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.
| Loan Amount | USD 200 – 6,000 |
| Rate per Year | 17% - 18% |
| Average University Score | 60 – 69 |
| Repayment Method | Equated Monthly Installment (EMI) |
| Grace Period | Up to 54 Months |
Calculator
Result:
| Annual Interest Rate | Total Net Earned Interest | Total Deposit Amount | Total Amount at Maturity Date |
|---|---|---|---|
| 4.75% | 286.25 | 11,757.79 | 12,044.04 |
Payment schedule:
| No. | Earned Interest | Tax | Net Earned Interest | Monthly Deposit |
|---|---|---|---|---|
| 1 | 4.75% | 4.75% | 4.75% | 4.75% |
- 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
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)
