How To Get A Loan From A Bank For Higher Studies In Pakistan
If you are thinking of pursuing higher education with your chosen degree, it is important to have some financial backup. Here is how to get a loan from a bank for higher education in Pakistan.
Getting higher education in Pakistan is becoming more and more difficult with the increase in educational expenses. This is an obstacle to improving the literacy rate, which has already reached 58 to.
The concept of student borrowing is very popular among students living or studying in developed countries, including the United States, England, Australia, and Germany.
Organizations are now funding a variety of students, and the future looks bright!
Let’s take a look at the current list of financial institutions – or banks that offer student loans for higher education.
National Bank of Pakistan | NBP student loans
In collaboration with the Government of Pakistan, the NBP has launched a student loan scheme in partnership with major commercial banks.
Banks that are collaborating with the SLS (Student Loan Scheme) program:
SLS is managed by NBP and offers interest free loans to students who need financial assistance for higher education. Applicants must meet certain criteria to be eligible for this scheme.
QAU was quick to inform its student organization of future activities for the program:
How to get a loan | Application criteria
Please note: Students who receive a loan must repay it within a period of ten years, starting one year after graduation or 6 months after employment.
The student loan requirement should be 21 years or less for bachelor’s programs and 31 years or less for master’s programs.
Students must be 36 years of age or younger to apply for a PhD. Programs
To complete the application form, please visit this site. Provide required details and submit important documents online.
Standard Chartered Bank
Standard Chartered Personal Loan is a service you can’t ignore.
How to get a loan from a bank for higher education in Pakistan
- Various loan repayment options are available for one to five years, including additional payments.
- You can borrow up to 2 million PKR at a time.
- Interest rates are market competitive and well monitored.
- There are no security, no suicide bombers and no guarantors.
- Documentation is easy and processing is quick.
- There is an advanced facility in existing personal loans with standard chartered bank. Visit their site for details.
- A valid CNIC
- Correct CNIC copy
- Proof of salary slip / earnings
SCB rates vary with the gross salary mark, as shown in the picture above.
The bank offers a simple installment calculation for interested parties. Bank Al-Falah provides loans to Pakistani students wishing to study abroad. The bank provides assistance in the required currency as per the standard YOY scheme.