Student Finance

Student Finance is a specialized loan product developed to meet the expenses of tertiary (Bachelors and Masters Degree) and technical education. Financial facilities are available to meet tuition and other educational institutional expenses on semester or academic year basis. Loans can be repaid over short term by the parent of the student, or over medium to long term by both parent and student.

Eligibility Criteria Parent/Blood Relative Student
  • Annual income (net of business expenses) not exceeding PKR 500,000
  •  Valid CNIC
  • Age between 18-64 years
  • Permanent resident of the area in FMFB branch
  • Valid CNIC
  • Age between 18-29 years
  • Enrolled or seeking admission in graduate/post-graduate program in a HEC recognized institute, or FMFB selected Technical and Vocational Institute
  • Must have achieved at least 2.5 GPA points or 50% marks in the last completed requisite education
Type of Credit
  • Short and Medium Term Finance
Purpose of Credit
  • To support education in Bachelors, Masters, Technical and Vocational Training;
  • Loan will cover all expenses directly payable to the educational institution i.e. Tuition Fee, Examination Fee, Admission Fee, and Hostel Fee where applicable
Lending Methodology
  • Individual Basis
  • Loan will be given to Parent/blood relative of the student + the Student, under a Co-Borrowing Arrangement
Loan Amount
  • Maximum (For each semester/academic year): PKR 150,000
  • FMFB’s loan amount will be determined based on the remaining study period, for which a financial plan will be developed in mutual consultation
Loan Repayment
  • Option 1: Total Principal and Service Charges to be repaid over one semester/annual academic session
  • Option 2: Principal and Services Charges to be paid over an extended period of time, which will go beyond the study period
Loan Tenor
  • Option 1: 6, 12 months – Monthly/Bullet Installment
  • Option 2: 24, 36, 48 months – Monthly Installments
Collateral
  • Personal Guarantee
  • 3rd Party Guarantee
Required Documentations
  • Last educational transcript/mark sheet
  • University/College fee structure/brochure
Other Benefits
  • Credit-linked Life Insurance of Parent/Blood Relative

Other Terms & Conditions Apply