PM Youth Business Loan Program PMYP Scheme is providing upto Rs 500,000 to Rs 7500,000 loan for Business and Agriculture in Pakistan. In this article we have describe full details about this loan program / scheme in simple words.
Current Prime Minister of Pakistan PM Shehbaz Sharif has recently introduce a new Youth Development Programme which is known as “Prime Minister’s Youth Business & Agriculture Loan Scheme” (PMYB&ALS) and it is a good source to get maximum loan at low interest rate.
Take loan for business & agriculture and become able to generate a great revenue with the help of government. You just need to apply online for this loan and get enrolled in the list of NBP for loan.
PM Youth Business Loan Program
Prime Minister’s Youth Business & Agriculture Loan Scheme is providing lowest 5 Lakh Loan without any interest. In addition, this loan scheme will provide 5 Lakh to 15 Lakh loan with 5% interest rate.
Finally, the loan applicant can also get up to 15 Lakh to 75 Lakh via PM Youth Business Loan Program. All you need to just apply and wait till the government officials approve your application.
Youth Business & Agriculture Loan Size
According to applicant age, eligibility criteria, type of business / agriculture needs the loan varies. You may get different high / low amount of loan as compared to other applicants depending on the given factors.
Here we have the size of Youth Business Loan Program:
- 5 Lakh Loan => Interest Rate 0%
- 5 Lakh to 15 Lakh => Interest Rate 5%
- 15 Lakh to 75 Lakh => Interest Rate 7%
This is the exact amount of loan that you can get from PM Youth Business Loan Program by visiting the official PMYP portal.
Eligibility Criteria For PM Loan 2023
Who is eligible to get this loan? Everyone! Yes, if you belong to Pakistan and have your CNIC / ID Card (NADRA) register card then you can apply for this loan. Men, Women and Transgender all are eligible. Let’s see the additional details:
- 21Y to 41Y (Male, Female, Disabled, T-Gender)
- 25% Percent Quota is fixed for Women Applicants
- IT business loan applicants having 18Y age are eligible
If you meet the given eligibility criteria then follow the steps given below and apply / register online to get loan today from new Prime Minister’s Youth Business & Agriculture Loan Scheme.
Required Documents To Apply Loan
You just need basic documents (belongs to you) for the registration / apply for this “loan scheme” in 2023. Here we have list of required documents:
- 1x Applicant Passport Size Picture
- 1x CNIC Copy (front & back)
- Copies of all Degrees / diploma
- Copy of Certificate of experience
- Chamber of commerce issued Registration/license
- Recommendation letter from the relevant chamber, trade association or union (for existing business)
- National Tax Number (Register & Get)
- Consumer ID of Electricity bill
- Registration number of your vehicle (car, bike, tractor or any other)
- Name, CNIC & Mobile numbers of 2 References (not your relatives)
- Your total monthly income and monthly expenses (estimated figure)
How To Apply / Register Online For Loan?
Follow these steps to register / apply online for the PM Loan in few steps. You need to have a SIM card register on your name / CNIC for loan apply:
- Click here to open official registration link
- Provide your CNIC / ID Card Number
- Provide your CNIC / ID Card issuance date
- Select loan tier (5 lakh, 15 lakh or 75 lakh)
- Click on enter button to proceed toward 3 application forms
- Here the 1st form is “Personal Information” section – fill it
- Next, the 2nd form is “Business Information” section – fill it
- 3rd form blong to “Loan Details” hence select your desired loan
- 4th section is “Financing Dteails” – fill this area according to your status
- At the end, tick & agree the terms and conditions and subit the form to register / apply online
Done! By following the given instructions you will successfully apply for the loan at the PM Loan Scheme. For more information visit official PMYP portal.