Student Personal Loan
This product has been developed to offer financial assistance to students enrolled in Higher Education Programs. Currently, MCB Bank has formed a partnership with Lahore University of Management Sciences (LUMS) and is offering Student Personal Loans to all MBA and Executive MBA students of the University.
Minimum 21 years and maximum 45 years at the time of loan/first trance approval
Generally, the student meeting the following criteria shall be eligible for the loan:
- Be a Pakistani National.
- Has got at least 50% marks (or equivalent) in the last public examination (i.e. other than admission tests, e.g. GMAT, SAT, LMAT, etc.) The same must be confirmed by LUMS in writing.
- Must have a valid admission in and has provided admission acceptance to LUMS. Confirmation of finalized admission must be provided by LUMS in writing.
Maximum 80:20 of only Admission, Registration, Tuition, On-Campus Residence, and any other part/head/item of the fees that is payable in advance by the student to LUMS
Moreover, the loan shall not cover any amount that is refundable to the student later on.
Maximum PKR 1 million only