Prime Minister Youth Loan Scheme 2024 – Prime Minister Youth Program Loan Scheme
Prime Minister’s Youth Business & Agriculture Loan Scheme (PMYB&ALS)
1. Please refer to IH&SMEFD Circular No. 08 of 2019 dated July 11, 2019 and subsequent instructions issued from time to time regarding Prime Minister’s Kamyab Jawan Youth Entrpreneur Scheme (PMKJ-YES).
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2. Government of Pakistan has approved revisions in the key features of PMKJ-YES with a view to make it more purposeful and beneficial for small businesses and agriculture. The new components of interest free microloans and agriculture loans have been added in the scheme. Moreover, the scheme has been renamed as Prime Minister’s Youth Business & Agriculture Loan Scheme (PMYB&ALS). The key features of PMYB&ALS approved by the Government of Pakistan are reproduced below:
INSTRUCTIONS
Dear Applicant
You must have scanned copies / clear visible pictures of following documents ready before you start your application:
1. Passport Size Picture
2. CNIC – Front Side
3. CNIC – Back Side
4. Latest Educational degree / certificate, if and whichever applicable: Matric, Intermediate, Bachelors, Masters, PHD etc.
5. Experience certificate(s), if applicable
6. License / Registration with Chamber or Trade Body, if applicable
7. Recommendation Letter from respective chamber / trade body or Union, this is mandatory in case of existing business.
You must have the following information handy before you start your application:
8. National Tax Number, in case you do not have one please register at https://fbr.gov.pk/categ/register-income-tax/51147/30846/71148
9. Consumer ID of Electricity bill of your current address. (NITB to link image of where consumer ID is written on electricity bill)
10. Consumer ID of Electricity bill of your current office address, if applicable.
11. Complete Registration number of any vehicle registered in your name, if applicable.
12. Name, CNIC and Mobile numbers of Two References other than Blood relatives.
13. An estimate of Monthly business income, business expenses, household expenses and other income should be available with you in case of new business while in case of existing business please provide actual Monthly business income, business expenses, household expenses and other income, if any details.
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- State Bank Prime Minister Youth Loan Program
- Bank Alfalah Prime Minister Youth Loan Program
- HBL Prime Minister Youth Loan Program
- UBL Prime Minister Youth Loan Program
- Bank Al Habib Prime Minister Youth Loan Program
- Allied Bank Prime Minister Youth Loan Program
State Bank Prime Minister Youth Loan Program
1. PM Loan: An Overview
The State Bank of Pakistan offers a Prime Minister Youth Loan program for young people between the ages of 21 and 45. The program offers loans of up to Rs. 1 million for business and education purposes. The program is designed to help young people start their own businesses or pursue higher education. The loan program is offered at a subsidized interest rate of 5% per annum. The loan program is open to all Pakistani citizens who are 21 years of age or older.
2. Eligibility Criteria for PM Loan
1. Age Criteria
You must be between the ages of 21 and 45 years to be eligible for the PM loan.
2. Employment Criteria
You must be employed in order to be eligible for the PM loan. This can be in the public or private sector, and includes self-employment. You must have a steady income in order to repay the loan.
3. Citizenship Criteria
You must be a Pakistani citizen to be eligible for the PM loan.
4. Asset Criteria
You must have assets in Pakistan in order to be eligible for the PM loan. These assets can be in the form of property, land, or a business.
5. Income Criteria
Your household income must be below the poverty line to be eligible for the PM loan.
3. Types of PM Loan
The State Bank of Pakistan offers a Youth Loan program for young entrepreneurs between the ages of 21 and 45. The program offers three different types of loans, each with its own requirements and benefits.
Type 1: Business Loan
The first type of loan is a business loan. This loan is for young entrepreneurs who want to start or expand their businesses. The loan amount can be up to Rs. 5 million and the repayment period is up to 4 years.
Type 2: Skill Development Loan
The second type of loan is a skill development loan. This loan is for young entrepreneurs who want to improve their skills by taking courses or training. The loan amount can be up to Rs. 300,000 and the repayment period is up to 2 years.
Type 3: Youth Housing Loan
The third type of loan is a youth housing loan. This loan is for young entrepreneurs who want to buy or build their own homes. The loan amount can be up to Rs. 5 million and the repayment period is up to 10 years.
