NIB Personal Loan

NIB personal loan

With over 30 banks operating in Pakistan with similar products, the competition lies within the domain of product pricing and features. However, NIB Bank has launched one of Pakistan’s most innovative banking products of 2013 – NIB Personal Loan. Different from the standard personal finance offerings in the banking industry, NIB personal loan allows individuals to avail up to Rs. 1 Million financing against their vehicles, at reduced markup rates. Some of the product’s salient features are as follows:

  • By ensuring collateral in the form of a vehicle for financing, NIB Bank converts a standard personal loan into a secured financing facility. This reduces the debt servicing costs for consumers; NIB Personal Loan charges markup rates between 18 – 22% as compared to the industry standard of 30-33% on personal loans.
  • Given the inflated auto vehicle industry of Pakistan, the appraised value of a used vehicle is often higher than the initial cost of purchase. Since NIB personal loan allows financing up to 60% of the appraised value for a 5 year old vehicle, this allows consumers to attain higher volumes of financing as compared to standard personal loans.
  • Most personal loan facilities in Pakistan are offered in tier 1 cities – Karachi, Lahore and Islamabad. However, NIB personal loans are being offered in Multan, Hyderabad and Faisalabad as well in addition to the tier 1 locations.

We, at MyBankersOnline, have always been strong proponents of consumer lending in Pakistan. Given the reduced discount rate in the economy, the banking sector should actively offer consumer financing products to the Pakistani consumer base in order to upgrade the standard of living in the country. NIB Personal Loan is a prime example of the banking sector opening its financing gates for the general public. Most individuals are in possession of vehicles aging less than 5 years; by pledging their cars, they are able to avail financing for personal needs at cheap costs. NIB Bank’s online infrastructure further allows ease of repayments for the consumers across the country. We strongly recommend NIB personal loan as an economical source of financing for education, wedding expenditures, vacations and other short term liquidity requirements.

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25 thoughts on “NIB Personal Loan

    • I’m salary personal & want to apply for personal loan, kindly intimate me about your procedure as well as contact, so I will be contact you.

  1. Har Khwahish Possible!
    Make your dreams come true with NIB Personal Installment Loan. Now you can get a loan starting from PKR 50,000 and pay easy installments, as low as Rs.1,500 a month. So it’s time to fulfill your wishes as now all is possible.
    Please contact on this number for NIB Personal Installment loan…

    Mobile…. 0333-3343454

  2. I want to be apply for Personal Loan in NIB Bank,
    Please be intimate me about the procedure
    I am waiting for your favorable & early response.

    Thanking You

  3. Faisal Khan February 11, 2015 at 10:54 am – Reply
    I have loan required
    Please One Lac Required
    I m Govt: Servant at Liaquat University Medical Health & Science

    Mobile: 0345-3598043 or 0312-6598043

  4. dear,
    what will be the monthly installment for Nib personal loan including markup plus kibor on amount Rs. 500000?

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