SBP to give Rs83m in interest-free loans

SBP approved Rs82.6 million in interest-free loans for deserving students for their studies in Pakistan


Our Correspondent August 21, 2021
The SBP kept the interest rate unchanged to support businesses during the Covid-19 pandemic. PHOTO: FILE

KARACHI:

The Apex Committee for Student Loan Scheme having representation from the State Bank of Pakistan, Finance Division and five major banks (NBP, HBL, UBL, ABL and MCB Bank) has approved Rs82.6 million in interest-free loans for deserving students for their studies in Pakistan. According to a statement issued on Friday, the amount, approved by the Apex Committee, will be disbursed to 518 deserving students of public sector universities across the country, studying in different disciplines of under-graduation, graduation and PhD studies. The objective of the Student Loan Scheme is to provide financial assistance to the meritorious students having insufficient means. Loans are granted for a maximum tenure of 10 years from the date of disbursement of first installment and are repayable in monthly installments after six months from the date of first employment or one year from the date of completion of studies, whichever is earlier. 

Published in The Express Tribune, August 21st, 2021.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

COMMENTS

Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ

E-Publications

Most Read