National Bank of Pakistan (NBP) on Sunday announced "Pak loan scheme 2010-11" for the students of public sector institutions. The NBP officials informed that government in collaboration with major commercial banks of the country including NBP, Habib Bank Limited, United Bank Limited, Muslim Commercial Bank and Allied Bank Limited launched the said scheme to facilitate needy students.
He said that under the scheme, financial assistance is provided by way of interest free loans to the meritorious students who have financial constraints for pursuing their studies in Scientific, Technical and Professional education within the country.
He said that students who has secured at least 70 percent marks in the last public examination eligible for Pak loan scheme. He informed that the maximum period of repayment of loan is 10-Years from the date of disbursement of first instalment.
Pak loan scheme is offered for the level of graduation, Post graduation, Phil and PhD students. He said loan seeking students send their application till March 28, 2011. Pak students loan scheme application forms are available in all branches of NBP and can be download from NBP website, he said. He said complete applications would be consider for loan scheme and merit should be top priority of bank.
It is pertinent to mention that the scheme is being administered by a high powered committee comprising Deputy Governor, State Bank of Pakistan, Presidents of the commercial banks and representative of Ministry of Finance.