Students can now get a head start in achieving their goals with an Hatton National Bank Education Loan. The Hatton National Bank (HNB) offers a number of schemes to help you improve or add to your educational qualifications.
What loan schemes does HNB offer students?
Stage I School/tuition fees
- To meet school/tuition fees, cost of books, purchase of computers or any other educational needs
- The loan limit is LKR 100,000/-
- The maximum repayment period is 3 years (repayable in equal monthly instalments)
- Two personal guarantors of good standing acceptable to the bank or any other acceptable security must be named
- Attractive interest rate
Stage II 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
Stage III Career development
A Stage III Loan is designed 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
What are the eligibility criteria for the loans?
Stage I:
- The student’s parents must have the repayment capacity
- The parents must maintain a ‘Singithi’ Savings Account on behalf of the student
- In addition, parents must maintain/open an account for loan repayment purposes
Stage II:
- 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
Stage III:
- Professional practice/other sources, to meet the monthly commitment
