Professional Documents
Culture Documents
banks of Pakistan according to the law of state bank of Pakistan. We choose the different credit instrument of national bank of Pakistan. The credit instruments are following:
Eligibility
Pakistani National with valid computerized national ID Card Over 21 years of age An account with NBP designated Branch Equity in the form of cash or NBP approved shares No default with any financial institution
Application Procedures
Obtain facility application form the NBP Marginal Desk at designated branches Fill in the application form and submit it to the branch On application approval, deposit equity as cash in the margin financing account
at the bank. Alternatively NBP approved shares can also be deposited in the NBP CDC Account (CDC A/c No. 2345) Start trading through comfortable & friendly trading centers establishment for Trading limit available for the amount of equity + bank financing. you (In collaboration with Taurus Security Limited a subsidiary of NBP)
Product Information
Financing Amount: 215,000/- @ 30%) Shares: As per NBP Approved List Available. Shares In Physical Form Not Acceptable. Trading: Allowed Only Through Trading Centers Created by NBP and Operated by Taurus Securities Limited (A Subsidiary of NBP) Rs.50, 000/ - To Rs.10, 000,000/-
Equity Requirement: In the Form of Cash or Shares or Both (Currently Minimum Rs.
Pricing
Fixed Price at the Time of Facility Sanction, Currently 6 Month Kibor + 3% (Per Annum)
Other Charges
On Time Application Processing Fee of 0.5% of the loan amount or Rs.5,000/(Whichever is lower) Brokerage Charges/ Fees/ Taxes/ etc. Charged At Actual On Brokerage Invoices
Requirements
Photograph of Applicant NBP Account - Current or PLS Marginal Financing Application Form Copy of CNIC Copy of CNIC of Two (2) References Borrower Basic Fact Sheet Duly Filled In Statement of Assets & Liabilities List of Shares, Given as Margin (Optional)
NBP KAROBAR
The Following 5 products have been developed and offered by our Bank under the NBP Karobar Scheme for the growth and development of small micro business to reduce the Un-employment in the country. However it is the prime responsibility of the Branch Manager To be prudent while considering the finance proposal under the above scheme. 1. 2. 3. 4. NBP Karobar Utility Store(5 year) NBP Karobar Mobile general store NBP Karobar Transport( maximum limit 2 lac) NBP Karobar PCO(max limit 2 lac period 2 year)
MARK_UP RATE
Floating rate of Markup as per Banks instruction. The mark-up of 3 months grace period to be recovered in the first 9 months of the repayment schedule.
SECURITY KAROBAR
Hypothecation charge overall stock/furniture which is applicable Lien marked under hire purchase agreement on the vehicle Personal guarantee of the applicant. Four undated crossed cheques, three of installment amount and fourth of full amount Registration of vehicle in joined name and borrower Mortgage of property offered as surety
One personal guarantee of an individual other than acceptable to the bank A person can give his/her guarantee only once during the currency of the finance.
Similarly The guarantor cannot become an applicant under the scheme until the finance in which He has guaranteed is fully adjusted
Document
The Branch Operations Manager will disburse the finance after execution of the documents as per Bank instructions.
INSURANCE KAROBAR
A. B. C. All the asset hypothecated/mortgaged with branch will be got insured. Life and disability insurance coverage of borrower to cover outstanding finance Financed assets insurance charges shall be borne by the borrower. However life &
account. disability Insurance charges of the borrower will be borne by the (GOP)
DISBURSEMENT KAROBAR
a) In case shop set-up of Utility Store Corporation Pay order will be issued in favor of supplier/vendor/manufacturer/authorized dealer. Pay order will be issued in favor of landlord for security deposit and advance rent. b) In case of other products Pay Order will be issued in favor of supplier at the time of delivery of the asset
REPAYMENT KAROBAR
I. II. III. IV. V. VI. Borrower will make monthly finance installments as pet the finance repayment Initially 3 months grace period will be allowed to every borrower. No payment is to be made during the grace period Monthly installment would comprise of principal, mark-up payment and insurance No penalty no early payment and balloon payments The payment to be made on installment due date. However in case of Referral schedules to be generated by the CAMS
payment.
Branch, Referral Branch will have up to 7 days to forward the payments to the Hub Branch.
Late payment fee will be calculated on the following. Rs5/per day for late installment for first month. Rs10/per day for late installment, if rental become overdue for more than I month
ELIGIBILITY
Under the scheme the students are eligible to apply for loans provided:
He/She has obtained admission on merit through normal course/procedure in the approved Universities/Colleges of the public sector mentioned hereunder. He/She falls at the time of admission within the age bracket of:For Graduation For Post-Graduation For PhD Not exceeding 21 Years Not exceeding 31 Years Not exceeding 36 Years
He/She has secured 70% marks in the last public examination. He/She has undertaken the study of the subjects given below. He/She is unable to pursue studies due to financial constraints.
TYPES OF LOAN
The loan facility will be available for entire duration of the study for:Schedule Fee Paid directly to University/College Boarding expenses excluding meal charges Procurement of textbooks--- Disbursed directly to the student the
REPAYMENT OF LOAN
The maximum period of repayment of loan is 10-Years from the date of disbursement of first installment. The borrower shall repay the loan in monthly installment after six months from the date of first employment or one year from the date of completion of studies, which ever is earlier.
Under the Scheme, loans are available in the following subjects. I) Engineering Ii) Electronics Iii) Oil Gas & Petro-Chemical Technology Iv) Agriculture V) Medicine Vi) Physics Vii) Chemistry Viii ) Biology, Molecular Biology & Genetics Ix) Mathematics X) Other Natural Sciences
Xi) DAWA and Islamic Jurisprudence (LL.B/LL.M Sharia) Xii) Computer Science/Information System and Technology including hardware. Xiii) Economics, Statistics and Econometrics Xiv) Business Management Sciences Xv) Commerce
Other criteria
The students desirous of availing loan under the Scheme may apply on prescribed form for financial assistance subject to he or she has got admission on merit through normal procedure in the Universities/ Colleges afore-mentioned. Applicants are required to submit/send their applications on the prescribed form, duly completed in all respect, to the designated branches indicated against each University/College by the given date. Incomplete application shall not be entertained. Students who have availed this facility in the last / previous year(s) need not to apply.