4. Interest Rates on PM Loan
The State Bank of Pakistan (SBP) has announced a new interest rate structure for the Prime Minister Youth Loan Program. Under the new structure, the interest rate on PM Youth Loans will be determined in accordance with the following tiers:
Tier 1: For loan amounts up to Rs. 500,000, the interest rate will be 12.5% per annum.
Tier 2: For loan amounts between Rs. 500,001 and Rs. 1,000,000, the interest rate will be 13.5% per annum.
Tier 3: For loan amounts between Rs. 1,000,001 and Rs. 5,000,000, the interest rate will be 14.5% per annum.
The new interest rate structure will be effective from 1st July 2019 and will apply to all new and existing loan accounts.
The Prime Minister Youth Loan Program was launched in 2013 with the aim of providing financial assistance to young people in Pakistan. To date, over 2 million young people have benefited from the program.
5. Repayment Period of PM Loan
The government of Pakistan has announced a new Prime Minister Youth Loan program under which young people can apply for loans of up to Rs. 2 million. The program is designed to help young people start businesses and create jobs. One of the key features of the program is the repayment period, which is five years.
The government has said that the repayment period is flexible and can be extended if the borrower is unable to repay the loan within the five-year period. However, it is important to note that the interest rate on the loan will increase if the repayment period is extended.
The government has also said that the loans will be disbursed within two weeks of the application being approved. This is a very fast turnaround time and will help borrowers who need the money urgently.
Overall, the Prime Minister Youth Loan program is a very good initiative that will help many young people in Pakistan to start their own businesses. The repayment period is reasonable and the interest rate is relatively low. The fast turnaround time for loan disbursement is also a major plus point.
6. Tax Benefits of PM Loan
The State Bank of Pakistan’s Prime Minister Youth Loan Program offers a number of tax benefits to encourage young people to start their own businesses. Here are six of the most significant tax breaks available:
1. Income Tax Exemption:
The first two years of business income are exempt from income tax. This provides a significant boost to new businesses, which often have high start-up costs and may not be profitable in their early years.
2. Capital Gains Tax Exemption:
Profits from the sale of a business are exempt from capital gains tax. This is a valuable benefit for entrepreneurs who want to sell their businesses after a few years and reinvest the proceeds in a new venture.
3. Tax-Deductible Business Expenses:
Business expenses incurred in connection with the business are tax-deductible. This includes expenses such as office rent, supplies, and travel.
4. Tax-Free Loan Repayments:
Loan repayments made to the government under the Prime Minister Youth Loan Program are tax-free. This can save businesses a significant amount of money on their loan repayments.
5. Tax Credits for Hiring Youth:
Businesses that hire youth aged 18-35 are eligible for a tax credit of up to PKR 10,000 per month per employee. This is a valuable benefit for businesses that are looking to hire and train young people.
6. Tax Incentives for Youth Training:
Businesses that provide training to youth aged 18-35 are eligible for a number of tax incentives, including a tax deduction of up to PKR 100,000 per year. This is a valuable benefit for businesses that are looking to invest in the training and development of young people. Click Here
Bank Alfalah Prime Minister Youth Loan Program
1. Introduction to PM Loans
Pakistan is a developing country and its economy is not as strong as that of developed countries. However, the Pakistani government is taking various initiatives to improve the country’s economy. One such initiative is the Prime Minister Youth Loan Program, which was launched in 2013.
The main aim of this program is to provide financial assistance to the youth of Pakistan so that they can start their own businesses and become self-employed. Under this program, young people between the ages of 18 and 35 can apply for loans of up to Rs. 2 million. The loans are given at a subsidized interest rate of 4% per annum.
This program has been a great success so far and has helped many young people in Pakistan to start their own businesses. If you are also planning to start your own business, then you should definitely apply for a PM Youth Loan.
2. How PM Loans Can Benefit You
The Prime Minister Youth Loan Program in Pakistan offers a number of benefits for young people who are looking to start or grow their business. One of the biggest advantages of the program is the low-interest rates offered on the loans.
Another big benefit is the fact that the loan can be repaid over a period of five years, which gives the borrower plenty of time to get their business up and running and to start generating an income.
There are also no collateral requirements for the loan, which means that anyone can apply for the loan regardless of their asset base. This makes the loan accessible to a wide range of people, including those who may not have any assets to offer as collateral.
Lastly, the program offers a number of other benefits such as training and mentorship opportunities, as well as access to a dedicated support team. These additional benefits can be extremely helpful for young entrepreneurs who are just starting out.
