PRESENTED BY:

Name:
ROLL #
Class

BAHAUDDIN ZAKARIYA UNIVERSITY

MULTAN
 OH GOD OPENS OUR EYES.
TO SEE WHAT IS BEAUTIFUL
OUR MIND TO KNOW WHAT IS TRUE,
OUR HEART TO LOVE WHAT IS GOOD

Holy Prophet Muhammad (P.B.U.H)

The greatest social reformer

TO My Beloved Mother and Father

Who taught us?

The first word to speak
The first alphabet to write

And
First step to talk……

To
All those from whom I learnt
Who always remains?
In our heart
Through out the whole span of our life and are
Nearest, dearest and deepest
To us
 CONTENTS
INTRODUCTION TO NATIONAL BANK………………….1
MISSION STATEMENT……………………………………..2
SERVICES OFFERED BY NATIONAL BANK…………….3
FEATURES…………………………………………………...4
BRANCH LEVEL HEIRACHCY…………………………….5
OPERATIONS MANAGEMENT…………………………….6
FOREIGN EXCHANGE DEPARTMENT………………........7
OTHER RETAIL FUNCTIONS………………………………8
DOCUMENTARY CREDIT…………………………………..
SENIOR MANAGEMENT…………………………………….
DIRECTOR’S REPORT…………………………………………
FINANCIAL HIGHLIGHS……………………………………..
CORPORATE INFORMATION………………………………..
SWOT ANALYSIS…………………………………………….
CREDIT DEPARTMENT………………………………………
GUIDE LINE OF CREDIT POLICY………………………….
CREDIT CYCLE………………………………………………
ATM FINDER………………………………………………….
NBP PRODUCTS……………………………………………….
COLLECTION POLICY………………………………………..
TECHNOLOGY…………………………………………………
NOTICE OF 55TH ANNUAL GENERAL MEETING………….
BALANCE SHEET………………………………………………
PROFIT & LOSS STATEMENT…………………………………

CASH FLOW STATEMENT………………………………………

 MISSION STATEMENT

To be recognized in the market

place by Institutionalizing a merit
& performance culture, Creating
a powerful & distinctive brand
identity, Achieving top-tier
financial performance, and
Adopting & living out our core
values.

VISION AND GOALS

To be the pre-eminent
financial institution in
Pakistan and achieve market
recognition both in the
quality and delivery of service
as well as the range of
product offering
INTRODUCTION
National Bank of Pakistan maintains its position as Pakistan's premier bank
determined to set higher standards of achievements. It is the major business
partner for the Government of Pakistan with special emphasis on fostering
Pakistan's economic growth through aggressive and balanced lending policies,
technologically oriented products and services offered through its large network
of branches locally, internationally and representative offices.

We aim to be an organization that is founded on…

• Growth through creation of sustainable relationships with our customers.

• Prudence to guide our business conduct.
• A national presence with a history of contribution to our communities.

We shall work to…

• Meet expectations through Market-based solutions and products.

• Reward entrepreneurial efforts.
• Create value for all stakeholders.

We aim to be peopling who…

• Care about relationships.

• Lead through the strength of our commitment and willingness to excel.
• Practice integrity, honesty and hard work. We believe that these are
measures of true success.

We have confidence that tomorrow we will be…

• Leaders in our industry.

• An organization maintaining the trust of stakeholders.
• An innovative, creative and dynamic institution responding to the changing needs
of the internal and external environment
SERVICES OFFERED BY NATIONAL BANK OF
PAKISTAN

INTERNATIONAL BANKING

National Bank of Pakistan is at the forefront of international banking in Pakistan

which is proven by the fact that NBP has its branches in all of the major financial
capitals of the world. Additionally, we have recently set up the Financial
Institution Wing, which is placed under the Risk Management Group. The role of
the Financial Institution Wing is :-

• To effectively manage NBP’s exposure to foreign and domestic

correspondence
• Manage the monetary aspect of NBP’s relationship with the
correspondents to support trade, treasury and other key business areas,
thereby contributing to the bank’s profitability
• Generation of incremental trade-finance business and revenues

NBP offers:

