Interest Free Loan for Students in Pakistan
National Bank of Pakistan in
collaboration with four other major commercial banks in Pakistan is
offering interest free loans for students. These interest free loans
are aimed at helping students who need financial assistance to
continue their education. Loans are provided to students enrolled in
the disciplines of scientific, technical or professional education
within Pakistan at graduation, post-graduation or PhD level.
The loan amount will cover educational fee,
boarding charges and textbook expenses, but will not cover meals.
Student will be required to repay the loan amount in a maximum of
ten years starting for the date of loan disbursement. First loan
installment will start one year after completion of education for
which the loan was obtained or one year after getting first job,
whichever comes earlier.
Student should already have secured admission in any of 71
approved colleges or universities (PDF, 93KB) in Sindh, Punjab,
NWFP, Balochistan, Islamabad, Azad Kashmir and Northern Areas. It is
is required the student should have received 70% or more marks in
last public examination. There is also age restriction for applying
for this interest free educational loan program.
List of approved subjects for study is:
- Engineering
- Electronics
- Oil Gas & Petro-Chemical Technology
- Agriculture
- Medicine
- Physics
- Chemistry
- Biology, Molecular Biology & Genetics
- Mathematics
- Other Natural Sciences
- DAWA and Islamic Jurisprudence (LL.B/LL.M
Sharia)
- Computer Science/Information, System and
Technology including hardware.
- Economics, Statistics and Econometrics
- Business Management Sciences
- Commerce
Application forms for this interest free
student loan could be obtained from
designated branches (PDF, 93KB) of National Bank of Pakistan (NBP),
Habib Bank Ltd. (HBL), United Bank Ltd. (UBL), MCB Bank Ltd. (MCB)
and Allied Bank Ltd. (ABL). Further details about this scheme could
be found on the National Bank of Pakistan’s webpage for
student loan.
Last date
to submit application is February 27, 2010. Please share this news
with any student who might be in need of financial help.
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