Askari Bank Education Loan

Askari Bank provides Askari Education Loans to worthy and hardworking students who wish to or are currently enrolled in HEC-recognized colleges or institutes in Pakistan. This product is particularly developed to give financial aid to students for the cost of tuition, boarding, textbook purchases, and other connected expenditures.

You can apply for an Askari Education Loan to provide your child with the greatest education possible for their future success.

Eligibility Criteria

1.This option would be provided to children’s of borrowers and loan may be approved irrespective of salary release through AKBL or other Banks.
2. Students who match the following requirements are eligible to apply for a loan from Askari Bank:

• Must be a Pakistani citizen
• Applicant and co-borrower must have valid CNICs.
• At least 50% in the most recent Board / University exams.
• A valid admission to any recognised educational/technical/professional institution is required.
• Students who are already enrolled in a recognised university or institute may also apply for education funding.
• Hold a current admission to an educational, technical, or professional institution.
• SBP’s eCIB contains no defaults.
• At the time of admission, you should have been in the following age range.

Education

Graduation, Post-Graduation and MBBS / Engineering / Ph.D

Note: Age not exceeding 30 years

21 Years Salaried (For Borrower) and 18 Years Salaried (For Co-Borrower)

Repayment

Monthly equal instalments are due on the first of each month after loan disbursement via Direct Debit. Borrower shall submit Direct Debit Approval for the debiting of monthly instalments from his or her bank account.

Grace Period

There is no grace period, i.e. Monthly payments will be required on the first of each month after the disbursement of the Education Loan.

Pricing

16% to 19.99% (Fixed mark up rate)

Loan Tenor

1 to 5 years

There is no Bank’s schedule of charges

Maximum Loan Amount

Graduation PKR 300,000

Post-Graduation/Diploma PKR 400,000

MBBS / Engineering / Ph.D PKR 500,000

Note: The loan amount to a student for the entire duration of studies may cover the cost of the schedule fee, boarding, textbook purchases, and other connected charges. All such loans shall only be made available to the educational institute / university. None of the funds will be distributed to anybody other than the Institute/University.

How to Apply Askari Bank Education Loan

You can apply by visiting one of our branches or phoning our Voice & Virtual Center at 111-000-787, which is open 24 hours a day. Our knowledgeable team will assist you in completing your loan application form and other requirements.

Required Documents:

• • Completed application form in every way.
  • a copy of your valid CNIC
  • Salary Certificate / Salary Slip
  • 6 months’ worth of bank statements
  • Letter of agreement (For contractual employees)
  • Admission proof and educational papers

Check out more topics:

Student loan in Pakistan

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