30,00,000 Loan For Government Employs – Check How To Apply

If you’re a salaried employee in Pakistan seeking a reliable and convenient personal loan, the National Bank of Pakistan (NBP) offers the Advance Salary Loan—a tailored solution designed to meet your financial needs with flexibility and ease.

What is NBP Advance Salary Loan?

The NBP Advance Salary Loan is a personal financing facility available to salaried individuals who maintain their salary accounts with NBP. It provides quick access to funds for various personal expenses, including emergencies, education, or home improvements.

This loan is accessible to both permanent and contractual employees of federal, provincial, semi-government, and autonomous bodies.

اس لون کیلیے تمام وفاقی و صوبائی ملازمین عارضی یا مستقل اہل ہیں

Key Features Benefits فوائد اور معلومات

Loan Amount and Tenure

• Maximum Loan Limit: Up to PKR 3,000,000.
• Flexible Tenure: Repayment period of up to 4 years (48 months), subject to the terms of the employment contract.

Mark-up Rates

• Permanent Employees: Fixed annual mark-up rate of 23.5%.
• Contractual Employees: Fixed annual mark-up rate of 25.5%. National Bank of PakistanNational Bank of Pakistan

Repayment Method

Monthly installments are automatically deducted from the borrower’s NBP salary account, ensuring a hassle-free repayment process. If anyone among your family member is already receiving any government provisional or federal grant, then you can check the next installment by using 8171 portal service online.

Eligibility Criteria اہلیت

For Permanent Employees

• Employment: Must be a permanent employee of federal/provincial government, semi-government, or autonomous bodies.
• Salary Account: Salary must be credited to an NBP account.
• Age Limit: Applicant’s age at loan maturity should not exceed 59 years and six months.
• Service Tenure: Minimum of 3 years of service in the current organization.
• Income and Collateral: No minimum income or collateral required.

For Contractual Employees

• Employment: Must be a contractual employee of federal/provincial government, semi-government, or autonomous bodies.
• Salary Account: Salary must be credited to an NBP account.
• Age Limit: Applicant’s age at loan maturity should not exceed 55 years.
• Service Tenure: Minimum of 1 year of service in the current organization.
• Income Requirement: Minimum monthly income of PKR 70,000.
• Collateral: No collateral required.

Required Documentation درکار کاغزات

To apply for the NBP Advance Salary Loan, applicants need to provide:

• Copies of CNIC (Computerized National Identity Card) of the applicant and two references.
• Copies of employee ID cards of the applicant and references.
• Last 3 months’ salary slips or certificates.
• Customer undertaking.
• Employer undertaking.
• PEP (Politically Exposed Person) undertaking.
• For contractual employees: Attested copy of the employment contract or agreement.
• Personal guarantee on the standard format (IB-29).

Charges and Fees

• Processing Fee:
  • Fresh Customers: PKR 2,000 or 2% of the loan amount (whichever is higher), subject to a maximum of PKR 20,000, plus Federal Excise Duty (FED).
  • Rollover Customers: PKR 2,000 or 2% of the net fresh/enhanced amount (whichever is higher), subject to a maximum of PKR 20,000, plus FED.
• Verification Charges: Actual charges as per the verification agency.
• Early Payment Charges: 2% of the adjustment amount, plus FED.
• Documentation and Legal Charges: At actual cost.

Application Process

1. Online Application: Visit the NBP Advance Salary Application Form page to apply online.
2. Branch Visit: Alternatively, visit your nearest NBP branch to submit the application along with the required documents.
3. Notification: After submission, you will receive an SMS notification regarding the status of your application.

Additional Information

• Rollover/Enhancement Facility: Existing customers with a good repayment history can avail of the rollover or enhancement facility after four months of full adjustment of the previous loan.
• References: Two work colleagues’ references are required, one of whom must be of a higher grade. At least one reference should be a permanent government employee.
• Clubbing of Income: Permanent employees can club one additional source of income (rental, agricultural, or investment income) up to 35% of their gross salary for limit calculation

Conclusion خلاصہ

The NBP Advance Salary Loan is a flexible and accessible financial solution for salaried individuals in Pakistan. With competitive mark-up rates, a straightforward application process, and the convenience of automatic salary deductions, it stands as a viable option for those seeking personal financing.

For more details or to apply, visit the NBP Advance Salary page or contact your nearest NBP branch.