Education Loan
An Education loan is a type of product which provides financial support to people who wish to pursue higher education or to study a technical skill, such as pursuing a bachelor’s degree, master’s degree or intensive course. With an Education Loan, you can turn your dream profession into reality.
Eligibility Criteria:
- Between 18 and 35 years old
- Students who failed or passed the high school exam.
- University students who pursue associate/ bachelor’s degree.
- A person who wishes to study professional/vocational skill and has an educational level of at least secondary school level.
- Student/person must have a permanent address in Phillip Bank’s operating areas.
Tab 1 Content
Valid Identification documents:
- NID/Passport
- Staff ID
- KYC documents
Business and Income Proof:
- Certificate of business existence
- Relevant financial documents
- Bank account statement
- Salary slip
Other Requirements
- Real estate property document (Soft or Hard Title)
- A cash deposit (Savings Account/ Current Account/ Term Deposit Account within the Bank)
Tab 2 Content
| Loan Amount | USD 200 – 6,000 | USD 200 – 6,000 | USD 200 – 6,000 |
| Rate per Month | 1.40% and above | 1.35% and above | 1.30% and above |
| High School Grade | E | D | A, B, C |
| Average University Score | 60 – 69 | 70 – 79 | 80 – 100 |
| Repayment Method | Equated Monthly Installment (EMI) | Equated Monthly Installment (EMI) | Equated Monthly Installment (EMI) |
| Grace Period | Up to 54 Months | Up to 54 Months | Up to 54 Months |
