If you are looking for loan because you need for personal use, for Business or for your home then this article will help you to get very basic knowledge about taking loan, here in this article we will discuss about National Bank Of Pakistan Loan and NBP Loan Scheme. Go through the whole article for understanding the loan scheme.

Following are the most popular National Bank Of Pakistan Loan.

National Bank Of Pakistan

National Bank Of Pakistan is the central bank of the country and it stands to provide notable banking and financial services not only in the country but also abroad. The National Bank Of Pakistan was established in 1949 right after the partition of British India into India and Pakistan. At present, National Bank Of Pakistan has more than 1400 branches across the country and it also has branches set up in foreign countries such as United Arab Emirates, Bahrain, Azerbaijan. National Bank Of Pakistan is one of the largest banks in the country and it is also one of the most efficient too. The National Bank Of Pakistan offers a wide range of services such as money transfer, remittances, investing, deposits, financing etc.  National Bank Of Pakistan has always been striving to provide nothing but the best for its customers and this is what sets it apart from other banks in the country.

What Is Loan

A loan is the amount of money that someone gives to someone else with the intention that it will be repaid. Loans are typically given with interest, which is the charge for borrowing the money. The terms of a loan will specify when and how the money must be repaid. Loans can be utilized for different purposes including

  • Buying a home
  • Starting a business
  • Consolidating debt etc

There are various kinds of loans and every loan has its own terms and conditions. It is necessary to carefully think about all the options before taking out a loan.

Why Loan Is Important

Loan is needful for a many reasons.

  1. Loan provides the funds necessary to make large purchases. For example, without loan, few people could afford to buy a house or a car.
  2. Loan helps to even out financial peaks and valleys. For example, when business is slow, loan can help to cover operating expenses and keep the business afloat.
  3. Loan can be used as a tool to consolidate debt and improve one’s financial situation. By consolidating high-interest debt into a single low-interest loan, borrowers can save money on interest payments and become debt-free more quickly.
  4. Finally, loan can provide peace of mind in times of financial hardship. Knowing that you have access to funds in case of an emergency can help reduce stress and anxiety.

For all these reasons, loan is an important part of many people’s lives.

NBP Loan Scheme

NBP provides different types of loan some of the important loan scheme are described below.

NBP Home Loan

NBP is provided home loan to salaried person or a self employed as well. Following are the requirement for taking this loan scheme.

For Salaried Person

  • Must be resident of Pakistan
  • Have national Id card
  • Age should be above 21 years old and up to 60 plus
  • Clear credit history
  • Minimum income should be 35000 pkr for having this facility
  • Length of service must be above 1 year
  • Mark up is 2%

For Self Employment

  • Must be resident of Pakistan
  • Have national Id card
  • Must be over 21 years old up to 60 plus
  • Clear credit history
  • Minimum income for taking this facility is 150000 pkr
  • Length of service or business must be above 3 years
  • Mark up is 3%

Note: Loan duration will vary from 3 to 20 years.

NBP Personal Loan

NBP is provided personal loan to their current employees or those organizations staff who are eligible for availing this loan scheme. An employee can take personal loan up to 20 advance salary, For example if a person is earning 20k net salary then he can take loan up to 400000.

This product is provided across the country. Following are the requirement for taking this loan scheme:

  • Personal must be permanent employee of federal, provincial or semi government organization
  • He or she can take loan up to 3,000,000 pkr  
  • Age should be under 59
  • No minimum income is required for applying this loan scheme
  • Person must have employee account in NBP, so they can directly debit your employee account when you have fund in your account or when you get salary.
  • Mark up is 22% fixed for per annum

NBP Business Loan

NBP provides business loan to small and rural enterprises, they provides:

  • Working Capital Finance
  • Medium Term Finance
  • Long Term Finance

A person who takes loan will need for following documents:

  • Loan Application Form
  • Financial Statements
  • Property Documents
  • Borrower’s Profile

Note: 60% coverage is for

  • Business Startup
  • Woman Borrower’s
  • Small Enterprises
  • Rural Enterprises

How To Apply For Loan In NBP

You can apply for a loan from National Bank of Pakistan (NBP) in a variety of ways.

  1. You can either visit an NBP branch and fill out an application form
  2. Or you can apply online via the NBP website

If you are applying online, you will need to provide your personal information, income details, and the amount you wish to borrow.

Once you have submitted your application, an NBP representative will contact you to discuss your loan options and complete the process. You can also apply for a loan by calling NBP’s customer service helpline.

It does not matter which method you choose but make sure you have all the necessary information on hand before starting your application to avoid any delays.

For more information visit the NBP site.

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Naveen Rajput

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