NBP Students Loan Scheme in Pakistan as National bank of Pakistan, well esteemed bank of Pakistan has announced loan schemes for the students to provide financial assistance so that they will be able to continue their educational career. This article will give you the information about the general eligibility criteria for this loan scheme and the way how you can get this loan.
Eligibility criteria for NBP students loan scheme:
- The candidates have to get admission on merit through the proper procedure in the public sector institution (school/ college/ university) that in mentioned in the list of institutes of the loan scheme.
- The age limit of the candidates of graduation is 21years, for post graduation is 31 years and for PHD graduates is not more than 36 years.
- The candidate should have minimum 70% marks in the last public examination.
- The candidate has to prove that he/she can not continue his/her education without this financial aid.
- The candidate must have chosen the subjects from the list below. These subjects are approved by NBP.
- Electronic, engineering, oil petro- technology, physics, chemistry, biology, genetics, molecular biology, agriculture, computer science, information technology and other science, Islamic law commerce.
NBP Students Loan Scheme Application form:
Application form can be bought by the selected branches of NBP. It can also be download from the official website of national bank Pakistan. The willing students have to apply through this form. The form should be completed in all respect. The in complete or incorrect form is not considered. You should also check whether you are eligible or not according to the criteria of student loan scheme. If not, don’t apply because it is of no use. The student who already have availed this opportunity in previous year can not apply. You have to submit the form before the due date. The list of the selected candidates will be upload on the NBP website after checking the authenticity of documents.
NBP Students Loan Scheme Repayment of loan:
The maximum duration of the repayment of the form is 10 years. The candidate has to repay it in monthly installment starting after the 6 month of either the degree completion or the first employment.
Benefits of student loan scheme:
This interest free loan scheme on easy terms and conditions has been facilitating a large number of students every year who may have quit their studies due to financial constraints. As long as, the borrower remains fair in his/her dealing and payments of installments, the bank also remains kind and helping to him/her.