NIC Asia Bank Education Loan interest rate 2083
NIC Asia Bank's education loan is priced at 6.57%–8.57% effective in Bhadra 2083: a 5.57% base rate plus a 1%–3% premium. That ranks 9th cheapest of the 18 commercial banks we track for this product. On Rs. 10 Lakh over 60 months the EMI is about Rs. 19,599, plus a 0.5% processing fee.
- Effective rate
- 6.57% – 8.57%
- Base rate
- 5.57%
- Premium
- 1% – 3%
- Processing fee
- 0.5%
- Maximum tenure
- 180 months
- Maximum loan-to-value
- 80%
- Rank by rate
- 9 / 18
- Rates effective
- Bhadra 2083
Effective from: 1 Bhadra 2083Source: www.nicasiabank.com/interest-rates/
NIC Asia Bank Education Loan: effective rate 6.57%, EMI from Rs. 19,599 per month. Compare with 17 other banks.
Rate breakdown
Base rate
5.57%
Premium
1%–3%
Effective rate
6.57%–8.57%
Fixed
6.99%
- Processing fee
- 0.5% (Min Rs. 1,000)
- Prepayment penalty
- 0.77%
- EMI at fixed 6.99%
- Rs. 19,796 · Rs. 10 Lakh, 60 months
- Loan amount
- Rs. 2 Lakh – Rs. 1 Cr
- Tenure
- 12 – 180 months
- Max financing
- 80%
- Age
- 21 – 40 years
Highlights
- Nepal and abroad study
- Moratorium during study
- Covers tuition, living and travel
Who is eligible
Admission letter and fee structure required. Parent or guardian as co-borrower.
Documents you will need
- Citizenship certificate (copy)
- 2 passport-size photos
- Latest 6 months bank statement
- PAN card
- Admission letter
- Fee structure
- Passport (for abroad)
NIC Asia Bank Education Loan FAQ
What is NIC Asia Bank's current Education Loan interest rate?+
NIC Asia Bank's Education Loan floating rate is base rate 5.57% plus a premium of 1% to 3%, giving 6.57% to 8.57% effective from Bhadra 2083.
What is the EMI on a Rs. 10 Lakh Education Loan from NIC Asia Bank?+
At 6.57% over 60 months, the EMI is roughly Rs. 19,599. Use the calculator above to change the amount or tenure.
Can I prepay a NIC Asia Bank Education Loan?+
Yes. The published prepayment charge is 0.77% of the outstanding balance. Confirm with the branch, as some banks waive it after a minimum period.
