The process of getting loans in Nigeria can be cumbersome for so many people because it comes with different processes and protocols which are involved in getting loans. One of the process involves the use of documents such as drivers license, national ID card etc. Lots of students in secondary and tertiary institutions have financial challenges in funding their education. Loans are therefore hard to get because most student do not have the collateral needed before they are giving loans. As a financial institution, Skye Bank has come to the rescue of students by helping them with loans to fund their education.
The student loan can be gotten by having a Skye Edu-Care Account. Due to the need of education, Skye bank has decided to support parents and students by giving loans for educational and academic payment in secondary schools such as school fees, and tuition fees for undergraduate and postgraduate studies abroad.
In order to enjoy the values and benefits of this loan, parents and the student (Account holder) are expected to have saved a minimum of at least 50% of the school fees, which is a requirement for the loan.
What is Skye Edu-Care Account?
The Skye Edu-Care Account is a financial credit facility by Syke Bank Plc which is provided for it’s customers to ease the burden of financing school fees, tuition fees.
How Do I Become A Skye Edu-Care Account Holder?
It is easy to have a Skye Edu-care account. Mind you that you must be an account holder with Skye Bank for you to have this account. If you don’t have an account with Skye Bank, you can open an account in any Skye Bank branch near you. You will be given a form to fill and with the necessary documents, you will be guided on how to open the account by the bank officials.
How Much Is The Minimum Deposit For Account Opening?
In order to open this account, customers are expected to make a minimum deposit sum of N50,000. This does not mean that you are paying to get the account or if the account is being sold. It will cost N50,000 for customers to enjoy the privileges of owning a Skye Edu-Care account.
What Are The Privileges of Opening A Skye Edu-Care Account?
There are many benefits and privileges which customers and students stand get with a Skye Bank Edu-Care account. They include:
- Students can save money in local and foreign currency domination.
- Students have an easy access of getting admission into affiliated institutions that offer students admission.
- The account is not restricted for students studying in Nigeria but the account can be used and operated by students studying outside the country.
- Students have access to educational credit facilities which varies up to a total fee of 70%.
- The account enables secondary school students to pay their school fees from their account.
- It doesn’t have a stringent repayment plan and the repayment plan is convenient for account holders.
What is the Eligibility for Having A Syke Edu-Care Account?
There are no restrictions to having and owning a Skye Edu-Care Account. Undergraduate students, postgraduate students, and candidates seeking admission into tertiary institutions can as well open this account as it helps them to further their education in any level.
In conclusion it is very impressive and encouraging to have such operating loan system provided to students in Nigeria just like its done abroad.