Many excellent banks provide student loans in Bangladesh to help students with their education expenses to build a better future. And over the years, the service is getting better and better.
However, getting a loan is not the most straightforward thing. Let’s go over how you can get the loan for yourself. Also, we’ll discuss which bank will provide the best service for your needs.
Student Loan in Bangladesh
Education can become a costly thing as we progress higher and higher levels of it. And when it comes to studying abroad, it can get out of hand for most people in our country. Student loans can be a life savior, in that case, allowing you to bear the expenses of your education easily.
Also, they typically have a lower interest rate and a lot of other perks that are perfect for students who want to achieve higher education. As the demand for student loans is growing, more and more banks in Bangladesh are providing the service of student loan, which is pretty amazing.
Check also: City Bank Offer Student Loan
How to Get Student Loan
There are a few requirements you need to fill first if you want to get a student loan. For most banks, you must be over 18 years old to get a loan from them.
Also, you’ll need to submit a few documents to get the loan. That includes your NID card, guarantor, your student id card, the certificate from the head of the institution. You have to attach these documents with the application. In the application, you’ll have to put the reason why you are applying for the loan.
If you have any trouble following all that, you can always ask for help from the bank you choose. They’ll gladly walk you through the whole process, making everything easier for you.
Best Bank for Student Loans
Now that you know how to get a student loan, it’s a great idea to check out some great banks that provide the best service in this field. That way you can get the best deal. Let’s check out a few of the best banks for a student loan in our country.
- Mercantile Bank Limited student Loan
- NCC Bank Education Loan
- Uttara Bank Student Loan
- EBL student Loan
- ShahjalalIslami Bank Student Loan
- One Bank Student Loan
- Grameen bank
Student Loan Interest Rate
If you know how banks run, you know that they can change the interest rate at any given moment. So, there is no fixed interest rate when it comes to student loans.
But right now, most banks are charging a 9 percent interest rate for student loans. Again, you need to remember that it’s not fixed at all, and the rate can fluctuate at any point. Also, the rate varies from bank to bank as well. So, be sure to ask your bank about it before getting the loan.
Hopefully, you find the guide helpful for getting a student loan easily. Make sure to go over it again if you have any confusion.