Pan Asia Bank’s ‘Aspire’ loans sup­port fi­nanc­ing ed­u­ca­tion

Daily Mirror (Sri Lanka) - - FINANCE -

‘Aspire’ is a value-added ed­u­ca­tion loan scheme from Pan Asia Bank, which is known for its in­no­va­tive line of bank­ing prod­ucts. It is a unique ed­u­ca­tion loan scheme in­tro­duced by Pan Asia bank to sup­port fi­nanc­ing ed­u­ca­tion in Sri Lanka or abroad.

The Aspire loan scheme caters mainly for par­ents or sib­lings of who wish to spend on their chil­dren’s/sib­lings’ higher ed­u­ca­tion to com­plete recog­nised diplo­mas, de­grees in the Univer­sity Grants Com­mis­sion (Ugc)-ap­proved pri­vate/semi gov­ern­ment lo­cal uni­ver­si­ties, ed­u­ca­tion in­sti­tutes and for­eign uni­ver­si­ties both lo­cally and abroad and recog­nised pro­fes­sional ex­ams.

This loan can also be ob­tained by em­ployed pro­fes­sion­als to com­plete recog­nised pro­fes­sional ex­ams, Ugc-ap­proved ex­ter­nal first and mas­ter’s de­grees and Phds.

Aspire dif­fer­en­ti­ates it from other ed­u­ca­tion loans of­fered in Sri Lanka, due to its unique fea­tures. The min­i­mum loan amount that can be ob­tained is Rs.50,000, while you can go up to a max­i­mum loan amount of Rs.7.5 mil­lion. The max­i­mum re­pay­ment pe­riod is seven years and the in­ter­est rate is 16.45 per­cent p.a., which works out to only Rs.2,011 for ev­ery Rs.100,000. This loan can also be used to pur­chase a lap­top or desk­top com­puter up to a max­i­mum of Rs.100,000 in ad­di­tion to be­ing used to meet the cost of the study pro­grammes.

Aspire is not just an­other tra­di­tional loan sys­tem. Whether you are em­ployed or self-em­ployed, Aspire will as­sist you to achieve ed­u­ca­tional as­pi­ra­tions, be it for your own pro­fes­sional de­vel­op­ment or your chil­dren’s/sib­lings’ higher ed­u­ca­tion dreams. For ex­am­ple, salar­ied cus­tomers can ob­tain this loan with­out guar­an­tors or as­sign­ing the salary up to Rs.2.5 mil­lion, truly mak­ing the loan ac­ces­si­ble to many. The cus­tomer can step into any of Pan Asia Bank’s 85 branches is­land­wide and sub­mit a loan ap­pli­ca­tion and the bank prom­ises a fast and has­sle-free ser­vice on the pro­cess­ing of the ap­pli­ca­tion.

This loan fa­cil­ity has been de­signed in such a way that the loan amount will be di­rected to the re­spec­tive in­sti­tute or univer­sity as a draft/tt/di­rect trans­fer lo­cally or abroad.

With the Aspire ed­u­ca­tion loan scheme, Pan Asia Bank has en­abled par­ents to make a re­spon­si­ble choice for their chil­dren’s fu­ture that would help them face life’s real chal­lenges with con­fi­dence and reach their full po­ten­tial.

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