Education loan

“Asaka” Bank (PC) provides education loan for students’ education – citizens of citizens of the Republic of Uzbekistan accepted to full-time tuition of higher educational institutions on payable-contract base, to students, their parents or trustees (hereinafter referred as borrower).

Education loans for persons, accepted to the bachelor education are issued for the term to 10 years, to the magistracy – for the term to 5 years with introduction to these terms of study period in higher educational institutions.

Period of passing of urgent military service is not in the present term.

The following dimensions of interest rates are established on education loans provided by “Asaka” Bank (PC) according to the present Regulation:

• To orphans, foster children of “Mekhribonlik” nursing homes and handicapped persons from birth of I and II groups – is null interest rate (interest-free loan);
• to other categories of students – by floating interest rate not exceeding acting rate of re-financing of Central Bank of the Republic of Uzbekistan.

Interest rate by credit and the sum of interest payments by education loans charged by “Asaka” bank (PC) can be changed subject to change of rate of re-financing of Central Bank that shall be indicated in Credit Contract.

Payment of 50% of charged sum of interest payments for students from poor families is implemented from means of State fund of occupation assistance (hereinafter referred as Fund) by Regional Centers of occupation assistance. (Paragraph in the Regulation publishing of Ministers Committee of the Republic of Uzbekistan dd. 08.05.2007 # 95).