Brief About Student Loan Scheme of NBP
Following to the news 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 teamwork 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 good students who have financial pressure for following their studies in Scientific, Technical and Professional education within Pakistan.
The Scheme is being administered by a high powered committee involve Deputy Governor, State Bank of Pakistan, Presidents of the commercial banks and representative of Ministry of Finance, Government of Pakistan.
PERSONAL LOANS
NBP is also avail personal loan for every person. May be you have been considering a major purchase or a trip that would give you or your family great pleasure. A personal loan can help your plans jump off the study board and become a reality. You get lots of flexibility when it comes to choosing your term, monthly payment and repayment conditions, and your loan is usually approved within 24 hours.
Prime Minister Youth Business loan
Salient Features
Brief Description
Small business Loans will focus on (but will not be closed to unemployed youth, especially educated youth looking for establishing or extending business enterprises.
Eligibility criteria
All Men/Women holding CNIC, aged between 21 and 45 years with ambitious potential to apply from designated branches mapped with area of home/business.
Security Requirements
One warrantor
Permissible Collaterals
Business charge
Focus on women
50% of loans will go to women borrowers.
Debt Equity ratio
90:10
The borrowers’ contribution of equity would be in the form of cash or stationary property and will be required after approval of the loan.
Loan Period
The maximum tenor of the loan is 8 years, including one year’s grace period
Pricing
8% fixed for borrower. Government will pay the difference of the cost of KIBOR + 500 bps.
Number of loans
100,000
Size of Loan
Up to Rs 2,000,000 (Twenty Lacks)
Allocation in budget
Rs. 5 Billion
Executing agency
In the first instance, National Bank of Pakistan (NBP) and First Women Bank Limited (FWBL) under the guidance and supervision of State Bank of Pakistan ( SBP) to ensure participation of private banks:
a) Private banks will be required to participate in this scheme on the basis of soundness of business proposals.
b) SBP will restore private banks to build this case sufficient with their size.
c) SBP will arrange good training for private banks to implement this scheme.
d) NBP will continue to play the lead role.
Sectors and Products
All sectors. Standardized schemes /projects/undertakings will be designed by SMEDA, projects designed by private sector service providers or individuals themselves will also be allowed.
Role of SMEDA:
a) The 50 feasibilities prepared and uploaded by SMEDA will be largely publicized and their access to public made clear through multiple relationship with other relevant websites.
b) SMEDA will work closely with Punjab Information Technology Board (PITB) to ensure that the schemes are usable to those who participate in PITB survey.
Application Form
The Form would be both in English and Urdu, and required minimum essential information with simple format.
The processing time will not exceed 15 days and will be so stated clearly in the application form
The form would be readily available both in branches and through dedicated websites of the banks.
Nonrefundable form processing fee will be Rs. 100 (One Hundred)
Monitoring
SBP will publish consolidated information about the loans extended under the scheme for information of the public on quarterly bases on its website
An effective Complaints Center to process and resolve complaints will be set up;
E-government directorate of Ministry of IT will provide support
Geographical Distribution
Whole of Pakistan. In case of Baluchistan, at least one branch of NBP will be designated per Division.
All non-designated branches will also provide and receive filled application forms and dispatch them to the nearest branches.
