What is EduBridge Loan?
- This is a short-term loan provided by the bank to supply the required funds that must be shown in a bank account when applying for school admissions or entry visas for students planning to study abroad.
Advantages
- Easily obtain the required bank balance certificate ("Show Money") needed for overseas university admissions and visa applications.
- The standard loan term is six (6) months, with the flexibility to extend the duration if required for your visa processing.
- Parents can conveniently apply without the financial burden of locking up a large amount of upfront cash.
Rates and Charges
| (1) Interest | 14% per annum (6 months interest collected upfront) |
| (2) Service Charges | 1% on the total loan amount (One time only) |
Requirements
- A copy of NRC Card and Household Registration Card with a passport photo of the applicant
- Recommendation Letter from an official of your company mentioning your name, designation, name of company and your total service (Original document is required)
- Recommendation Letter from Ward Administration Office (Original document is required)
- A copy of Identity Card issued by your company
- Pay Slips for the last 3 months (Original document is required)
- Bank Statement for the last 6 months/Income tax receipts
- A copy of NRC Card and Household Registration Card with a passport photo of the customer
- Recommendation Letter from Ward Administration Office (Original document is required)
- Valid Business License
- Financial Statements for the last 3 years
- Receipts of Commercial Tax/Income Tax for the last 3 years
- Business Photos
Application Procedure
- Customers wishing to apply for a visa or university admission to study abroad should visit First Private Bank to make an inquiry.
- You must apply at the bank with the required documents, including the official, original Admission Letter issued by the respective school/university or genuine proof of enrollment.
- Once all submitted documents are complete and meet the bank's terms and conditions, loan approval will be granted within the designated timeframe.
- Upon loan approval, the loan agreement must be signed, and the 6-month interest plus service charges must be paid upfront in full. The loan amount will then be credited to the bank account for visa verification purposes.