Overall, the Prime Minister Youth Loan Program in Pakistan is a great option for young people who are looking to start or grow their business. The low-interest rates and long repayment terms make the loan very affordable, and the additional benefits can be extremely helpful for those just starting out. If you are considering starting your own business, be sure to check out the Prime Minister Youth Loan Program in Pakistan.
3. Types of PM Loans
The Prime Minister Youth Loan Program in Pakistan offers three types of loans to eligible youth:
1. Business Loan
2. Agriculture Loan
3. IT & Technical Training Loan
1. Business Loan
The Business Loan is for youth who want to start or expand their business. The loan amount is up to Rs. 2 million and the interest rate is 9% per annum. The loan tenure is up to 5 years.
2. Agriculture Loan
The Agriculture Loan is for youth who want to start or expand their agriculture business. The loan amount is up to Rs. 2 million and the interest rate is 9% per annum. The loan tenure is up to 5 years.
3. IT & Technical Training Loan
The IT & Technical Training Loan is for youth who want to undergo IT or technical training. The loan amount is up to Rs. 300,000 and the interest rate is 9% per annum. The loan tenure is up to 3 years.
4. How to Apply for a PM Loan
The Prime Minister Youth Loan Program is a scheme introduced by the government of Pakistan in 2013. The program is designed to provide financial assistance to young Pakistanis between the ages of 18 and 35 years. The loan amount under this program is up to PKR 2 million and the repayment period is up to eight years.
The main objective of this program is to provide employment opportunities to the youth of Pakistan and to help them start their own businesses. The program is also aimed at reducing the dependence of the youth on government jobs.
To apply for a PM Youth Loan, the applicant must first fulfill the eligibility criteria. The applicant must be a Pakistani citizen and must be between the ages of 18 and 35 years. The applicant must also have a valid CNIC and must be a resident of Pakistan.
The applicant must also have a minimum monthly income of PKR 10,000. The applicant must also have a bank account in any bank operating in Pakistan. The applicant must also have a guarantor who meets the eligibility criteria set by the government.
Once the eligibility criteria are met, the applicant can apply for the loan by filling out an application form. The form can be obtained from any branch of the State Bank of Pakistan or any commercial bank operating in Pakistan. The form can also be downloaded from the official website of the State Bank of Pakistan.
The completed form must be submitted to the nearest branch of the State Bank of Pakistan along with the required documents. The required documents include the applicant’s CNIC, bank account statements for the last six months, guarantor’s CNIC, and income documents.
The loan application will be processed within 15 days and the loan amount will be disbursed within 30 days.
5. Tips for Successfully Applying for a PM Loan
The Prime Minister Youth Loan Program was established in 2013 by the government of Pakistan to provide financial assistance to young people between the ages of 21 and 45. The program offers loans of up to Rs. 5 million (approximately $50,000) at subsidized interest rates to help young people start or expand their businesses.
Since its inception, the program has helped over 100,000 young entrepreneurs access the financing they need to grow their businesses. If you are thinking of applying for a PM Loan, here are 5 tips to help you increase your chances of success:
1. Know the eligibility criteria
To be eligible for a PM Loan, you must be between the ages of 21 and 45, and you must be a Pakistani citizen. In addition, you must be employed or self-employed with a regular income, and you must have a business plan.
2. Understand the loan process
The loan application process is divided into two phases: the pre-screening phase and the post-screening phase. In the pre-screening phase, you will be required to submit your personal information, business information, and financial information.
After your application has been reviewed, you will be invited to participate in the post-screening phase, which includes an interview and a business plan presentation.
3. Prepare your documents
To increase your chances of success, it is important to have all of your documents in order before you begin the loan application process. In addition to your personal information, you will need to provide your business information, financial information, and a business plan.
4. Have a strong business plan
Your business plan is one of the most important elements of your loan application. It should be well-researched and well-written, and it should include information on your business idea, your target market, your financial projections, and your marketing strategy.
5. Stay in touch with your loan officer
Once you have submitted your loan application, it is important to stay in touch with your loan officer. They will be able to provide you with updates on the status of your application, and they may have additional questions for you. Click Here
HBL Prime Minister Youth Loan Program
Are you a young entrepreneur struggling to finance your dream project? Look no further than the HBL Prime Minister Youth Loan Program! This innovative initiative is designed to empower the youth of Pakistan by providing them with access to low-interest loans and financial guidance. With this program, you can turn your business ideas into reality and pave your way towards success. Let’s dive deeper into what this loan scheme has to offer and how it can benefit aspiring entrepreneurs like yourself.
