Interest free loan for Students In Pakistan

National Bank of Pakistan in collaboration with four other major commercial banks in Pakistan is offering interest free loans for students. These interest free loans are aimed at helping students who need financial assistance to continue their education.


Loans are provided to students enrolled in the disciplines of scientific, technical or professional education within Pakistan at graduation, post-graduation or PhD level.


The loan amount will cover educational fee, boarding charges and textbook expenses, but will not cover meals.


Student will be required to repay the loan amount in a maximum of ten years starting for the date of loan disbursement. First loan installment will start one year after completion of education for which the loan was obtained or one year after getting first job, whichever comes earlier.


Student should already have secured admission in any of 71 approved colleges or universities (PDF, 93KB) in Sindh, Punjab, NWFP, Balochistan, Islamabad, Azad Kashmir and Northern Areas.


It is is required the student should have received 70% or more marks in last public examination. There is also age restriction for applying for this interest free educational loan program.


List of approved subjects for study is:


Engineering
Electronics
Oil Gas & Petro-Chemical Technology
Agriculture
Medicine
Physics
Chemistry
Biology, Molecular Biology & Genetics
Mathematics
Other Natural Sciences
DAWA and Islamic Jurisprudence (LL.B/LL.M Sharia)
Computer Science/Information, System and Technology including hardware.
Economics, Statistics and Econometrics
Business Management Sciences
Commerce
Application forms for this interest free student loan could be obtained from designated branches (PDF, 93KB) of National Bank of Pakistan (NBP), Habib Bank Ltd. (HBL), United Bank Ltd. (UBL), MCB Bank Ltd. (MCB) and Allied Bank Ltd. (ABL). Further details about this scheme could be found on the National Bank of Pakistan’s webpage for student loan.


Last date to submit application is February 27, 2010. Please share this news with any student who might be in need of financial help.

The Possibilities of A Bad Credit Car Loan

Imagine this scenario. You're driving along the motorway on your way home from a hard day at work, when suddenly your car ceases to move. You figure something is wrong from all of the blue and black smoke that is pouring out from under the hood. You manage to get your hunk of metal towed to the nearest service garage only to get more bad news. The mechanics actual words being, it would be kinder just to shoot it tell you that your car is beyond repair. You're now in an awful situation. You need your car to get to work. However, buying a new car will be extremely difficult because you have had previous credit problems. You're at a loss for what to do. Well, the situation may not be as dire as you think. Many high street banks and lenders are now offering bad credit car loans. Bad credit car loans are designed to help people in these circumstances obtain financing for a car. Even those with serious credit problems in the past have been able to obtain a bad credit car loan.

You may be wondering how this works. Well, most banks and lending institutions realize that the majority of people get into trouble for 1 of 2 reasons. The most common is change of circumstances and the other is just mismanagement. Very few people get their through dishonesty. You may have gotten into debt trouble through loss of your job or a family break up. These circumstances caused you to have financial difficulty. Finance companies will look at your current situation and try to give you a loan based on that. If your have a job currently, and have been meeting your monthly obligations since your previous trouble, then your chances are fairly good.


Applying for a bad credit car loan is quite similar to applying for any car loan. However, you will be held to a different set of criterion. You may also be expected to pay a higher rate of interest than a standard car loan. However, it may be worth it when you consider the possibilities that this loan can give you. You can also ask for a lower rate once you have been making timely payments for sometime.


Don't let past credit problems get in the way of getting a car loan. Many people today are getting financing that have faced serious credit problems in the past. Bankruptcy and county court judgment no longer need to stand in your way. With the right bank or lending institution you can soon be on your way to driving that brand new car