About Eduloan
As an education finance specialist, Eduloan is committed to making tertiary education both affordable and accessible to all aspiring students.Are you looking for a way to finance your academic education? You may want to consider student loans. There are many types of student loans out there. The key to finding the online loans for you is knowing about these payday loans. It is sad that many of the students in the academic networks are much familiar with online credit card and credit card application forms than educational loans,Car finance. For example, most of them don’t know that the graduate student loans are different from those of undergraduates!
Types of Student Loans
The first place to start when looking for education loans is to understand the types of student loans. They fall into three main categories, federal loans, private loans, and consolidation loans
Federal Loans
Federal loans are usually the first type of loans that students think of. These are the Stafford Loans, Perkins Loans, and PLUS loans. Each of these loans are subsidized by the government, but actually taken out through financial institutions that are not related to the government.
Stafford and Perkins loans are the most commonly applied for loans for undergraduates. They are usually considered to give applicants fairly low interest rates on student loans. The interest on student loans is set by the government and is controlled by the current economy. The Stafford loan currently has a 6.9% interest rate, and the Perkins loan is lower, at 5%. The Perkins loan is one of the types of graduate student loans that are out there, but you must be able to show that you have significant financial need to qualify.
PLUS loans for students are designed for graduate students who cannot apply for any other type of financial aid because they have used their options completely.
Private Loans
Private student loans are those offered by private institutions, such as a company or a school. Often students who do not qualify for federal aid can get a loan through a private program. A common type of private loan is a work study program for students, especially grad students. This gives the student a low interest rate on the loan in return for working for the college, university, or company.
Since private loans are offered by many different institutions, it is hard to say what the interest rate is on each loan. The best tip to finding a fair loan rate on a private loan is to advise you to shop around for the lowest interest rate on private student loans that you qualify for. This is probably going to be the best loan for you!
Eduloan In Bangladesh
Some private Banks in Bangladesh like HSBS Bank, Standard Chartered Bank, Eastern Bank Ltd, Prime Bank Ltd, Dhaka Bank Ltd and UCB Bank Ltd already started study loan programme for the prospective students for higher studies in home & abroad. Because in our country money is the main problem in the field of higher education. A large number of brilliant students stop their studies in school level due to financial crisis. They cannot take part in the development of the country. But population is the plus point of our country. A balanced education system and adequate finance are needed to turn this population into the power of development. In this regard entrepreneurs from private sector should take initiatives besides government. Some private Banks in our country have played vital role offering study loan to enlighten the nation. They provide loans with simple terms & conditions. Usually the guardians of the students must be service holder or businessman within the age of 65 years. Their monthly in come should be Tk.12000-Tk.40000. They get TK.5lacs- Tk.15lacs as loan for 5 years term. Interest rate is 16%-18.5%.
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HSBC Bank
- No personal guarantee or cash security.
- Loan amount ranging from BDT50,000 to BDT750,000 or a maximum of four times of your monthly income, whichever is lower.
- If you are an Auto Pay customer, you can get six times or if you are a CEPS customer you can get ten times of your monthly income up to a maximum of BDT750,000.
- Competitive interest rates. Low processing fees.
- You can repay the loan in 12, 24, 36 or 48 months.
- Loan against partial security is also available.
- Facility for opening Student File is also available.
- To open a student file student has to provide copy of college/university admission paper and proof of formal acceptance by student along with other documents.
Contact-
The Hongkong and Shanghai Banking Corporation Limited
Dhaka Main Office:
Anchor Tower, 108 Bir Uttam C.R. Dutta Road, Dhaka-1205, Bangladesh
Tel: (880-2) 9660536-43
Facsimile: (880-2) 9660554
Web: www.hsbc.com.bd
Prime Bank Ltd
Prime Bank Ltd. Provide study loan to the children of salaried persons in Govt./Semi govt. /Autonomous bodies/ Multinational Co./Banks/Insurance/Financial Inst./Educational Inst. with confirmed 3-years service ahead and businessman having adequate cash flow.
Required Documents -
Employer Certificate for Service Holders. Photocopy of Trade License for Businessmen. Photocopy of Tin Certificate, if any. Bank Account Statement of last six months. Photocopy of Passport, Telephone (T&T) Bill, if any. Evidence thereof.
Security-
01. Undated Cheques.
02. Two personal guarantees.
Contact-
Prime Bank Ltd.
Adamjee Court
Annexe Building-2,119-120,
Motijheel C/A, Dhaka-1000
Bangladesh
Phone- 9567265, 9570747-8 PABX
Fax- 880-2-9567230, 9560977
E-mail- info@prime-bank.com