Interest Free Loan Scheme For Students by the Government of Paksitan

Government of Pakistan introduced new scheme for the students of public sector institution to provide interest free loan. According to the scheme all the student who are studying in the public sector departments for the years of 2021-22 and 2022-23. All student who are under education in Graduation, Post Graduation, M.Phil., and Ph.D. in public sector institutions can get interest free loan by the government of Pakistan. All the students who secured at least 70% marks in last examination degree and are financially weak to carry on their studies and want to continue their study may apply for the loan scheme.

Terms Conditions for the Loan Application:

All the applications will be acted upon according to the eligibility criteria and availability of fund. All the incomplete and late applications will not be accepted and considered. All the candidates who do not the eligibility criteria are requested not to apply, otherwise the there application will not be acted upon. Incase of influencing Student Loan Wing or Loan Sanctioning Committee candidate will be considered definitely disqualified, even the if the candidate is eligible and qualified.

Procedure to Apply:

All the eligibility criteria, approved subjects, approved institutions, designated branches, advertisement and application form are available on the official website of National Bank of Pakistan. All these thing can also be obtained from the designated branches following:
State Bank of Pakistan
Allied Bank

Eligibility Criteria:

Following is the eligibility criteria of the loan scheme:
Candidate has obtained admission on merit through normal course in approved universities/ Colleges of public sector mentioned.
Candidate age requirement at the time of admission is:
(Not more than 21 years for Graduation
Not more than 31 years for Post-Graduation
Not more than 36 years for Ph.D.)
Candidate must secured 70% marks in last examination degree.
Candidate must undertaken the study of approved subjects given.
Candidate is unable to carry on study due to financial problems.

Approved Subjects:

Oil Gas & Petro-Chemical Technology
Biology, Molecular Biology and Genetics
Other Natural Sciences
DAWA and Islamic Jurisprudence
Computer Science, Information
Business Management Sciences
Economics, Statistics and Econometrics

Repayment of Loan:

Maximum period of returning of the loan is 10 years after the payment of the first installment. Candidate or borrower will repay the loan in monthly installments after six months from the date of first employment or one year from the date of completion of studies, which ever he earlier.

The last date for the application is July 29th, 2022.

Leave a Comment