Compare Educational Loans

Financial Institution	Product Type	Interest Rate	Max Tenure	Security	Min - Max Ticket Size
	Revolving credit facility	Contact Bank	7 years	One personal guarantee	Rs 100,000- 5,000,000
Bulk payments in advance	2 to 13 years
	Study guard loan	Conatct Bank	7 years	Contact Bank	Rs 100,000 - 15,000,000
Higher education loan	10 years	Rs 100,000 - 20,000,000
	Personal Loan for Higher Education	Contact Bank	5 Years	Contact Bank	Rs 100,000 - 5,000,000

Educational Loan

Interest Rate*: Contact Bank
Min- Max Ticket Size: Rs 100,000- 5,000,000
Subject to: 90% of the applicable admission fees/school fees/ higher education fees
Collateral: One Personal Guarantee

Product 1 - Finance Lump sum payment of annual school fees

Conditions: A revolving facility and existing loan facility to be settled in full prior to the subsequent loan

Product 2 - Finance admission fees/ Payment of annual school fees as a lump sum (multiple years)*/ Finance the Higher Education course fees

Max Tenure/s - up to 7 years

Last updated: April 6th, 2022

*Please check with the bank for the updated information

Educational Loan

Primary & Secondary Education (Schools)	Higher Education (Institute / University)
Study Guard Package Now you can apply for a loan coupled with a protection cover for an uninterrupted education for your child. Product 1 – Loan Min - Max Ticket Size: Rs 100,000 up to a Maximum of Rs.15 Million Applicable Cap: 100% Total fee requirement (Admission/Donations/Term fees etc.) Max repayment tenure: 7 years Disbursed directly to the School (Semi Government/ Private or International schools) Prerequisites: Offer letter to be obtained from the school Product 2 – Insurance Cover A special school fees protection cover to guarantee uninterrupted education of your child in the event of Permanent Disability, Critical illness or Demise of the Policy Holder. Policy Period: - 2 to 13 years Premium - One time premium payment option Prerequisites: Entry age of a Policy Holder (Parent/ Family Member/ Guardian/ Caretaker) 18 to 60 years	Higher Education Loan Min - Max Ticket Size: Rs.100,000 up to a Maximum of Rs.20 Million Applicable Cap: Up to 90% of course expenditure to be covered. (Registration fees / Course Fees / Examination fees etc.) Repayment tenure: up to 10 years Only interest can be paid during the Course Period + 06 months (Optional) Disbursed directly to the Educational Institute/ University Special benefits for the HNB youth account holders A laptop can be purchased with the loan

Primary & Secondary Education

(Schools)

Higher Education

(Institute / University)

Study Guard Package

Now you can apply for a loan coupled with a protection cover for an uninterrupted education for your child.

Product 1 – Loan

Min - Max Ticket Size: Rs 100,000 up to a Maximum of Rs.15 Million
Applicable Cap: 100% Total fee requirement (Admission/Donations/Term fees etc.)
Max repayment tenure: 7 years
Disbursed directly to the School (Semi Government/ Private or International schools)
Prerequisites: Offer letter to be obtained from the school

Product 2 – Insurance Cover

A special school fees protection cover to guarantee uninterrupted education of your child in the event of Permanent Disability, Critical illness or Demise of the Policy Holder.

Policy Period: - 2 to 13 years
Premium - One time premium payment option
Prerequisites: Entry age of a Policy Holder (Parent/ Family Member/ Guardian/ Caretaker) 18 to 60 years

Higher Education Loan

Min - Max Ticket Size: Rs.100,000 up to a Maximum of Rs.20 Million
Applicable Cap: Up to 90% of course expenditure to be covered. (Registration fees / Course Fees / Examination fees etc.)
Repayment tenure: up to 10 years
Only interest can be paid during the Course Period + 06 months (Optional)
Disbursed directly to the Educational Institute/ University
Special benefits for the HNB youth account holders
A laptop can be purchased with the loan

Last updated: 16th June 2023

*Rates are subject to change *Conditions applied

*Please check with the bank for the updated information

Educational Loan

Product 1: Variable Interest Rate Loan
Personal & Education Loan Rates
Interest Frequency	1 Month			6 Months
Salary Category	Salary Assignment	Salary Remitted	Standing Instruction	Salary Assignment	Salary Remitted	Standing Instruction
Salary Above LKR 250,000/-	AWPLR +2.75%	AWPLR +3.00%	AWPLR +3.25%	22.00% p.a.	22.50% p.a.	23.25% p.a.
Salary Between LKR 150,000/- & LKR 249,999/-	AWPLR +3.00%	AWPLR +3.25%	AWPLR +3.50%	23.00% p.a.	23.50% p.a.	24.25% p.a.
Salary Between LKR 75,000/- & LKR 149,999/-	AWPLR +3.25%	AWPLR +3.50%	AWPLR +4.00%	23.50% p.a.	24.00% p.a.	24.75% p.a.
Salary Between LKR 30,000/- & LKR 74,999/-	AWPLR +3.50%	AWPLR +4.00%	AWPLR +5.00%	24.00% p.a.	24.50% p.a.	25.25% p.a.

Products 2: Fixed Interest Rate Loan
Personal & Education Loan Rates
Interest Frequency	1 year Fixed			3 years Fixed			5 years Fixed
Salary Category	Salary Assignment	Salary Remitted	Standing Instruction	Salary Assignment	Salary Remitted	Standing Instruction	Salary Assignment	Salary Remitted	Standing Instruction
Salary Above LKR 250,000/-	22.00% p.a.	22.50% p.a.	23.25% p.a.	22.00% p.a.	22.50% p.a.	23.25% p.a.	22.00% p.a.	22.50% p.a.	23.25% p.a.
Salary Between LKR 150,000/- & LKR 249,999/-	23.00% p.a.	23.50% p.a.	24.25% p.a.	23.00% p.a.	23.50% p.a.	24.25% p.a.	23.00% p.a.	23.50% p.a.	24.25% p.a.
Salary Between LKR 75,000/- & LKR 149,999/-	23.50% p.a.	24.00% p.a.	24.75% p.a.	23.50% p.a.	24.00% p.a.	24.75% p.a.	23.50% p.a.	24.00% p.a.	24.25% p.a.
Salary Between LKR 30,000/- & LKR 74,999/-	24.00% p.a.	24.50% p.a.	25.25% p.a.	24.00% p.a.	24.50% p.a.	25.25% p.a.	24.00% p.a.	24.25% p.a.	24.25% p.a.

Product 1: Variable Interest Rate Loan

Obtain an educational loan at a variable interest rate

Interest Rate: AWPLR+2.75% to 25.25% p.a.
Interest Frequency: 1 month, 6 months

Product 2: Fixed Interest Rate Loan

Obtain an educational loan at a fixed interest rate

Interest Rate: 22% to 24.25% p.a.
Interest Frequency: 1 year, 3 years, 5 years

Min - Max Ticket Size: Rs 100,000 – 7,500,000 (Salaried employees) / 10,000,000 (Professionals)
Max Tenure/s: 5 years (Salaried employees) / 10 years (Professionals)
Applicable Cap: 60% of gross income

Last updated: February 23rd, 2023

*Please check with the bank for the updated information