What is the HBL Prime Minister Youth Loan Program?
The HBL Prime Minister Youth Loan Program is a Pakistani government initiative that provides financial assistance to young entrepreneurs. The program was launched in 2013 by then-Prime Minister Nawaz Sharif, and provides loans of up to Rs. 10 million (US$100,000) at subsidized interest rates. The loans are available for a period of up to eight years, and can be used for a variety of purposes including business start-up costs, working capital, and equipment purchases.
Since its launch, the program has provided over Rs. 60 billion (US$600 million) in financing to over 200,000 young entrepreneurs across Pakistan. The program has been widely praised for its role in promoting entrepreneurship and generating employment, with many beneficiaries reporting increased sales and profitability after taking out a loan. Click Here
Bank Al Habib Prime Minister Youth Loan Program
1. What is a PM Loan?
The Prime Minister Youth Loan Program is a initiative by the Government of Pakistan to provide financial assistance to young entrepreneurs in the form of loans. The program was launched in 2013 and is currently ongoing. The program is open to Pakistani citizens between the ages of 18 and 45 years who are looking to start or expand their business. The loan amount ranges from Rs. 100,000 to Rs. 5 million and the repayment period is between 1 to 5 years. The interest rate on the loan is 4% per annum.
The main objective of the program is to encourage entrepreneurship among the youth of Pakistan and to create employment opportunities. The program has so far assisted over 50,000 young entrepreneurs in starting or expanding their businesses. The program has also created over 200,000 jobs.
2. Who is Eligible for a PM Loan?
The Prime Minister’s Youth Loan Scheme is a initiative of the Pakistani government to provide financial assistance to unemployed youth in the country. The scheme offers loans of up to Rs. 2 million to young people between the ages of 21 and 45 years, who are seeking to start their own business. The loans are provided at a subsidized interest rate of 4% per annum, and are to be repaid over a period of five years.
To be eligible for a loan under the scheme, applicants must be Pakistani citizens and must not be availing any other form of government financial assistance. They must also have a minimum monthly income of Rs. 15,000, and must not have any outstanding loans from other financial institutions.
The scheme is open to all Pakistani youth, regardless of their educational qualifications or work experience. However, preference will be given to those with a college or university degree, and those who have experience in running a business.
Applications for the loans can be made online, and must be accompanied by a business plan and supporting documents. The loan amount will be disbursed directly into the applicant’s bank account, and can be used for any business-related purpose.
The Prime Minister’s Youth Loan Scheme is a great opportunity for Pakistani youth to start their own businesses and become self-employed. If you are thinking of starting your own business, make sure you meet the eligibility criteria and submit a strong business plan to improve your chances of getting a loan.
3. How to Apply for a PM Loan
The first step in applying for a PM Loan is to fill out an application form. This form is available online or at any Bank Al Habib branch. The form must be completed in full and signed by the applicant.
The second step is to submit the completed form, along with the required supporting documentation, to the nearest Bank Al Habib branch. The documentation required includes:
A copy of the applicant’s CNIC
A copy of the applicant’s latest utility bill
A copy of the applicant’s bank statement for the past 6 months
A copy of the applicant’s latest salary slip
The third step is to wait for the bank to process the application. Once the application has been approved, the fourth and final step is to sign the loan agreement and start making monthly loan repayments.
4. What are the Benefits of a PM Loan?
The Prime Minister’s Youth Loan Program is a Pakistani government initiative that provides financial assistance to young people in the form of loans. The program was launched in 2013 and is open to Pakistani citizens between the ages of 18 and 35. The objective of the program is to reduce unemployment and poverty in Pakistan by providing young people with access to capital so that they can start their own businesses.
The program offers loans of up to PKR 500,000 (approximately USD 5,000) with an interest rate of 4%. Loan repayment terms are flexible, and borrowers can repay their loans over a period of up to 5 years. There is no collateral required for the loan, and the application process is simple and straightforward.
So far, the program has been a success, with over 1 million young people benefiting from the loan scheme. The program has helped reduce unemployment and poverty in Pakistan, and has also contributed to the country’s economic growth. The Prime Minister’s Youth Loan Program is a great example of how the Pakistani government is working to improve the lives of its citizens.