• The lowest rates on exports and other international banking products

• Access to different local commercial banks in international banking

DEMAND DRAFTS MAIL PAY ORDER *

If you are looking for a
safe, speedy and reliable
way to transfer money,
you can now purchase
NBP’s Demand Drafts at
very reasonable rates. Any
person whether an
account holder of the bank
or not, can purchase a
Demand Draft from a bank
branch
TRANSFERS NBP provides another
Move your money reason to transfer your
safely and quickly money using our
using NBP Mail facilities. Our pay
Transfer service. orders are a secure and
And we also offer the easy way to move your
most competitive money from one place to
rates in the market. another. And, as usual,
our charges for this
service are extremely
competitive.
TRAVELER'S CHEQUE
Pak Rupees
Traveler’s
Cheques are a
negotiable
instrument
There is no restriction
Validity:
validity
At 700 branches of NB
Availability:
Negotiability: country
Encashment: At all 400 branches of
Limitation: No limit on purchase
NBP Traveler’s Cheq
Safety:
way to carry our mone

LETTER OF CREDIT COMMERCIAL FINANCE

NBP is committed to Let us help make your dreams become a
offering its business reality
customers the widest
range of options in the Our dedicated team of professionals truly
area of money transfer. If understands the needs of professionals,
you are a commercial agriculturists, large and small business and
enterprise then our Letter other segments of the economy. They are
of Credit service is just the customer’s best resource in making
what you are looking for. NBP’s products and services work for them.
With competitive rates,
security, and ease of
transaction, NBP Letters
of Credit are the best way
to do your business
transactions.
FOREIGN REMITTANCES

To facilitate its customers in the area of Home Remittances, PakRemit™

National Bank of Pakistan has taken a number of measures to: Remit funds
from USA to
• Increase home remittances through the banking system Pakistan

• Meet the SBP directives/instructions for timely and

prompt delivery of remittances to the beneficiaries

New Features:

The existing system of home remittances has been revised/significantly improved

and well-trained field functionaries are posted to provide efficient and reliable
home remittance services to nonresident Pakistanis at 15 overseas branches of
the Bank besides Pakistan International Bank (UK) Ltd., and Bank Al-Jazira,
Saudi Arabia.

• Zero Tariffs: NBP is providing home remittance services without any

charges.
• Strict monitoring of the system is done to ensure the highest possible
security.

• Special courier services are hired for expeditious delivery of home

remittances to the beneficiaries.
SWIFT SYSTEM

The SWIFT system (Society for Worldwide Inter bank NBP

Financial Telecommunication) has been introduced for SWIFT
speedy services in the area of home remittances. The Network
system has built-in features of computerized test keys, Click here
which eliminates the manual application of tests that
often cause delay in the payment of home remittances.
The SWIFT Center is operational at National Bank of Pakistan with a universal
access number NBP-PKKA. All NBP overseas branches and overseas
correspondents (over 450) are drawing remittances through SWIFT.

Using the NBP network of branches, you can safely and speedily transfer money
for our business and personal needs.

SHORT TERM EQUITY INVESTMENTS

INVESTMENTS
NBP now offers excellent rates
of profit on all its short term
investment accounts. Whether
you are looking to invest for 3
months or 1 year, NBP’s rates
of profit are extremely attractive,
along with the security and
service only NBP can provide.
NBP has accelerated its activities in the stock market
to improve its economic base and restore investor
confidence. The bank is now regarded as the most
active and dominant player in the development of the
stock market. NBP is involved in the following:
• Investment into the capital market
• Introduction of capital market accounts (under
process)

N.I.D.A NBP’s involvement in capital markets is expected to

National Income Daily increase its earnings, which would result in better
Account The scheme was returns offered to account holders
launched in December 1995 to
attract corporate customers. It
is a current account scheme
and is part of the profit and loss
system of accounts in operation
throughout the country.

MODE OF
CALCULATION:
AVERAGE BALANCE
DURING A
CALENDAR MONTH
INTERNATIONAL BANKING

National Bank of Pakistan is at the forefront of international banking in Pakistan

which is proven by the fact that NBP has its branches in all of the major financial
capitals of the world. Additionally, we have recently set up the Financial
Institution Wing, which is placed under the Risk Management Group. The role
of the Financial Institution Wing is :-

• To effectively manage NBP’s exposure to foreign and domestic

correspondence
• Manage the monetary aspect of NBP’s relationship with the
correspondents to support trade, treasury and other key business areas,
thereby contributing to the bank’s profitability
• Generation of incremental trade-finance business and revenues

NBP offers:

