Personal / Loans / Education Loan / Frequently Asked Questions
Frequently Asked Questions
What is the maximum percentage of study costs that can be financed with a uab Education Loan?
uab Education Loan can finance up to 80% of the cost of study.
What is the maximum loan tenor available for a uab Education Loan?
The maximum loan tenor is up to 5 years.
Are there any service charges for the uab Education Loan?
No, there are no service charges for the uab Education Loan.
Who is eligible to apply for the uab Education Loan?
Students with excellent academic records who have secured admission in reputed universities/institutions in Myanmar or renowned foreign universities/institutions are eligible.
What are the requirements for a co-applicant for the uab Education Loan?
Students under the age of 18 require a co-applicant who must be a Myanmar citizen and the student’s parent or guardian. The co-applicant must have a stable and reasonable monthly income.
What is the interest rate for the uab Education Loan?
The interest rate is 14.5% per annum for loans up to 15 million MMK without collateral.
What is the maximum loan amount available without collateral?
The maximum loan amount available without collateral is 15 million MMK.
What documents are required to apply for the uab Education Loan?
Required documents generally include proof of admission, academic records, proof of identity, proof of income for the applicant or co-applicant, and a completed loan application form.
Can I use the uab Education Loan to study both in Myanmar and abroad?
Yes, the uab Education Loan can be used for studying in Myanmar as well as abroad.
How is the loan disbursed to the student or institution?
The loan is typically disbursed directly to the educational institution or as per the terms agreed upon during the loan approval process.