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Mobilink Microfinance Bank Limited’s School Loan in Pakistan is designed to support educational institutions, the loan addresses financial challenges in areas such as staff development, quality enhancement, building construction, labs, asset purchase, and operational needs.
Here’s a brief overview table for the loan limit, eligibility criteria, and additional information about Mobilink Bank School Loan in Pakistan:
| Aspect | Details |
|---|---|
| Loan Limit | PKR 350,001 to PKR 3,000,000 |
| Eligible Institutions | Private schools and technical educational institutions registered with any government-approved authority |
| Franchise Proof | Evidence of franchise agreement and contract for schools affiliated with renowned educational organizations |
| Business Premises | Owned or rented premises for at least 2 years |
| Identification | Valid CNIC/SNIC |
| Financial Record | Clean eCIB and NADRA Verisys |
| Residency/Work | Resided for at least 1 year |
| Staff and Student | Staff: Up to 25 |
| Strength | Students: Minimum of 100 |
| Additional Information | Student loan program designed to support non-state schools, offering financial assistance for various needs such as staff development, building projects, lab facilities, and equipment acquisition. Available through MMBL’s nationwide branches. |
Recommended Reading: Student Loan In Pakistan For Abroad Study 2024 [Up To 50Lakh Via Top 5 Banks]
School Loan In Pakistan | School Loan In Pakistan {PKR 3-30 Lakh}
Table Of Contents
- School Loan In Pakistan | School Loan In Pakistan {PKR 3-30 Lakh}
- What Is Mobilink Bank School Loan Program?
- Student Loan Details
- School Loan Amount | School Loan Amount
- School Loan Eligibility Criteria
- Documents Required For School Loan In Pakistan
- Mobilink Bank School Loan Application Process
- School Loan In Pakistan Calculator
- Interest Rates And Markup Calculations
- Mobilink Bank Helpline
- FAQs | School Loan In Pakistan
Recommended Reading: NBP Student Loan Scheme | Interest-Free Loans For Students {Updated}
What Is Mobilink Bank School Loan Program?
Mobilink Microfinance Bank has launched a School loan program in Pakistan, aimed at supporting non-state schools, including local private schools and technical institutions.
School loan in Pakistan, accessible through MMBL’s nationwide branches, offers financial assistance of up to PKR 3 million to schools in rural, semi-urban, and urban areas.
The funds provided by the School loan cater to various financial needs of schools, including staff development, building projects, lab facilities, and the acquisition of necessary equipment.
Recommended Reading: Interest-free Student Loan In Pakistan (60K-3Lakh) | Kashaf Loan
Student Loan Details
School Loan Amount | School Loan Amount
Mobilink Microfinance Bank Limited (MMBL) has a School loan program in Pakistan, offering financial assistance in the range of Rs. 350,001 to Rs. 3,000,000.
Recommended Reading: Study Loan In Pakistan | Student Loan For International Studies
School Loan Eligibility Criteria
Criteria for Qualification for the MMBL School Loan in Pakistan:
| Requirement | Details |
|---|---|
| School Type | Private schools and technical institutions registered with any government authority |
| Franchise Proof | Schools with renowned educational organizations need to provide franchise agreements and contract |
| Business Premises | Owned or rented; if rented, must have been at the same location for 2 years |
| Identification | Must have a valid CNIC/SNIC |
| Financial Record | Should not be a defaulter of financial institutions or public utilities |
| Residency/Work Requirement | Must have lived in the current location for at least 1 year |
| Staff Strength | Up to 25 staff members |
| Student Strength | At least 100 students |
Recommended Reading: Student Loan In Pakistan For Abroad Study 2024 [Up To 50Lakh Via Top 5 Banks]
Documents Required For School Loan In Pakistan
Required Documents for School Loans in Pakistan Include:
- ID Proof: Valid Computerized National Identity Card.
- Financial Records: Valid and clean eCIB and NADRA Verisys.
- Customer Photo: One recent passport-size photograph of the customer.
- Utility Bill: Copy of the last paid utility bill for the school.
- Registration Certificate: Copy of the school registration certificate.
- Rental Agreement: Valid rental agreement, if applicable (covering the entire financing period).
- Franchise Proof: Franchise agreement, if applicable.
- Collateral Documents: Copy of property documents offered as collateral.
- Legal Opinion: Legal opinion on property documents.
- Property Valuation: Offered property valuation report from a PBA-approved valuator.