• The lowest rates on exports and other international banking products

• Access to different local commercial banks in international banking

DEMAND DRAFTS MAIL PAY ORDER *

If you are looking for a
safe, speedy and reliable
way to transfer money,
you can now purchase
NBP’s Demand Drafts at
very reasonable rates.
Any person whether an
account holder of the bank
or not, can purchase a
Demand Draft from a bank
branch
TRANSFERS NBP provides another
Move your money reason to transfer your
safely and quickly money using our
using NBP Mail facilities. Our pay
Transfer service. orders are a secure and
And we also offer easy way to move your
the most competitive money from one place
rates in the market. to another. And, as
usual, our charges for
this service are
extremely competitive.
TRADE FINANCE OTHER BUSINESS LOANS
AGRICULTURAL FINANCE CORPORATE FINANCE
NBP provides Agricultural Finance Working Capital and Short
to solidify faith, commitment and Term Loans:
pride of farmers who produce some
of the best agricultural products in NBP specializes in providing
the World. Project Finance – Export
Refinance to exporters – Pre-
Agricultural Finance shipment and Post-shipment
Services: financing to exporters – Running
finance – Cash Finance – Small
“I Feed the World” program, a Finance – Discounting & Bills
new product, is introduced by NBP Purchased – Export Bills
with the aim to help farmers Purchased / Pre-shipment / Post
maximize the per acre production Shipment Agricultural Production
with minimum of required input. Loans
Select farms will be made role
models for other farms and farmers Medium term loans and
to follow, thus helping farmers Capital Expenditure
across Pakistan to increase
Financing:
production.
NBP provides financing for its
Agricultural Credit: clients’ capital expenditure and
other long-term investment
The agricultural financing strategy needs. By sharing the risk
of NBP is aimed at three main associated with such long-term
objectives:- investments, NBP expedites
clients’ attempt to upgrade and
• Providing reliable expand their operation thereby
infrastructure for agricultural making possible the fulfillment of
customers our clients’ vision. This type of
• Help farmers utilize funds long term financing proves the
efficiently to further develop bank’s belief in its client's
and achieve better capabilities, and its commitment to
production the country.
• Provide farmers an
integrated package of credit
Loan Structuring and
with supplies of essential
inputs, technical knowledge, Syndication:
and supervision of farming.

Agricultural Credit
National Bank’s leadership in loan
(Medium Term):
 • Production and development
• Watercourse improvement
• Wells
• Farm power
• Development loans for tea
plantation
• Fencing
• Solar energy
• Equipment for sprinklers
Farm Credit:
NBP also provides the following
subsidized with ranges of 3 months
to 1 year on a renewal basis.
• Operating loans
• Land improvement loans
• Equipment loans for
purchase of tractors, farm
implements or any other
equipment
• Livestock loans for the
purchase, care, and feeding
of livestock
Production Loans:
Production loans are meant for
basic inputs of the farm and are
short term in nature. Seeds,
fertilizers, sprayers, etc are all
covered under this scheme.
If you require any further
information, please do not hesitate
to e-mail us.
syndicating stems from ability to
Forge strong relationships not
only with borrowers but also with
bank investors. Because we
understand our syndicate partners’
asset criteria, we help borrowers
meet substantial financing needs
by enabling them to reach the
banks most interested in lending
to their particular industry,
geographic location and structure
through syndicated debt offerings.
Our syndication capabilities are
complemented by our own capital
strength and by industry teams,
who bring specialized knowledge
to the structure of a transaction.
Cash Management
Services:
With National Bank’s Cash
Management Services (in process
of being set up), the customer’s
sales collection will be channeled
through vast network of NBP
branched spread across the
country. This will enable the
customer to manage their
company’s total financial position
right from your desktop computer.
They will also be able to take
advantage of our outstanding
range of payment, ejection,
liquidity and investment services.
In fact, with NBP, you’ll be
provided everything, which takes
to manage your cash flow more
accurately.
 FEATURES
National Bank of Pakistan is an established bank. It has some special features with the
help of those it is growing rapidly.

Outstanding Work Environment

As the work environment plays a great role in this competition age, so the bank has good
work environment. All the people work with co-operation; managers are so kind that each
problem can be discussed with them.

Efficiency
Employees at National Bank of Pakistan are quite efficient. They work more the working
hours and it is all according to their will. It also shows their loyalty, commitment to
organization.

Customer Services
All the customers are entertained individually. Same kind of behavior and attentions is
given to all customers.

Complaint Box
Getting ideas for improvement from the customer side is a new idea and that is working

Employee Benefits

Employees are given the benefits like bonus, gratuity funds, increments, house rents,
medical and conveyance allowances.

