Prime Minister Youth Loan Scheme

Prime Minister Youth Loan Scheme – Prime Minister Youth Program Loan Scheme

Prime Minister’s Youth Business & Agriculture Loan Scheme (PMYB&ALS)

Prime Minister’s Kamyab Jawan Youth Entrpreneur Scheme (PMKJ-YES).

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.

PMYB&ALS (Prime Minister’s Youth Business and Agriculture Loan Scheme) promotes entrepreneurship among youth by providing business loans on simple terms and with less markup through 15 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 PMYB&ALS are segregated into 3 tiers.

The Prime Minister’s Youth Programme (PMYP) app brings all PMYP initiatives to your fingertips. This comprehensive dashboard lets any young Pakistani apply to our programmes explore opportunities, and broaden their horizons. Young people can apply to various programmes including PM’s Youth Business & Agricultural Loan Scheme, PM’s National Innovation Award, PM’s Talent Hunt Youth Sports, and several others.

Join us today and embark on a transformative journey towards personal and professional growth!

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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

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. 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, 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.

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 Allied 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.

Click Here

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!

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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For More Govt Scheme Information

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1. Telenor Microfinance Bank (All Branches List)

2. U Bank Microfinance Bank (All Branches List)

3. Sindh Microfinance Bank Limited (All Branches List)

4. Finca Microfinance Bank (All Branches List)

5. Khushhali Microfinance Bank (All Branches List)

6. Apna Microfinance Bank (All Branches List)

7. The First Microfinance Bank Limited(All Branches List)

8. Pak Oman Microfinance Bank (All Branches List)

9. Advans Pakistan Microfinance Bank (All Branches List)

10. NRSP Microfinance Bank (All Branches List)

11. Mobilink Microfinance bank (All Branches List)

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.

Loans provided under PMYBL are segregated into 3 tiers.

Tier 1
The range is 100,000 up to 1 million PKR with 3% markup. No Security required for loan in this tier.

Tier 2
The range is above 1 Million up to 10 Million PKR with 4% 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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