The government of Khyber Pakhtunkhwa has launched an interest-free loan scheme for employees, which will offer interest-free loans to the government employees of KPK especially under this program. The interest-free loans would be offered to the employees for acquiring assets which include house building advance, motor car advance, motorcycle advance, and cycle advance. It is an extraordinary chance for the employees. Keep reading till the end for the complete information about this program.
Scheme: Such advances, which are interest-free, and grants are available to employees on loans made without any interest on the following assets.
- House Building Advance
- Motor Car Advance
- Motorcycle Advance
- Cycle Advance
Such loans will be provided through the balloting system so that one can have clear proof of the amount taken. The term for paying back loans will be determined. This loan will be repaid in installments every month. It’s the most pleasing thing that this amount will not involve any additional interest.
خیبر پختونخوا کی حکومت نے ملازمین کے لئے سود سے پاک قرض کی اسکیم کا آغاز کیا ہے ، جو خاص طور پر اس پروگرام کے تحت کے پی کے کے سرکاری ملازمین کو سود سے پاک قرضے پیش کرے گی۔ سود سے پاک قرضوں کو ملازمین کو اثاثوں کے حصول کے لئے پیش کیا جائے گا جس میں گھر کی تعمیر ایڈوانس ، موٹر کار ایڈوانس ، موٹرسائیکل ایڈوانس ، اور سائیکل ایڈوانس شامل ہیں۔ یہ ملازمین کے لئے ایک غیر معمولی موقع ہے۔ اس پروگرام کے بارے میں مکمل معلومات کے لئے آخر تک پڑھتے رہیں۔
اس طرح کے قرضے بیلٹنگ سسٹم کے ذریعہ فراہم کیے جائیں گے تاکہ کسی کو لی گئی رقم کا واضح ثبوت مل سکے۔ قرضوں کی ادائیگی کے لئے مدت کا تعین کیا جائے گا۔ یہ قرض ہر ماہ قسطوں میں ادا کیا جائے گا۔ یہ سب سے خوش کن چیز ہے کہ اس رقم میں کوئی اضافی دلچسپی شامل نہیں ہوگی۔
Full Details of KPK Interest Free Loan Program
Interest free loan will be given on the basis of the following criteria:
- Motorcycle Advance: Rs 80,000 with Rs 1,340 monthly installments for BS-01 to BS-17 (60 installments with no extension).
- Bicycle Advance: Rs.200 monthly installments for BS-01 to BS-17 with Rs.8,000.
- Motor Car Advance: Rs 200,000 with Rs 3,334 monthly installments for BS-17 and above (with 60 installments, no extension allowed).
- House Building Advance: Rs. 250,000 with Rs.2,080 monthly installments for BS-01 to BS-17 (with 120 installments, extension will not be allowed).
Table: Quick Information
| Event | Date |
| Application Start Date | January 1, 2024 |
| Application Deadline | March 31, 2025 |
| Verification Period | 2-3 weeks after submission |
| Approval Notification | Within 5-7 working days after verification |
| Loan Disbursement Date | 5-7 working days after approval |
Eligibility Criteria for Interest-Free Loan Scheme for Employees
All the permanent government officials of the provincial government qualify for the criteria mentioned above. In this case, all of the following employees are permitted to apply for employee loan:
- The applicant should be a permanent government employee of KPK.
- A minimum of 5 years of service must be current to apply and be eligible for any loan for cycle advances only.
- The age limitation also varies with the type of loan. For instance, it is 50 years for housebuilding advance, and motor car and motorcycle advance is 55 years.
- The new loan is subject to the condition that the employee must have a clean repayment history, provided he or she possesses any previous loans.
- An applicant must have a salary within the range set by the government to qualify.
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Application Process for KPK Interest-Free Loan Scheme for Employees
- Government employees go online through the official KPK government portal or at designated district offices.
- Fill the form full required details.
- Attach the required documents and submit it.
- After submission the government will verify the details provided including employment status, years of service, and financial background.
- Once the application is approved the loan amount will be disbursed to the employee account within a few working days.
Required Documents for the KPK Interest-Free Loan Scheme
Employees applying for the loan must provide the following documents:
- Copy of CNIC
- Service Certificate from the relevant department
- Last three months’ salary slips
- Bank account details
- Previous loan clearance
- Recent passport-sized photographs
Submission Deadlines for KPK Interest-Free Loan Scheme
- Civil Secretariat: October 31 each year
- Attached Departments: October 31 each year
- District Government Departments: October 16 each year.