Computerized working Environment

In the bank, all the work is done remotely. All the entries are made using the systems
which are internally and externally integrated. This increase efficiency of the bank.
 BRABCH LEVEL HIERARCHY
MAIN BRANCH KHECHARY ROAD
MULTAN
OPERATIONS DEPARTMENT
Operations department of the National Bank of Pakistan is responsible for the overall
operations of the bank.

Operations department has following segments.

a) Cash
b) Clearing
c) Remittance
d) Account opening
e) Accounts department

The details of those departments that are controlled under operation department are as
under.
a) Account opening
b) Cash department
c) Clearing
d) Remittances

Account opening department

It is the most important department of bank. Following procedure is adopted for this
purpose.

Procedure of Account Opening

It is very simple and quick procedure. A person who wants to open an account must have
the introduction of bank’s staff or an already existing account holder of bank. The
customer is required to fill an account opening form. Then signatures of the Introduce are
verified from S.S. Card before opening account.
They also have to give identity letter
 CNIC copies
 Passport size photograph
Following Factors Prior To Opening of Account
Should Be Consider
1. The suitability of the perspective customers.
2. Verification of customer credentials.
3. The perspective possibility of profitability of the relationship.
4. The proposed relationship does not violate:
A. SBP rules and regulations
B. Applicable local laws
C. The bank’s internal policies

Current Account
1. No limitation on frequency or amount transaction
2. No profit payable

Saving Account
1. Profit is payable
2. No of withdraw restricted
3. Large amount of withdraws requires 10 days.

General Principles
1. No account will be opened on fictitious name.
2. All documents necessary required for opening account must be taken after
verification from original.
3. No operation of account should be allowed & check book must not be issued until
all formalities are confirmed.
4. Genuineness of introduction should be properly ensured.
5. All information of AOF should be filled at front of concerned officer.
TYPES OF ACCOUNTS
The bank deals in different accounts opening;
1. Individual Account
2. Joint Account
3. Business Account
4. Partnership Account

SPECIAL TYPES OF ACCOUNTS

These types of accounts only can establish after approval of system and operation
division head office:-
o Trust Account
o Account of executors/ administrators
o Account of liquidators
o Accounts of local authorities/ municipals.

CHEQUE BOOK ISSUENCE

When the Account is opened, then the customer is given a cheque book to sign upon and
withdraw money.
Cash Department
Cash department of National Bank of Pakistan works under the operation department.
This department is given the complete responsibility of cash, as result of transaction in
touch local and foreign currencies. It is also responsibility for the book keeping of these
transactions and the safe custody of cash. Out of five counters of cash department one
counter is fixing for senior citizens and females. All counters are dealing at the same time
in deposits, withdraw and online transaction processes.

This department performs the main function.

a) Cash receipts
b) Cash payments

Clearing Department
Before discussing it is necessary to know what is “Clearing”.

“The process by which cheques exchanged between the collecting and paying bank and
the ensuing financial settlement is called “Clearing”.

This facility is provided by the state bank of Pakistan for offsetting of cross obligations
between the different banks. Clearing is of two types:

1) Inward clearing
2) Outward clearing

Accounts Department
Account department is the most important department of the bank. Because it is
concerned with:

♦ Revenue
♦ Expenses
♦ Assets
♦ Liabilities

These are the pillars of any business. In this department, all the vouchers that are posted
during one day are sent to the account department next day. These vouchers are already
posted to computer by the concerned department.
 Types of Account
♦ Current Account
♦ Saving Account
♦ Notice Deposit
♦ Term Deposit

Remittance department
The need of remittance is commonly felt in today’s business. A major function of any
bank is to “transfer of funds from one place to another place” National Bank of Pakistan
Uses the following modes of transfer of funds.
• Demand Draft
• Telegraphic Transfer
• Pay Order
• Call Deposit
• Pay Slip
• Money transfer

COLLECTION DEPARTMENT
All the cheques under collection are called cheques under collection in National Bank of
Pakistan. There are two types of bills for collection:
 Outward Bills for Collection
 Inward Bills for Collection
FOREIGN EXCHAGE DEPARTMENT
“The transfer of credits to a foreign country to settle debts or account between resident of
home country and those of the foreign country” or “the Foreign bills currencies etc used
to settle such accounts”.

