Uttara Bank Education Loan is now available for bright students. If you want to ensure bright future of your child then you can apply for Uttara Bank Education Loan package. They are invited to apply study loan for higher education purpose. The authority has been set some criteria or terms for getting loan. You need to fulfil their criteria for getting loan.
Uttara Bank Education Loan Why You Apply?
- Any Bangladeshi individual who can able to repay bank loan.
- Meet the specific terms,
- If you are a salaried employee / employee of a multinational and medium to large local corporate
- Government, Semi-autonomous body or in reputed NGOs (Non Government Organizations) international aid agencies and UN bodies, and other employee acceptable the bank.
Loan Purpose: If you are not able to meet the educational expenses for your son, daughter or any other dependent then you can apply for the loan. Remember they are allowing home and abroad education purpose. So, if you want to apply for education loan then you can do it by filling their criteria. You can also read mercantile bank education loan purpose.
Interest Rate: 12.00% per annum with quarterly rest. The interest rate will remain fixed thought the duration of the Loan.
Availability Duration: Maximum 6 months.
Prepayment: Loan to be prepaid on payment of 2% breakage cost on prepayment amount.
Uttara Bank Study Loan Eligibility
- Age: Minimum age 25 years and maximum age at loan maturity up to 60 years (At the end of Loan duration)
- Confirmed salaried person, minimum three (3) years experience with 1 year employment in present organization for prepayment.
- Minimum Yearly income (Net BDT):Total yearly installments amount multiply by 3. Suppose your yearly installment is 100000 then your income must be minimum 300000.
- Depositor must live for at least 6 month in the same address.
Loan Size: Maximum loan Tk.3, 00,000 under this scheme.
Loan to Value Ratio: minimum 70% of the cost to be paid by the borrower
- A net worth statement of two personal guarantors.
- The bank accepts Personal Guarantee of your spouse/parents or any other family.
- You need to submit a post dated cheques for all installments.
- Another undated cheque for covering total amount of all installments
Loan Duration: Maximum 5 years
Method of repayment: Equal Monthly Installments.
Disbursement System: By making credit to customer’s savings/Current account.
First repayment date: 1st repayment will be starting at the end of one month from the date of loan paying.
Requirement Documents For Education Loan
- You need to submit recent Passport size photographs of applicant(s) and guarantor (s).
- Photocopy of your National ID /Passport of applicant (s) and guarantor (s)
- Latest Utility Bill such as (Gas/Water/Electricity etc. bill).
- Please attach your Study plan with budget.
- If you have Business Card/Office ID of applicant (s) and guarantor (s) then submit it.
- Latest Tax Certificate / E-TIN
- Net Worth statements of applicant (s) and guarantor (s).
- If you are a businessmen then show your 12 months bank statement and 6 months for others.
- Add your House or property rent or lease agreement. (if applicable)
- Collect your salary Certificate / Letter of Introduction.
- Professional Certificate issued by the concerned Institution.
If you want to know other bank require documents then read NCC bank education loan require documents.
There are many parents who cannot ensure their child’s higher education due to lack of money. They are worried about their child’s future. To help them, the bank has launched a one-time loan service.
With this loan you will be able to raise money for your child’s education. There are ways to repay the loan monthly. As a result, you can take advantage of small monthly loan repayments.
Remember, all the information about the education loan are collect from the bank authority. The information may be change by the authority. So, please insure that their terms and condition are not change.
You can also read One Bank ltd Education Loan.