Streamline Your Search and Uncover the Best Products for Your Financial Goals

banner image

Education Loan

Unlock your potential with an education loan

banner image

Education Loan

Unlock your potential with an education loan

Education Loan

Education Loan

A bank provides an education loan to cover the costs of pursuing higher education, which is paid back over a period of time with interest. It is a popular way for students to finance their education when they cannot pay for it upfront.

Debit Card


Loan amounts Up to 10 Million (Without Collateral) Above 10 Million      (With Collateral)
Period of the facility Up to 5 years
Repayment Method Monthly EMI System
Minimum Monthly Income 1,000,000 MMK
Age of the borrower Must not be under 21 years old.
Must be at most 57 years old.

Loan Eligibility

  • Loan is eligible only to deserving students.
  • The bank will cover up to 80% of the total study cost. The applicant is responsible for raising the remaining 20% of the total study cost.

Eligible Borrowers

  • A student who wants to continue their education with Diploma, Bachelor or Master’s in external private Institutions and Universities.
  • Those who want to study in overseas Universities.

Personal Guarantee

  • Student along with father or mother as joint borrower.
  • If father and / or mother is no longer alive, the closet blood relative and the person who made the recommendation should be joint borrowers.

Collateral Security

  • 1 Mn MMK – 10Mn MMK (Nil)
  • Above 10Mn MMK (Must have collateral security of land, house, a car owner’s book, and a fixed deposit.)

Fees & Charges

Interest rates Up to 12% p.a
Service Charges 1% on loan amount
Early Repayment Nil

Requirement Documents

  • Completed application form
  • Passport photo + copy of NRC
  • Copy of Household Census
  • Original Testimonial Letter from Ward Administration Office

Salary Employee

  • Salary Slip (minimum 6 months)
  • Employment Confirmation Letter
  • Bank Statement (minimum 6 months)

Self Employed

  •  Business or Company Registration Documents
  •  Income/ Financial Statement (Operating Account)
  •  Tax Receipts

Related Education Documents

  • Copy of admission letter or offer letter of the Institute/University along with Fees schedule, course duration and fees.
  • Copy of the mark sheet and certificates for the most recent degree obtained
  • Details about the university or college or school where the student will be studying
  • Any other relevant documents to verify qualification