Solutions to financing your college education.
At The Bank of Nevis Ltd, we believe that in today’s increasingly competitive world, it’s wise to invest in your education. We are aware that financing your tertiary education can be expensive. That’s why we have designed our student loans with affordable rates of interest and flexible repayment terms. And with the option to make interest only payments pending completion of your studies, a Student Loan from The Bank of Nevis Ltd is the right solution for financing your undergraduate, graduate or even post graduate studies whether on campus, via distance learning or online. Why wait … apply today!
Remember to submit your application well in advance of your course start date in order to avoid the risk of not receiving your funds in time for the commencement of your studies.
To expedite the application process, we ask that applicants submit the following:
- Letter of request stating the amount required, studies to be pursued, security/collateral being offered and name of person who will responsible for repayments
- Acceptance letter from college or university
- Detailed breakdown of all school related fees (tuition, boarding and lodging, travelling expenses, economic costs, etc)
- Job letter or recent pay slip to confirm salary (If you are being paid during your course of studies)
- Income and expenditure statements
- Personal financial statements
- 10% contribution
All student loans must be fully secured. We would be happy to accept either cash, real estate, treasury bills, or any other means that we deem acceptable. Depending on the type of security provided, one or a combination of the following documents will be required:
- Cash: Fixed deposit certificate
- Property: Recent property appraisal/valuation
- Treasury Bills
Successful applicants will enjoy the following benefits:-
- Interest rate of 9% per annum ‘reducing balance’ during course of study and 10% per annum ‘reducing balance’ upon completion of studies
- Grace period during which the student is not required to make any payments toward the principal. However, at a minimum interest only payments are required during the course of study
- Repayment term of maximum 10 years (maximum 4 years for study and remaining period to pay principal and interest)
And because we are just as committed to your success as you are, additional disbursements of funds will only be made on receipt of official transcripts/results/grades providing evidence of the successful completion of each of your semesters.
Other terms and conditions apply.