5. What are the Interest Rates for a PM Loan?
The Pakistan Prime Minister’s Youth Loan Program offers interest-free loans to eligible young people between the ages of 21 and 45. The program was established in 2013 in an effort to address youth unemployment in Pakistan. As of June 2017, the program had disbursed over Rs 34 billion (US$330 million) in loans.
1. General Loan: This loan is available for any purpose and has a maximum loan amount of Rs 2 million (US$19,500).
2. Business Loan: This loan is specifically for starting or expanding a business and has a maximum loan amount of Rs 5 million (US$49,000).
3. Agri Loan: This loan is specifically for agricultural purposes and has a maximum loan amount of Rs 1 million (US$9,700).
All loans are interest-free and have a repayment period of five years. There is no grace period for repayment; borrowers are required to start making monthly payments immediately after receiving the loan.
The program has a number of eligibility requirements, including:
– Pakistani citizenship
– Age of 21-45 years
– Annual income of less than Rs 4.5 million (US$44,000)
– Good credit history
– No outstanding loans from any other source
In addition, applicants must provide collateral for the loan in the form of a property or land title.
The program has been criticized for its high interest rates, which can reach up to 20%. However, the program has also been praised for its quick disbursement of loans and its simple application process.
6. Repayment Terms for a PM Loan?
The Prime Minister Youth Loan Program in Pakistan offers a variety of repayment terms for its loans. Depending on the borrower’s needs and financial situation, there are six different repayment terms available:
1. Standard Repayment Plan: This is the default repayment plan for most loans. Under this plan, borrowers have up to 10 years to repay their loans in full.
2. Extended Repayment Plan: This repayment plan is available for borrowers who need more time to repay their loans. Under this plan, borrowers have up to 20 years to repay their loans in full.
3. Graduated Repayment Plan: This repayment plan is available for borrowers who anticipate their income will increase over time. Under this plan, borrowers make lower payments at first, and then gradually increase their payments over time.
4. Income-Based Repayment Plan: This repayment plan is available for borrowers who have a low or variable income. Under this plan, borrowers’ monthly payments are capped at a percentage of their income.
5. Pay As You Earn Repayment Plan: This repayment plan is available for borrowers who have a low or variable income. Under this plan, borrowers’ monthly payments are capped at a percentage of their income, and any remaining balance is forgiven after 20 or 25 years.
6. Public Service Loan Forgiveness: This repayment plan is available for borrowers who work in public service. Under this plan, borrowers’ loans are forgiven after 10 years of payments.
7. How to Default on a PM Loan?
The Pakistan Prime Minister’s Youth Loan program is a great way to get access to financing for small businesses. However, if you are not able to repay the loan, you may be forced to default on the loan. Here are seven tips to help you avoid defaulting on your loan:
1. Understand the terms of the loan. Before you take out the loan, make sure you understand the repayment terms. This includes the interest rate, the monthly payment amount, and the length of the loan.
2. Make a budget. Once you have the loan, create a budget that includes your monthly loan payment. Make sure you leave room in your budget for other expenses, such as food, clothing, and utilities.
3. Prioritize your loan payment. When you get your monthly income, make sure the loan payment is at the top of your list of bills to pay. This will help ensure you do not miss a payment.
4. Stay current on your payments. If you can, try to make your loan payments early. This will help you avoid late fees and keep your account in good standing.
5. Communicate with your lender. If you are having trouble making your payments, reach out to your lender as soon as possible. They may be able to work with you to create a new payment plan.
6. Consider consolidation. If you have multiple loans, you may be able to consolidate them into one loan. This can help simplify your finances and make it easier to make your payments on time.
7. Seek professional help. If you are struggling to make your loan payments, you may want to seek professional help. A financial advisor can help you create a budget and come up with a plan to get out of debt. Click Here
Allied Bank Prime Minister Youth Loan Program
Are you a young entrepreneur looking for financial support to kickstart your business? Look no further than the Allid Bank Prime Minister Youth Loan Program! This program provides affordable loans and training opportunities for young people interested in starting or expanding their businesses. With low-interest rates, flexible repayment options, and a streamlined application process, this program is an excellent choice for anyone seeking to turn their dreams into reality. In this blog post, we will explore the benefits of this innovative loan program and why it is worth considering if you are ready to take your entrepreneurial aspirations to the next level.
