Those of you who are willing to have the
interest free loan in Pakistan, now the opportunity is available in the country. Commonly the age group which needs interest free loans is student who wants to carry on their studies but unfortunately they cannot get
education due to financial constraints. Fortunately, for those students there is an opportunity that they can interest free loans can carry on their studies.
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- Top 5 Banks for Interest Free Loan in Pakistan – A Big Advantage
Those of you who are willing to have the
interest free loan in Pakistan, now the opportunity is available in the country. Commonly the age group which needs interest free loans is student who wants to carry on their studies but unfortunately they cannot get
education due to financial constraints. Fortunately, for those students there is an opportunity that they can interest free loans can carry on their studies.
Are Interest Free Loan in Pakistan Available?
Such interest free loans are available all across world and various banks in our country have also started providing the interest free
loans. Once such loans are provided these can be easily repaid later in
life. Following are the banks in Pakistan which provide interest free loans.
The initiative of interest free loan was started after the Federal
Minister took the decision to provide the financial assistant to the
needy class of the society in collaboration with the commercial bank
with in Pakistan. These are loans which are provided to the students and
this amount covers tuition fee, dorm expenditures, and to finance the
coarse material.
Repayment Rules and Regulations
The repayment of loan has not hard rules and it has been tried to
make easy repayments. As for as the repayment of the loan is concern its
period has been extended possibly and it is extended up to ten years
which is a very feasible time period for those to whom the loan has been
disbursed. Moreover if the student gets the job he or she should
reimburse the loan soon after the six months of getting his or her job.
However if the student does not get the job she or he has relaxation up
to the period he or she gets the job.
Leading commercial banks of Pakistan play important role in providing financial assistance through providing interest free
loans to many of the meritorious students who face financial issue to
pursue their studies in carrying out their studies. This loan is
provided on the basis of merit and irrespective of the field in which
they are studying. Students from various fields, including medical,
engineering, and technical fields can get their loans from the following
banks.
The needy student who is willing to take loan can submit their applications to the following banks.
1. National Bank of Pakistan
2. United Bank Limited
3. Muslim Commercial Bank
4. Habib Bank Limited
5. First Women Bank
Specifically Interest Free Loan Bank for Women
Among all the above banks the First Women Bank provides interest free
loans to the females for their educational purpose. As for as the
eligibility for the loan is concern the applicant must be a Pakistani
citizen and he or she must be good at his academic performance, the
student must have secures seventy percent marks for the purpose for
being eligible to take the loan. In case of failure of the
eligibility criteria
the student will not be provided loan. In case the student is not
eligible for the loans he or she should not force the fund sanctioning
committee for the provision of the loan otherwise she or he will be
qualified from eligibility.
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