How to apply for student loan in Pakistan 2023

How to apply for student loan in Pakistan 2023

As you know that education is expensive in Pakistan and there is more poverty and less resources to fill this gap, but today I am going to share with you a best method to solve this issue and you will easily take loan in Pakistan.

First of all I want to aware you about mobile application free where most of students take loan and then fall in depression because of the high interest rate and there loan return time is limited.

But I will share you best options to take loan without any time limitation and you can continue your education without thinking about the loan.

As it is important to return the loan so if you take the loan form any specific site make sure to note down there limit and interest rate, if you find something not acceptable in society and in Islam then forget any of that method.

I am going to share you official and legal options to take loan and I will also share you there loan giving criteria in our list the first option is

National Bank of Pakistan

In National Bank of Pakistan (NBP) run Student Loan Scheme (SLS) which is best option for any student to take loan by visiting their nearby bank branch. If you are thinking about the durations, then don’t worry you have 10 years to return the loan, it means that you can complete your graduation in this duration.

The National Bank of Pakistan had claim that they have no Interest rate and any eligible student can apply without any hassle, now I will tell you about requirements to apply for student loan in 2023.

What are eligible criteria for Applying? 

• Student must have 70% in his recent exam
• Student must be 21 year old
• For post-graduation age must be 31 year
• If he applying for PHD must be 36 year old
• He/She is financially not strong to give his fees

Type of Loan

There are two types of loan one is schedule loan which they will paid directly to university other is Procurement of textbook means directly disbursed to student. The approval subjects are Engineering, Electronics, Agriculture, Physic, Biology, Computer, Business Management science, Natural Science, Chemistry, Mathematics, Commerce and more subjects you can see them in screen.

How to apply?

You can apply with the help of application form which is available at www.nbp.com.pk/studentloan download your application form and fill it. You can also get this form from the branch of National Bank Near your home. More information you will get in the application form and your nearby branch as well.

Akhuwat Foundation

The other option for student to take loan is Akhuwat foundation; Akhuwat is famous NGO and is working for betterment of country and to help needy people. They also provide no interest loan for students from 10,000 to 50,000.

Eligibility Criteria

• Student must have valid CNIC number
• Age must be 16-62 years
• Applicant should be economically active
• Applicant should provide two guarantors other from his/her family member

How to apply?

With your application visit to your nearby AIM branch with your documents, the team will discuss to you for further action and then they allowed you to apply for the loan scheme of Akhuwat.

Take with you: Applicant and Guarantors CNIC, your latest photo and address verification letter if available.

Al Khidmat Foundation

1mawakhat program of Al Khidmat Foundation offering student loan without any interest, you can visit their official website to know more about eligibility criteria and the method to apply, Al Khidmat Foundation gives more than 30,000 to students with the given interval of time.

Professional Education Foundation

Professional Education Foundation and PEF scholarship allows students to take loan for their studies, for that you need to visit your financial aid office of professional education foundation near you house and you will get loan and PEF scholarship in Zakat. For more information visit thepef.com

Take with you your personal CNIC, your father or guardant income certificate and salary slip.

All details related to your university including your student card, fee receipt and other document.

There are other more options available for students to take loan for their studies, but I suggest to apply one of them which I mentioned, because there is no any interest rate and they provide you full guidance and full support for your studies, they provide you valid information and is trustful for any student in Pakistan. So if you are student then don’t worry about your future and studies if you have no money you can take loan from any of the organization or bank with the method that I mentioned, best of luck from site and best of luck for your future.