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Make your higher education dream a reality through a Student Loan

A good higher education is the key to a world of endless possibilities. More and more Sri Lankan students tend to get qualifications from both local and foreign institutions in the recent days. Thousands of foreign Universities and higher education institutions open their local branches here in Sri Lanka during the recent past. But still achieving the academic and professional qualifications is a dream for many due to the cost factor. Now that Sri Lankan banks offer lucrative loans for higher education your dream of achieving a world recognized qualification is not a dream any more. Listed below are the higher educational loan schemes offered by leading Sri Lankan Banks.

Hatton National Bank – Graduateship Educational Loan

Students can now get a head start in achieving their goals with an HNB Educational Loan. HNB offers a number of schemes to help you improve or add to your educational qualifications.

Eligibility criteria for the loan

  • If the student is under 18 years, the loan will be considered in the name of the parents of the student, who will have the repayment capacity
  • If the student is unemployed and does not receive an income, the loan will be in the joint names of the student and a parent who has the repayment capacity
  • The loan will be in the name of the student if he/she receives a permanent monthly income sufficient to meet the monthly commitment of the loan
  • In receipt of monthly net income acceptable to the bank
  • For professionals – Professional practice/other sources, to meet the monthly commitment

There are two types of loan schemes you could apply;

I. Higher studies

  • To meet expenses in connection with professional studies, higher education, etc., either locally or abroad
  • The loan limit will be considered on a case by case basis
  • A repayment period of up to 5 years (with a grace period if necessary)
  • For security, two personal guarantors of good standing acceptable to the bank or any other acceptable security must be named. Mortgage against immovable property for loans above LKR 300,000/-
  • Attractive interest rate

II. Career development

To meet career development expenses such as commencement of professional practice, training needs, enhancement of professional qualifications, etc. HNB will provide expert guidance so that you will have the best loan to suit your needs.

  • The loan limit will be considered on a case by case basis
  • A repayment period of up to 5 years with a grace period if necessary
  • Two personal guarantors of good standing acceptable to the bank or any other acceptable security
  • Mortgage against immovable property for loans over LKR 300,000/-
  • Attractive interest rate

Seylan Scholar Education Loan

Seylan scholar provides the financial backing to parents as well as professionals to meet the exorbitant costs that often overshadows a good education.

You can obtain a ‘Seylan Scholar’ Education Loan if you are…

  • Salaried employees
  • Businessmen
  • Professionals

What can you look forward to when obtaining a ‘Seylan Scholar’ Education Loan?

  • Maximum loan of  LKR 7.5 Million
  • Flexible repayment up to 7 years
  • Attractive Interest Rates
  • Financing up to 75 % of the cost
  • Security options – Assignment over salary, Guarantors or a Mortgage
  • Joint borrowers
  • Loan Insurance Cover for Death or Disablement
  • Free ATM/Debit Card & Internet Banking Facility
  • Credit cards with Special Offers
  • Speedy and efficient service from our island wide branch network with weekend banking

 

Sampath Bank Student Loan

Sampath Bank provide loan facilities for CIMA,SLIM,IPM,IIT,Royal Institute and Manipal University students.

Commercial Bank

You should be a student preparing for a professional examination or parent / guardian of such student, with adequate regular income to service the Loan. (If the applicant is a parent/ guardian, the student to be a joint applicant.)

Maximum loan amount would depend on the course of study and repayment capacity. Maximum Rs 3,000,000/-

People’s Bank

This facility is offered to meet the requirements of educational, living and medical expenses (Local / Abroad).

For Whom

  • Persons who are seeking higher education (Undergraduate & Post Graduate Studies)

 

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Sandun W

Sandun joined Lanka Help Magazine as a contributor in June, 2011. He has been consistently writing articles to our magazine. Many useful articles of this site are under Sandun's name.

About the author

Sandun joined Lanka Help Magazine as a contributor in June, 2011. He has been consistently writing articles to our magazine. Many useful articles of this site are under Sandun's name.

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