Youth Loan Scheme helps Pakistani business owners by giving them low-cost loans. It supports women and needy groups to grow their businesses.

Loan Program in Pakistan 2024:

All Pakistanis aged between 21 and 45 years who have a computerized National Identity Card apply for this loan Program. In this program,25 %of loans are reversed for women. The Prime Minister Youth  Loan Scheme has been divided into three levels.

•  first level, a loan of Rs 5 lakh, interest-free.
•  second level, a loan of Rs 1  lakh to Rs 15 lakh, the interest rate is 5%.
•  third level, a loan of  Rs 15 lakh to Rs 75 lakh, the interest rate is  7%.

PM Youth Loan Amount And Interest Rate:

Prime Minister Youth Business Loan:

Prime Minister’s Youth Bussiness Loan, for young entrepreneurs between the age group of 21-45 years, is designed to provide subsidized financial at an 8.0% mark-up per annum for one hundred thousand (100,000) beneficiaries, through designated financial institutions initially through National Bank of Pakistan and first women Bank Ltd. Small business loans with tenure of up to 8 years, with a year grace period and a debt: 

90% of the money will be given to small and medium businesses across Pakistan. The Prime Minister’s Youth Programme is working to uplift the nation by assisting the youth It is creating opportunities for a successful and innovative Pakistan.

Apply For a Loan Online?

If you wish to apply for the Prime Minister Youth Loan Scheme here is an easy guide for you. You can register easily by following these Steps. But before you register, you should know if you are eligible. Here is what  you need to know things you need to know:

Eligibility for the Prime Minister’s Youth Bussiness and Agriculture Loan Scheme:

• Who can apply? All people of Pakistan, have a national identity card.
• Age requirement: You need to be between 18 and 45 years old.
• Education requirements: If you are applying for IT or e-commerce sector you must be at least 18 years old and complete matric.

Documents for Loan:

To get a loan from the Prime Minister Youth Loan Scheme, you will need these important documents:

• National identification card
• Bank Account Details
• You must have a matriculation certificate to avail of an IT business loan.
• Who are the people who cannot get loans?
• Overseas Pakistan cannot avail of these loans.
• Among such persons who are employed in any government sector, they also cannot avail of this loan.
• People who do not have a Pakistani identity card cannot also get a loan.
• Such persons who will physically visit the bank and use the application will be provided with this loan.

Conclusion:

The Prime Minister Youth Loan Scheme is an important program to help young business owners in Pakistan. I offer loans is three levels with a special focus on women and people from disadvantaged groups. The loan has lower interest rates to make it easier for people to start or grow their businesses. This program helps create new business opportunities and support small and medium companies. By making it easier for young people to get loans, the scheme helps bring new ideas and grow the economy in the country. 

FAQS:

What is the time for a PM youth loan?

Maximum tenure of up to 8 years for a PM youth loan.

How can I find out if I qualify for the PM loan scheme?

All people of Pakistan who own a CNIC, are age between 21 and 45 years old, and have a strong business plan can apply.

Which bank in Pakistan gives loans without interest?

Meezan Bank in Pakistan gives loans without interest.

How many loans can I take in a year?

I take many loans as the bank approves but it might be difficult to receive more loans if you already have several. Each loan you take makes it harder to get another one because you are debit increase.

How can I get more information about this scheme?

All the information regarding the loan scheme is available at https://kamyabjawan.gov.pk/home/yesprogram.