Foreign Exchange department deals within exports imports and Money transfer.
National Bank of Pakistan acts as importer bank as well as exporter bank for different
parties who are interested in the business of export & import.

DEFINE IMPORT
All goods and services brought into a country that were purchased from organizations
located in other countries.

DEFINE EXPORT
All goods and services sent from one country to another country.

Documents required for Export

The person who is exporting goods to the foreign countries requiring the following
documents.
• National tax number
• Registration with export promotion Bureau
• Sales tax registration
• Commercial Invoices
• Bill of Lading
• Packing List
• Bill of exchange
• Promissory Note
• E-Form
• Letter of Credit
• Certificate of origin
• Beneficiary certificate

After compiling the entire task by resident country that is exporting goods in favor of
foreign importer now it will be his turn to make payment.
TYPES OF LETTER OF CREDIT
Importer bank issues a document on request stating that it will pay the exporter when
exporter fulfill the terms of letter of credit. Letter of credit is of two types:

1. At Usance L/C
2. At Sight L/C

SIGHT L/C
Requires the importer / importing bank to pay as soon as it receives the clean documents
from exporter.

USANCE L/C
It extends time period (30days, 60days, 90days, 120days, 150days, & 180days).to
importing bank for payment. After specified time period importer have to pay.
Letter of guarantee gives in behalf of person that I will pay in case of default.

SWIFT (Standard world wide inter financial

transaction)
It is the only network. No institute involved among it.
CERTICICATE OF ORIGIN
This certificate shows that goods are from Pakistan.

COVERING SCHEDULE
If in covering schedule, it is given that “Please remit proceed to our Karachi office
account # 574348812 with (Standard Chartered Bank) USA for onward credit to National
Bank of Pakistan.

BENEFICIARY CERTIFICATE
If L/C requires some information as proof of anything from exporter then exporter has to
present beneficiary certificate for that proof.

E-FORM
E-form has four copies:

 One for custom officer

 One for exporter
 Triplicate copy for SBP
 Duplicate copy for bank

Bank reporting or duplicate and triplicate is done by bank. Custom officer should clear
product. (Date is given on the foot form).

PAYMENT FROM IMPORTER BANK

It is the choice of importer to open L/C from any bank and the bank from which L/C is
opened can also refer to some other bank for payment. So bill of exchange is sent to refer
bank and other documents are sent to L/C opening bank.

IMPORTS
L/C is opened by the importer. There are two types of L/C:

a) Revocable L/C
b) Irrevocable L/C
NECESSARY REQUIREMENTS
If place of issue and port of loading is different on bill of lading, then along with the
stamp of shipment on board, vessel name and port of shipment is written.

A. Issue date of bill of lading – shipment on board.

B. There should not be cutting on bill of lading without authentication.
C. Bill of lading should show capacity of agent. If bill of lading can be taken by the
agent of Importer Company, then his name should be mentioned on bill of lading.
D. Original GSP should be presented.
E. If TT reimbursement is not acceptable, it means bill of lading is necessary.
F. When documents are received for export, do enter into lodgment register.

DOCUMENTS FOR IMPORT

I. Performa invoice signed by importer
II. category pass book copy attested by any bank
III. L/C opening application filled in by the customer
IV. Importer registration with export promotion bureau
V. Annexure
VI. Verification of signature by S.S. Card
VII. L/C issued on basis of L/C application form
VIII. Insurance if covered by buyer
IX. Insurance cover note
X. Insurance policy
DOCUMENTARY CREDIT
TRADE SERVICE DEPARTMENT
National Bank of Pakistan has his full fledged trade service department. As a credit
instrument and as a means of making as a payment the documentary credit is an essential
instrument for conducting word trade today. A documentary credit represents a
commitment bank to pay the seller of goods or services a certain amount provided present
stipulated documents evidencing the shipment of the goods with prescribed period of
time.
For the cases of imports or exports first the parties have to do upon a sale contract
regarding the term and condition of sale. One method of payment is by L/C which is
secured and now a day mostly uses the business.
Letter of credit is under taking by opening bank that it will make payment if documents
are as per terms of LC.

Four parties are involved in Letter of Credit

1. Applicant Importer
2. Beneficiary Exporter
3. Issuing Bank Bank of importer
4. Advising bank Bank of importer
According to import policy, no import is valid without import license which is issued by
the chief controller of import and export or we can say export promotion bureau. If a
person desires to take up import trade must get his name, his firm or his limited company,
registered with EPB. On being granted registration certificate, he will be eligible to
import goods according to import policy. There is no special condition of eligibility for
registration. They only requirement is that he should be a Pakistani and must be
registered with income tax department.

