Cross over with NMB Bank
NMB Bank offers you a loan facility when your child’s school fees needs to be paid.
Ensure that your most precious gift is in school, always!
NMB Bank offers you a loan facility when your child’s school fees needs to be paid.
Terms and Conditions | |
---|---|
Who Qualifies | Salaried individuals who demonstrate ability to meet monthly repayments |
Schools Covered | Any school, for as long as the applicant qualifies for the loan |
Acceptable use of Funds | Payment of school fees only |
Loan Payouts | Minimum loan amount $500 per child. Maximum loan amount $100 000 per child. |
Interest Rate | 65% p.a. |
Arrangement Fees | 8% flat on the loan amount |
Insurance | 1% of the loan amount |
Debt to Income Ratio (DIR) | Loan repayment amount must not exceed 40% of net salary. |
Payment method |
|
School Fees Top Up | Can be considered provided that 50% of the original loan has been repaid |
Required Documentation |
|
Conditions |
|
*Terms and conditions apply