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Introduction

The Management of Wise Education Society is not only providing free education & skills training to its all orphan, deserving & talented students along with hundreds of educated unemployed youth belongs to other colleges but also provides interest free loans for students and their families.
This loan scheme is totally different scheme from the conventional loan system prevailing in our country. The unique feature of this scheme is that, we provide interest free loans to our skillful students & their parents. This scheme is based on very easy installments plan with mutual understanding of the parties (Wise + Students). The beneficiaries of the scheme are following:

Wise School & College Students

Skills Students belong to other Institutes

Parents of all Students

Wise has been providing this interest free loan scheme since 2016. The amount of loan depends upon the business proposal of the borrower (student or parent) with the help of this easy installments interest free loan scheme many students & their families have been started their self-earning and become earning member of the society.

Interest Free Loan Scheme Steps

  • Business proposal submission to Wise earning center.
  • Application submission process.
  • Laon approval by Wise earning center experts & CEO Wise.
  • Laon will be sanctioned on the recommendations of applicant’s Instructor for students & (for parent’s academic performance of their children should be up to mark as per Wise policy).
  • Finalization of installments with the consent of the applicant.
  • Loan disbursement to applicant.
  • Loan recovery on monthly basis.
  • Follow ups for loan recovery.

Loan scheme Eligibility Criteria (for Students)

  • The applicant should have a valid CNIC.
  • Having the ability to run/initiate business activity.
  • Age between 18 to 36 years for students.
  • Applicant should be economically active.
  • The applicant should not be Convicted of any criminal offence for which proceedings are in progress.
  • Applicant should have the capacity to provide two (2) guarantors other than family members.
  • Applicant should have a good social and moral character in the community.

Documents Required for Loan Scheme

  • 3 Copies of CNIC.
  • Latest Utility bills.
  • Latest photographs.
  • Two guarantors.
  • Personal Responsibility.
  • Postdated Cheques.
  • Copy of Nikkahnama (of married).
  • Additional documents might be asked if needed.

Loan scheme Eligibility Criteria (for parents)

  • The Primary criteria for parents depend upon the academic performance of his/her children at Wise College. (The student must score minimum 70% marks in all college monthly tests & Board/University Exam).
  • Maximum age limit is 60 years.
  • The applicant should have a valid CNIC.
  • Having the ability to run/initiate business activity
  • Applicant should be economically active.
  • The applicant should not be Convicted of any criminal offence for which proceedings are in progress.
  • Applicant should have the capacity to provide two (2) guarantors other than family members.
  • Applicant should have a good social and moral character in the community.