L/C OPENING PROCEDURE

When the importer obtained import license, then bank will open letter of credit. “A letter
of credit is undertaking by LC opening bank to put an agreed sum of money to seller’s
bank of behalf of the buyer of the goods under clearly defined terms and conditions”.
Pakistani banks open only irrevocable LC. An essential feature of the irrevocable LC is
that it can not be modified, altered, amended, or canceled without the prior consent of all
the parties. Party comes to the bank and fills the form which is provided on the payment
of Rs.100. This form is filled by the party and is return to the bank, it includes details
like.

 Name of company  Address

 Country of origin  Insurance company
 Branch name  Shipment from
 Quantity
 Shipment to
One thing should also be submit which is INDENT. If the foreign party has any agent they
will issue the indent with following details:
o To Messer
o Importers, etc

DOCUMENTS REQUIRED FOR L/C OPENING

When the bank opens L/C, it requires following documents:

a) Valid import license

b) Performa invoice
c) Importer should be Pakistani
d) Letter of undertaking from importer
e) Insurance cover.
An important point which the bank will consider before opening of LC is that sufficient funds
be available in the LC opener’s accounts. At the time of establishment the LC the opening
bank generally retains a maximum margin to safe guard its own commitment.
The margin may vary from nil to 100% according to the nature of commodities and it also
depends upon the party. At the item of establishing the LC opening bank charges bank
commission, postage and other charges from the LC opener account. Another main important
point is that value of LC should not increase the value of import license.
After all the documents are being checked and signs are verified by the bank. A sanction slip
is attached with each form so that the approval can be gained from the manager of the bank.
After the approval is made four copies are prepared and the entries are made on the computer
and the printout is taken the margin amount is checked from the importer account and if the
amount is not found then L/C is not opened and the party is informed about the situation. On
the deposit of the margin then L/C is opened LC limit if set by the bank are also checked.
After the LC is opened following entries are made:
A. LC opening register
B. Margin / Liability Account Register.

PAYMENT TO SELLER
The negotiating bank upon receiving the documents from the seller checks the documents
according to terms and conditions of credit upon satisfying it self of this the negotiating bank
makes payment to the seller if sight credit. It then forwards the documents to the opening
bank and reimburses it self through the opening banks account with itself.
DOCUMENTS RECEIVED BY THE OPENING BANK
Importer bank or opening bank receives the following documents from the exporter’s bank or
negotiating bank.
I. Bill of exchange
II. Invoices
III. Bill of lading
IV. Certificate of origin
V. Packing list
VI. Insurance
OTHER RETAIL FUNCTIONS OF National Bank of Pakistan

• National Bank offering Advance salary benefits

We all are aware that NBP advance salary is the market leader in Personal Loan category and
is considered the largest Personal Loan Product of the country with loan disbursement of over
Rs.80 Billion. One of the foremost reasons for this astonishing success is the fact that NBP
kept on modifying the product parameters as and when required by keeping an eye on the
changing market conditions and varying competition. The Bank has decided to make
following changes in the product parameters to further improve the operational efficiency and
Turn around Time (TAT) and to increase the disbursement pace.

DOCUMENTS REQUIRED
1. Borrower must be employee of the Federal /Provincial Government / Semi
Government / Autonomous body / NBP.
2. CNIC copies of the borrower
3. Salary Slip indicating detail of salary of the borrower
4. Attested copies of CNIC by gazetted officer
5. Branch has obtained CIB Report of the borrower
6. Branch has obtained duly signed and stamped BBFS.
7. Customer written declaration giving details of all financial institutions.
8. DDO is signature has been verified
9. Loan will be approved after receipt of at least one salary in account.
10. The sanctioned amount of Advance Salary Finance doesn’t exceed 20 times.
11. The expiry of the NBP Advance salary is at least 6-months before retirement.
12. The repayment period does not exceed 60 months.
13. Three undated cross cheques in favor of NBP covering full amount of Finance have
been obtained as security.
14. All documents have been obtained as per the requirement of NBP Advance salary
scheme including undertaking as per scheme.
15. Documents have been recorded in Document Execution Register/ MISC security
Register.
16. NBP offers mark-up 15% on principal amount at fixed rate.
17. There are bi variable rates offered by NBP for this service.