National Bank of Pakistan Implements Interest-Free Student Loans

The National Bank of Pakistan has implemented the ‘Student Loan Scheme’ (SLS), where they welcome applications from students to apply based on merit alone.

The inception of the SLS program saw local banks such as NBP, HBL, ABL, and MCB providing interest-free loans to talented students who were financially struggling, allowing them to complete their studies.

The scheme focuses on different areas of education, covering courses in fields such as Science, Natural Science, Technology, Engineering, Medical, Agriculture, Business, Mathematics, Commerce and Islamic Law. With the deadline approaching on the 29th of July, students have to make sure they apply punctually.

Which students can apply?

How does one apply for this loan? Firstly, certain traits need to be met, i.e. being suitable to be a candidate for the role. However, what makes a potential student eligible is their current academic progress status, including a 70% result and their grade level in the country’s Public Education Sector Institutes. Grad, Post-Grad, and PhD students can apply for the SLS.

The age range for students applying is as follows:

Under 21 for graduation

Under 31 for post-graduation

Under 36 for a PhD

How do you apply?

Students can apply through the official National Bank Website, which contains all the information needed to participate in the interest-free loan. The list of documents required includes:

Two legitimate photographs

Attested copies of your fee challan issued by the respective institute

Copies of the CNIC of the students and their guardians

Attested copies of all academic certificates and transcripts

A copy of an income certificate has to be then verified.

For more details, the official site provides a list of requirements and measures which must be taken before filling out the application form.

However, the applicants must submit the collective documents to the nearest NBP branch.

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