What is the Allid Bank Prime Minister Youth Loan Program?
The Allid Bank Prime Minister Youth Loan Program is a Pakistani government initiative that was launched in 2013. It provides interest-free loans to young entrepreneurs between the ages of 18 and 35. The loan can be used for business start-ups, expansions, or working capital. As of 2016, over 50,000 young Pakistanis had benefited from the program.
What are the Requirements for the Allid Bank Prime Minister Youth Loan Program?
In order to be eligible for the Allid Bank Prime Minister Youth Loan Program, applicants must:
-Be between the ages of 18 and 35
-Be a Pakistani citizen
-Have a valid CNIC
-Not be a defaulter of any bank or financial institution
-Not have availed any other youth loan scheme previously
Applicants must also submit the following documents:
-A duly filled application form
-Two recent passport size photographs
-Copy of CNIC
-Copy of latest utility bill
UBL Prime Minister Youth Loan Program
Are you a young entrepreneur looking to kick start your business, but struggling with finance? Or perhaps you are an aspiring student who wants to invest in education and build a better future for yourself? Whatever your aspirations may be, we have some exciting news that is sure to catch your attention! Introducing the UBL Prime Minister Youth Loan Program – an initiative designed specifically for budding entrepreneurs and students, offering financial support to help turn their dreams into reality. In this blog post, we will dive deeper into what this program entails and how it can benefit ambitious youths like yourself. So sit back, relax and read on to unlock the potential of this amazing opportunity!
What is the UBL Prime Minister Youth Loan Program?
The UBL Prime Minister Youth Loan Program is a government initiative that provides young people in Pakistan with access to financial assistance in order to start or expand their businesses. The program was launched in 2013 by then-Prime Minister Nawaz Sharif, and it has since helped over 2 million young Pakistanis obtain loans totaling over Rs180 billion.
The program is open to Pakistani citizens between the ages of 18 and 45 who are seeking to start or expand a business in Pakistan. There is no specific requirement for the amount of the loan, but it must be used for business purposes only. Loans are disbursed on a first-come, first-served basis, and preference is given to those from underserved areas and women entrepreneurs.
Repayment terms are flexible, with a grace period of up to two years and monthly installments ranging from Rs1,000 to Rs20,000 depending on the size of the loan. Interest rates are currently set at 6%, but this may change in the future depending on market conditions.
So far, the program has been successful in helping young people start or grow their businesses, with over 80% of loans being used for business expansion rather than new businesses. This has resulted in increased employment and economic activity across Pakistan.
Who is eligible for the loan?
The UBL Prime Minister Youth Loan Program is open to Pakistanis aged between 21 and 45 years who are employed and earn a monthly income. The program is also open to self-employed individuals who can provide proof of income.
How to apply for the loan?
In order to apply for the UBL Prime Minister Youth Loan Program, you will need to visit a branch of United Bank Limited with your CNIC, two recent passport size photographs, and your bank account number. The loan application form can be obtained from the bank branch. Once you have completed the form, you will need to submit it along with the required documents to the bank officer. The bank will then process your application and disburse the loan amount to your account within 7-10 days.
What are the terms and conditions of the loan?
The terms and conditions of the UBL Prime Minister Youth Loan Program are as follows:
1. The loan is available to Pakistani citizens between the ages of 18 and 45.
2. The loan amount is up to PKR 1 million, with a maximum tenure of 5 years.
3. The interest rate on the loan is 12% p.a., with a monthly flat rate of 0.5%.
4. There is no processing fee or upfront charges for the loan.
5. The loan can be used for a variety of purposes, including business expansion, education, medical treatment, and travel.
6. The repayment schedule will be determined by the bank at the time of disbursement, based on the borrower’s ability to repay.
Repayment Schedule
The Prime Minister Youth Loan Program offers young people between the ages of 18 and 25 up to $15,000 in financial assistance. The loan is interest-free and must be repaid within two years.
There are a few things to keep in mind when it comes to the repayment schedule for this loan. First, the loan must be repaid in full within two years. Secondly, there is no grace period for this loan, so payments are due immediately after the loan is dispersed. Finally, because this is an interest-free loan, there are no penalties for early repayment.
