Education
Loan for Academic Purposes (LAP)
Fixed loan amounts for primary, secondary and tertiary schooling, with a share deposit required before you apply.
Interest
1.25% reducing
Up to
$40,000 (tertiary)
Term
12-48 months by amount
Security
15% of the total loan value deposited on shares before application.
Primary and secondary
Borrow $5,000 (12 months), $10,000 (18 months) or $15,000 (24 months) at 1.25% reducing for school-level expenses.
Tertiary
Borrow $20,000 (36 months), $30,000 (42 months) or $40,000 (48 months) at 1.25% reducing.
Share deposit before you apply
15% of the total loan value must be deposited on shares prior to the loan application. This is not the Education Bundles family facility and is not SQEL.