KPK Govt Announces Interest-Free Loan Scheme
It is related to note that the Government of Khyber Pakhtunkhwa, in 2024-2025, also began the Interest-Free Loan Scheme for Employees. This specific scheme allows easy funds for government employees to obtain loans for assets difficult in house building, motor vehicles, motorcycles, and bicycles without any interest. The loans will be issued through the procedure of a ballot so that it is fair and transparent.
Kinds of Loans Given
Under the KPK Interest-Free Loan Scheme, four different kinds of loans can be employed by employees employed in the province, which are as follows:
House Building Advance
House Building Advance up to Rs 250,000 can be given to an employee to construct or repair a house. The loan amount is recovered in 120 monthly installments of Rs 2,084 each and no delay is allowed. This loan will be available to BS-01 up to BS-17 grade employees who must have spent a minimum of 10 years in the department with an upper age limit of 50 years.
Read More:Khushhali Cash Sahulat Loan Scheme 2024
| Details | Information |
| Program Name | KPK Govt. Interest-Free Loan Scheme for Employees |
| Start Date for Application | Ongoing (2024-2025) |
| Last Date for Application | December 10, 2024 |
| Official Site | Benevolent Fund Website, KPK Government |
| Loan Amount (Max) | Rs. 250,000 for House Building Loan |
| Repayment Time | 60-120 months, depending on the loan category |
| Eligible Employees | Permanent government employees of KPK |
| Application Method | Online or through district offices |
| Documents Required | CNIC, Service Certificate, Salary slips, Bank details, etc. |
Motor Car Advance
The employees in BS-17 and above are eligible for a car investment loan of Rs 200,000. Repayment shall be through sixty equal monthly installments of Rs 3,334/-. For motorcycle advance, the applicants must own five years of service at least and have an age of not more than 55 years at the time of attainment of the loan.
Employees can benefit from the facility by obtaining an advance of up to Rs 80,000 from BS-01 to BS-17 to obtain a motorcycle. The payment shall be made through 60 monthly installments of Rs 1,334. The minimum service is five years, and there is no upper age limit.
Advance on Bicycle
A bicycle may be gotten by the employee on a loan of Rs 8,000, under which he shall repay an amount of Rs 200 per month over 40 installments. There is no service, must, or age bar on this loan.
Read More: Khushhali Karobari Vehicle Finance Loan Scheme 2024
Eligibility criteria for KPK Govt Announces Interest-Free Loan Scheme
The following shall be eligible to gain an interest-free loan scheme:
Applicant must be a lasting employee of the KPK government.
Should have at least 5 years of service for car, motorcycle, and bicycle advances, and 10 years of service for house building loans.
The applicant’s age limit is 50 years for house loans and 55 years for car or motorcycle loans
Employees with earlier loans must have having clean refund history.
Employees must not be currently availing of any other similar loan facility.
Application Procedure
Application Process at KPK Interest-Free Loan Scheme:
It is quite frank to apply for the KPK Interest-Free Loan Scheme. Under are the steps of the eligible employees to submit to their applications:
Online Application
- Application forms can be submitted at the KPK Kind Fund website or related area office by employees. The forms will be studied and processed through the channel.
- Copy of CNIC
- Service Certificate from the concerned department
- Income slips of the last 3 months
- Bank account details
- Copy of permission of earlier loan, if any
- Passport-sized photos recent
Submission Process:
Application needs to be made online or in district offices before December 10, 2024. The money will directly get moved to the account of an employee after proper verification. -
Read More: Khushhali Pasbaan Loan Scheme 2024
Benefits of the KPK Govt Announces Interest-Free Loan Scheme
There are many benefits to the interest-free loan scheme:
No Interest: Employees will not have to pay any kind of interest on the loan as it is an interest-free loan. So, it’s monetarily beneficial for them.
Flexible Repayment: Loans can be paid back in small size monthly payments.
Transparency: The voting process is clear since the running selects a candidate through an impartial polling process.
Loan Application Deadlines
The government houses loan applications up to the following deadlines for expeditious processing:
For the Employees of Civil Secretariat: October 31 of every year.
Attached departments: October 31 every year.
District Government Departments: October 16 of every year.
How to Apply for KPK Govt Announces Interest-Free Loan Scheme
Following the support of the loan application, the candidate will be given an SMS notification that their loan has been accepted. The money will be left in their bank account to allow them to start outgoings or to recruit the activities they want to accept without waiting for the handiness of the money. Candidates may therefore check their loan status through the portal of the Kind Fund, or even through writing district offices.
Read More: Khushhali Sona Loan Scheme 2024
Conclusion
Probably this is a golden chance for the employees of local governments, as the KPK Govt Announces Interest-Free Loan Scheme will allow all of them to get financial support without any interest load. It may be house building, or for example, the buying of a car, or even getting hold of a motorcycle scheme is colorful, meeting all needs. If one meets the needful criteria, she/he should not be late in applying before time goes; otherwise, the deadline may guilt that he wasted such a beautiful originality by the Government of Khyber Pakhtunkhwa.