If you find yourself unable to repay the loan in full within the two year timeframe, you should contact the program administrator as soon as possible to discuss your options. Click Here
Please Note:
a. Please sign up to submit application.
b. You must have a mobile number registered in your name to start this application on which Bank shall communicate with you.
c. This application shall take at least 15 minutes to complete subject to availability of above listed information.
d. You may complete the form in one go or save a draft for submission later on.
e. Please upload as much information as you have e.g. Financial Statements, Business Feasibility, Last 6 months Bank statement, etc. This shall help to better evaluate your application.
f. Once the form is submitted, your application registration number shall appear on the screen and you will also receive SMS stating the same, please keep it safe.
g. You will receive SMS once your application moves to next stage of process, however you may check your submitted application status on this web site as well.
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Shehbaz Sharif
(Prime Minister, Pakistan)
Dear Youngsters! Always remember that you are the biggest asset of Pakistan. Almighty has blessed you with great potential and a lot of qualities.
Positively utilize your strengths and play role in making Pakistan a developed nation. You are the torch bearers of tomorrow. To empower our young population, we have launched several initiatives Under Prime Minister’s Youth Programme.
Be a part of these initiatives, discover your hidden potential, and a bright future is waiting for you.
Shaza Fatima Khawaja
(SAPM on Youth Programme)
Leading the office of Youth Affairs is a great honor. As it enables me to work for the betterment of more than 68 percent population.
Our foremost goal is to facilitate youth in each and every field. PM Laptop Scheme, Loan scheme, Youth Development Center, and National Youth Commission are the initiatives through which we are trying to transform your bright future.
Get involved in our initiatives and play role in making a prosperous Pakistan.
PRIME MINISTER’S YOUTH BUSINESS LOAN
PMYBL promotes entrepreneurship among youth by providing business loans on simple terms and with less markup through 21 Commercial, Islamic and SME banks.
All Pakistani residents, aged between 21 and 45 years with entrepreneurial potential are eligible to apply for the loan. For IT/ E-Commerce related businesses, the lower age limit is 18 years. Applications have to be submitted online only through our website.
Loans provided under PMYBL are segregated into 3 tiers.
Tier 1
The range is 100,000 upto 1 million PKR with 3% markup. No Security required for loan in this tier.
Tier 2
The range is above 1 Million upto 10 Million PKR with 4% markup.
Tier 3
The range is above 10 Million upto 25 Million PKR with 5% markup.
FAQs: Prime Minister Youth Loan Scheme
What is the Prime Minister Youth Loan Scheme?
The Prime Minister Youth Loan Scheme is a government initiative aimed at providing financial support and facilitating the economic empowerment of young entrepreneurs in Pakistan.
Who is eligible to apply for the Prime Minister Youth Loan Scheme?
Eligibility criteria may vary, but generally, young entrepreneurs between a certain age range with viable business proposals are eligible. Specific eligibility requirements can be obtained from the implementing agency.
What types of businesses are eligible for financing under this scheme?
The scheme typically supports a wide range of business sectors. Eligible businesses may include manufacturing, services, agriculture, and other sectors that contribute to economic development.
How can I apply for the Prime Minister Youth Loan Scheme?
The application process involves submitting a business proposal and required documents to the designated financial institution or implementing agency. Detailed information on the application process can be obtained from the relevant authorities.
What documents are required for the application?
Required documents may include a detailed business plan, proof of identity, financial statements, and other relevant documents. The exact list of documents may vary depending on the implementing agency.
Is collateral required for the loan?
Collateral requirements may vary. Some schemes may offer loans without collateral, while others may require some form of security. It is important to check with the implementing agency for specific details on collateral requirements.
What is the loan repayment period?
The loan repayment period is typically structured based on the nature of the business and the loan amount. It is important to review the terms and conditions to understand the repayment schedule.
Is there an age limit for applicants?
The scheme is usually targeted at young entrepreneurs within a specific age range. The age limit for eligibility may be defined by the government or implementing agency, and it is essential to check this criterion before applying.
What interest rates are applicable to the Prime Minister Youth Loan Scheme?
Interest rates may vary and are usually competitive. The government may provide subsidies to make the loans more accessible to young entrepreneurs. It is important to inquire about the applicable interest rates and any associated subsidies.
Can existing businesses apply for the Prime Minister Youth Loan Scheme?
The eligibility criteria may specify whether the scheme is open to startups only or includes existing businesses. It is crucial to check with the implementing agency to determine the scope of the program and whether existing businesses can apply.
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