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NBP Interest Free Loan for Students in Pakistan

Pakistan Free Scholarships Programs


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Old 01-16-2010, 04:24 PM   #1 (permalink)
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Default NBP Interest Free Loan for Students in Pakistan

NBP Interest Free Loan for Students in Pakistan

NBP Student Loan Scheme


Pursuant to the announcement made by the Federal Finance Minister in his 2001-2002-budget speech, a STUDENTS LOAN SCHEME (SLS) for Education was launched by the Government of Pakistan in collaboration with major commercial banks of Pakistan (NBP, HBL, UBL, MCB and ABL). Under the Scheme, financial assistance is provided by way of Interest Free Loans to the meritorious students who have financial constraints for pursuing their studies in Scientific, Technical and Professional education within Pakistan.

The Scheme is being administered by a high powered committee comprising Deputy Governor, State Bank of Pakistan, Presidents of the commercial banks and representative of Ministry of Finance, Government of Pakistan.

ADMINISTRATOR OF THE SCHEME National Bank of Pakistan

ELIGIBILITY:

Under the scheme the students are eligible to apply for loans provided:

i) He/She has obtained admission on merit through normal course/procedure in the approved Universities/Colleges of the public sector mentioned hereunder.
ii) He/She falls at the time of admission within the age bracket of:-
For Graduation Not exceeding 21 Years For Post-Graduation Not exceeding 31 Years For Ph.D Not exceeding 36 Years
iii) He/She has secured at least 70% marks in the last public examination.
iv) He/She has undertaken the study of the subjects given below.
v) He/She is unable to pursue studies due to financial constraints.
TYPES OF LOAN:
The loan facility will be available for entire duration of the study for:-
Schedule Fee
Paid directly to the
University/College
Boarding expenses excluding meal charges Procurement of textbooks--- Disbursed directly to the student
REPAYMENT OF LOAN:
The maximum period of repayment of loan is 10-Years from the date of disbursement of first installment .The borrower shall repay the loan in monthly installment after one year from the date of first employment or one year from the date of completion of studies, which ever is earlier.
Under the Scheme, loans is available in the following subjects.



i) Engineering ii) Electronics iii) Oil Gas & Petro-Chemical Technology iv) Agriculture v) Medicine vi) Physics vii) Chemistry viii) Biology, Molecular Biology & Genetics ix) Mathematics x) Other Natural Sciences xi) DAWA and Islamic Jurisprudence (LL.B/LL.M Sharia) xii) Computer Science/Information
System and Technology including hardware.
xiii) Economics, Statistics and Econometrics xiv) Business Management Sciences xv) Commerce a

IMPORTANT INSTRUCTIONS:

Application Form will not be entertained if the same is not properly & duly filled in and found missing therewith the following documents.
i) Three Photographs of Student attested by not below the rank of BPS-17.
ii) Attested photocopies of Fee Challan raised/demanded by the Educational Institution and Boarding expenses (excluding meal charges).
a) Income certificate from the employer i.e. Government/semi Government/ Private service
b) Income Certificate from the area counselor of the Union Counsel i.e. for self employed
iii) Attested photocopies of: -
a) Domicile
b) Computerized N.I. Card.
iv) Attested photocopies of all educational certificates
a) Secondary School Certificate
b) Higher Secondary Certificate
c) Degree(s)
d) Marks Sheet/Transcript (Last Examination)
v) A certificate (in original) from the Vice Chancellor/ Principal/Registrar of the concerned University Letter Head confirming date of admission and completion date of study. vi) Four un-stamped self-addressed envelope (5 X 11).

OTHER INFORMATION:

  • Application Forms are available from the designated branches mentioned above or may be downloaded from National Bank of Pakistan website www.nbp.com.pk/studentloan
  • The students desirous of availing loan under the Scheme may apply on prescribed form for financial assistance subject to he or she has got admission on merit through normal procedure in the Universities/ Colleges afore-mentioned.
  • Applicants are required to submit their applications on the prescribed form, duly completed in all respect, to the designated branches indicated against each University/College by the given date.
  • Application shall be considered on merit according to the availability of funds. Any application which is not made on the prescribed form or is un-signed or does not contain the required particulars and documents or reaches late will not be entertained.
  • Students who have availed this facility in the last / previous year(s) need not to apply.
ONLY SUCH APPLICATION RECEIVED BY THE DESIGNATED BRANCHES ON OR BEFORE 27TH FEBRUARY 2010 SHALL BE ENTERTEINED. LOAN FACILITY IS SUBJECT TO AVAILABILIBITY OF FUNDS


Mr. Shamim Iqbal, Vice President,
Students Loan Wing,
Credit Management Group

National Bank of Pakistan,
Head Office, Karachi
Telephone No. 021-99213026 and 99212100- Ext.2637.
Fax. 021-99213021
Email nbpstudentloan@nbp.com.pk

SCHEDULE OF EVENTS:
1. Application forms will be available at above mentioned designated branches from:

24th December 2009 2. Last date of Application form submission at designated branches on:


27th February 2010 3. Designated branches will be dispatched all received application form from Students to Students Loan Scheme Wing, Head Office, Karachi on:
15th March 2010 4. Processing period of scrutiny of application form:
16th March to 30th June 2010 5. Expected date of Apex Committee Meeting for approval of cases:


25th August 2010 6. Final list of eligible students will be display on National Bank website www.nbp.com.pk/studentloan :
5th September 2010 7. Dispatch of sanctioned advice to the following:
  1. Designated Branches (Original Copy)
  2. Registrar of University / Colleges (Copy)
  3. Students (Copy)
  4. Parents (Copy)

30th September 2010 8. Successful students are requested to complete the legal formalities at designated branches within 45 days from the date of receipt of sanctioned advice.





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