NMB school fees loans enable parents to pay fees on time

NMB school fees loans enable parents to pay fees on time
Published: 06 September 2017 (897 Views)
Finding the money to pay school fees is a problem that most parents face as school holidays draw towards a close. The more school-going children there are in the family the greater the challenge the parents face.

NMB Bank has established a school fees loan facility to address this problem. Provided the loan applicant is employed, has no existing fees arrears with the school and is capable of repaying the loan, NMB Bank will pay the school fees directly to the school, allowing the parent to repay the bank over a period of between one and three months.

Parents who are not NMB account holders can access this facility provided their employers are able to effect source deduction for monthly repayments.

NMB chief banking officer Lionel Chinyamutangira said the loan facility is intended to help parents ensure that their children do not have any difficulties related to school fees payments when starting a new term.

"NMB is dedicated to providing banking services that are second to none. We appreciate that it is sometimes difficult to raise the full school fees amount required at one go.

"The school fees loan facility is designed to give parents some breathing space, so that they can satisfy the school's requirement for fees to be paid in full on or before the first day of term, while at the same time being able to spread the expense over a period of up to three months," he said.  

The documents required when applying for the loan are a completed application form, a current payslip, proof of residence and an invoice from the school, which must be submitted at any NMB branch nationwide.

- Agencies

Tags: NMB, schoolfees, loans,
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