Individuals of middle and upper middle class income group with regular, adequate, steady and stable source of income. Social religious ceremonies like marriage, pasni, bratabandha etc. Higher education Refurbishment, Consumer durables. Medical treatment of family member Traveling
Last Updated Date: May 17, 2022
With the vision to become a Leading Bank of the country by providing premium products and services to the customers, thus ensuring attractive and substantial returns to the stakeholders of the Himalayan Bank was established in 1993. The most recent rating of Himlayan Bank Limited by Bankers’ Almanac as country’s number 1 Bank easily confirms their claim and to become the Bank of first choice is the main objective of the Bank. The mission of this Bank is to become the preferred provider of quality financial services in the country. There are two components in the mission of the Bank; Preferred Provider and Quality Financial Services; therefore at HBL they believe that the mission will be accomplished only by satisfying these two important components with the Customer at focus. The Bank always strives positioning itself in the hearts and minds of the customers. Legacy of Himalayan Bank lives on in an institution that's known throughout Nepal for its innovative approaches to merchandising and customer service. Products such as Premium Savings Account, HBL Proprietary Card and Millionaire Deposit Scheme besides services such as ATMs and Tele-banking were first introduced by HBL. Other financial institutions in the country have been following HBL’s lead by introducing similar products and services.
Documents required for 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.
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.
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.
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.
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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