Mobilink Bank School Loan Application Process
Here is a step-by-step guide to applying for the Mobilink Bank School loan, whether online or through their branch network for prospective applicants:
| Step Number | Step | Description |
|---|---|---|
| 1 | Check Eligibility | Ensure that your educational institution meets the eligibility criteria specified by Mobilink Microfinance Bank Limited, including being a private school or technical institution registered with a government-approved authority. |
| 2 | Gather Required Documents | Collect all necessary documents such as ID proof (CNIC/SNIC), financial records (eCIB and NADRA Verisys), utility bills, registration certificate, franchise proof, collateral documents, legal opinion, and property valuation report. |
| 3 | Visit a Branch or Apply Online | Choose between visiting the nearest Mobilink Microfinance Bank branch or applying online through their website or mobile app. If applying online, ensure you have scanned copies of all required documents ready for upload. |
| 4 | Submit Application Form | Fill out the School loan application form provided by Mobilink Microfinance Bank, providing accurate information about your educational institution, financial needs, and contact details. |
| 5 | Provide Additional Information | Depending on the application process, you may need to provide additional information or clarify details related to your loan request. Be prepared to answer any inquiries from the bank’s representatives promptly and accurately. |
| 6 | Await Loan Processing | After submitting your application, wait for Mobilink Microfinance Bank to process your request. This may involve verification of documents, assessment of eligibility, and evaluation of your institution’s financial standing. |
| 7 | Receive Loan Decision | Once your application is processed, you will receive a decision regarding your loan request from Mobilink Microfinance Bank. This decision may include approval, rejection, or requests for further information or documentation. |
| 8 | Loan Disbursement | If your loan application is approved, Mobilink Microfinance Bank will disburse the approved loan amount to your institution’s designated account or provide further instructions for accessing the funds. Ensure timely compliance with any disbursement requirements. |
| 9 | Repayment Period Commences | Begin repaying the loan according to the agreed-upon terms and conditions, including the specified repayment period, monthly installments, and applicable interest rates. Maintain timely payments to avoid any penalties or adverse effects on your credit. |
| 10 | Maintain Communication | Stay in communication with Mobilink Microfinance Bank throughout the loan repayment period, addressing any queries, concerns, or changes in circumstances that may arise. Maintain accurate records of all loan-related correspondence and transactions. |
School Loan In Pakistan Calculator
Interest Rates And Markup Calculations
Here is a brief overview of the interest rates and markup calculations associated with Mobilink Microfinance Bank Limited’s School loan program, including the markup rate, eligible loan amounts, repayment period, and how the interest is calculated.
| Aspect | Details |
|---|---|
| Markup Rate | 34.00% |
| Loan Amount | PKR 350,001 to PKR 3,000,000 |
| Repayment Period | 12 to 120 months |
| Calculation | A markup rate of 34.00% is applied to the borrowed amount to determine the interest payable on the loan. The total interest payable over the repayment period depends on the loan amount and the duration of the repayment period chosen by the borrower. |
Mobilink Bank Helpline
- Phone: 051 2817070
- Helpline Number: 051 – 111 962 962
- Email: info@mobilinkbank.com
- Address: 3-A/2 F-8 Markaz Islamabad
Recommended Reading: NBP Student Loan Scheme | Interest-Free Loans For Students {Updated}
FAQs | School Loan In Pakistan
What is the loan amount range offered by Mobilink Microfinance Bank Limited (MMBL) for School loans in Pakistan?
MMBL offers School loans with amounts ranging from Rs. 350,001 to Rs. 3,000,000.
What is the Markup Rate associated with MMBL’s School Loan or School loan?
The Markup Rate for MMBL’s School Loan or School loan is 34.00%.
What are the eligibility criteria for MMBL’s School loan in Pakistan?
Eligibility criteria include being the owner of a registered Private School or Technical educational institution, having a valid CNIC/SNIC, and meeting residency/work requirements.
What documents are required to apply for the MMBL School loan in Pakistan?
Required documents include a valid CNIC/SNIC, financial records (eCIB and NADRA Verisys), customer photo, utility bill, school registration certificate, rental agreement (if applicable), franchise proof, collateral documents, legal opinion, property valuation report, bank statement, and details of expected capital expenses.
How can I contact Mobilink Microfinance Bank Limited for further information or assistance?
You can contact MMBL through the following:Phone: 051 2817070
Helpline Number: 051 – 111 962 962
Email: info@mobilinkbank.com
Address: 3-A/2 F-8 Markaz Islamabad
Recommended Reading: Interest-free Student Loan In Pakistan (60K-3Lakh) | Kashaf Loan
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