Complete details about Prime Minister Business Loan Scheme for Youth, eligibility criteria, and how to apply.
Prime Minister Shehbaz Sharif has reintroduced the business Loan Scheme For Youth, PM Kamyab Jawan Entrepreneur Loan Scheme. The government has reintroduced the “PM Youth Business and Agriculture Loan Scheme (PMYBS&ALS)” in order to provide business loans to the youth so that they can start their career by establishing their own businesses. The Kamyab Jawan Entrepreneur Loan Scheme for Youth by Prime Minister Shehbaz Sharif as the PM Youth Business and Agriculture Loan Scheme. State Bank of Pakistan (SBP) Governor, Jameel Ahmad, stated that the initial paperwork had been completed and added that banks have been issued special instructions to process the loan applications on a priority basis. He said that the youth will be given loans up to Rs 75 Lac in order to establish their businesses.
How to get a PM Youth Business and Agriculture Loan?
Under the Youth Business and Agriculture Loan Scheme interested youth need to submit their applications to the department through online application. I
Who is Eligible For the PM Loan Scheme?
This Youth Business and Agriculture Loan Scheme is for both men and women and they can avail of it on easier terms and conditions. The business and entrepreneur can also apply for this loan. Furthermore, persons who are already engaged in doing some kind of trade would be suitable to apply for this loan in order to expand their businesses.
All Pakistanis from Punjab, Sindh, Balochistan, KPK, and also the citizens of Azad Jammu and Kashmir (AJK) and Gilgit Baltistan (GB) having a valid CNIC or a Form-B can apply for loans.
Age Limit:
Age limit 18-45.
Required Documents:
A candidate must be a valid CNIC holder
Must have recent pictures
Academic certificates
Experience certificates
Registration/License with chamber or trade body/union
Recommendation letter from respective chamber/trade body/union (Required/License with chamber or trade body/union in case of existing business)
Business potential;
Candidate may apply for loans under this scheme only from the elected branch planned with his/her area of residence/business.
Loan Amount:
Upto 75 Lac
How are loans paid back?
Loans provided under Prime Minister’s Youth Programme are now divided into 3 levels:
Level 1: The range is 0.5 million PKR with 0% markup
Level 2: The range is above 0.5 Million upto 1.5 Million PKR with a 5% markup
Level 3: The range is above 1.5 Million upto 7.5 Million PKR with a 7% markup
Where to Submit an application for a business loan?
Interested candidates can submit their Level 1 Loan under PM Youth Business and Agriculture Loan Scheme by visiting the branches of the below-mentioned banks:
National Bank of Pakistan,
Bank of Punjab,
Askari Bank,
Habib Bank Limited,
Meezan Bank,
Eligible candidates can apply online for the PM Youth Business and Agriculture Loan Scheme portal.
For more details about the PM Youth Loan Scheme and step-by-step instructions click here and stay in touch with daytimes.pk for more details.
