
| Rental income | Copy of Rent agreement signed by lesser and lessee in presence of witness. - If the property is to be let out or there exists very high potential of rent income from such property due to it’s location, expected future income can be considered for the purpose of providing additional comfort. If the property is on rent on rooms, the rental income can be considered. |
| Income from transport business |
Copy of bluebook (ownership) Statement of income & expenses Route permit |
| Commission income | Agency certificate & certificate from the company showing total commission after TDS. |
| Medical Practitioners | Certificate from Nepal Medical Council, Letter from the employer |
| Other professionals | Self declared income statement signed by applicant |
| Business Income |
Registration certificate Tax/Vat registration certificate Last two years audited financials; Mgmt. Prepared financials supported by Vat/Tax return. |
| High Net worth Individuals | Bank account statements, copy of land ownership certificates, copies of blue book & other assets related documents |
| Agriculture Income | Land ownership certificate & agriculture income declared by local authority |
Other Benefits
- Anywhere banking at any of our 51 branches
- Above 80 ATMs to meet your cash requirement no matter where you are located.
- 365 days banking from Main Branch, Anamnagar.
- 24*7 convenience at no charges with Kist Mobile Wallet
- Clearing House Facility.
- Free ABBS Facilities.
- Free SSB Debit Card.
- Avail of facilities like Safe Deposit Locker.
- Instant Alerts facility
- Utility & Merchandise bill payment
- Nepal Telecom recharge card procurement
- SMS Banking facility
- E-Banking facility
