Citizens Education Loan

Citizens Education Loan

Education is the most important investment one makes in life. Therefore, the Bank has brought the Education Loan, which aims to finance meritorious students who choose to pursue a higher education (Professional or technical) in Nepal and abroad. The loan is extended to students/ professionals desiring to pursue higher studies such as Graduation, Post-Graduation, Specialization and Vocational/Technical courses in the country or abroad. Citizens Education loan covers a maximum of 80% of expenses in connection with the studies of the borrower in the country or abroad.

Citizens Education Loan
5 %
Interest Rate
Citizens Education Loan
9.81 %
Base Rate
Citizens Education Loan
14.81 %
Total Interest Rate

Last Updated Date: May 17, 2022

Citizens Bank International Ltd

For economic growth and development of New Nepal, Citizen Bank International Limited believes in the liberalization, privatization and globalization. In the banking sector, Citizen Bank International Limited is one of the largest commercial banks. This bank is promoted by eminent personalities or business and industrial houses and reputed individuals. Citizen Bank International Limited is managed by the team of experienced bankers and professionals. This bank is moving forward in the banking sector with the vision of being the leading bank known for its excellence services. Citizen Bank International Limited is fully dedicated to meeting the financial needs of the customer and exceeds the customer satisfaction through innovative solutions. By promising to deliver the customer centered products this bank wants to be the trustworthy partner for the progress of individuals and institutions by giving excellent services. Founded on 20 April 2007 (2064/01/07) as the nation's 20th commercial bank, 'Citizens Bank International Limited' has its corporate headquarters in Narayanhiti Road, Kathmandu, at the heart of the country's financial sector. It has been managed by a team of seasoned bankers and professionals and is promoted by eminent celebrities, corporate and industrial houses and reputed individuals with a high social standing. All over the world, there are 110 branches and 99 ATMs.

Citizens Education Loan

REQUIRED DOCUMENTS

Documents required for Education Loan


  1. Loan application firm duly filled and signed in standard format of the Bank.
  2. Current account of the applicant / borrower.
  3. 2 Passport size photo of borrower and joint-borrower.
  4. Must be 18 years old or above and a holder of Nepali Citizenship.  
  5. Should show the income source of guardians to repay the installment amounts. 
  6. Photocopy of all academic records above SEE(Secondary level (transcript & character certificates).
  7. Should be admitted to respective colleges and institutions and proof of enrollments must be submitted.
  8. Be the student of Undergraduate/Bachelors, Graduate/Masters & above, or any other professional courses.
  9. Photocopy of passport with visa for studying abroad except India.
  10. Photocopy of admission confirmation letter/acceptance letter from the university/college incorporating admission fee, tuition, accommodation and others.
  11. Photocopy of land ownership certificate (Lalpurja) to be placed as collateral.
  12. Salary Certificate/Rental Contract/Financials of business/Other contract agreements if any, of parents.
  13. Photocopy of Tax/PAN/VAT certificate along with registration certificate (For self-employed).
  14. Other documents as requested by banks

What Is Education Loan?

An education loan is a sum of money borrowed to finance post-secondary education or higher education-related expenses. 

Education loans are intended to cover the cost of tuition, books and supplies, and living expenses while the borrower is in the process of pursuing a degree. Payments are often deferred while students are in college and, depending on the lender, sometimes they are deferred for an additional six-month period after earning a degree.

Types of Education Loans

Although there are a variety of education loans, they can be broken down generally into two basic types: federal loans which are provided by the government and other one is private loans.

Federal Student Loans

Various types of federal student loans exist, including direct subsidized, direct subsidized, and direct consolidation loans. If offered and accepted, funds will be issued by the federal government to the specified university to cover the student's academic costs. If there are remaining funds available, they will be disbursed to the student. A student may use these funds to cover other expenses that they incur while pursuing a degree. If a student qualifies for subsidized loans, the borrower’s interest will be covered while they are in school.

Private Student Loans

In some cases, the student loan package that a student is issued through the federal government may suggest that the borrower applies for additional funds through private lenders. Private student loans also include state-affiliated lending nonprofits and institutional loans provided by the schools.

Students can apply directly to individual private-sector lenders for funds. Similar to federal funds, the approved amount will be influenced by the school. If approved, funds for educational expenses will first be disbursed to the school to cover all bills expenses of students.Borrowers can apply directly to individual private-sector lenders for funds. Similar to federal funds, the approved amount will be influenced by the school a borrower is attending. If approved, funds for educational expenses will first be disbursed to the school to cover any pending bills; the remaining amount is then sent directly to the borrower.

How an Education Loan Works 

Education loans are issued for the purpose of attending an accredited college or a university and pursuing an academic degree. Education loans can be obtained from the government or through private-sector lending sources. Federal loans often offer lower interest rates, and some also offer subsidized interest. Private-sector loans generally follow more of a traditional lending process for application, with rates that are typical higher than federal government loans.

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