Thu. Dec 5th, 2024
Good News: PM Youth Loan Scheme New Registration Start 2024

PM Youth Loan Scheme

PM Youth Loan Scheme: On the Behalf of the Prime Minister Mian Muhammad Shahbaz Sharif the registration for the Prime Minister Youth Loan scheme has been started again. The people who wants to get loan they can get loan after completing their registration. And the loan they get by low mark up is about to 5 lakh to 75 lakh. The people whom age is between 21 to 45 can apply for this scheme ang take benefit from this program. Women also apply for this PM loan scheme.
Prime Minister loan scheme has been divided in to different three tiers. The loans of 1 to 5 lakh will be given with interest free in the first tiers. In the second tiers, the loan about 5 lakh to 15 lakh will be given on the interest of 5%.With the interest of 7% in the third tiers the loan will be given from 15 lakh to 75 lakh.

PM Youth Loan Amount And Interest Rate

Tiers No. Loan Amount Interest Rate
1   1-5 lakh    0%
2 5 to 15 lakh    5%
3  15 to 75 lakh    7%

How To Apply Online For Loan?

If you want to register in the Pm youth loan scheme then you have read the article completely because the registration process is explained in this article. But you have to meet on the eligibility before registration. The eligibility criteria that set by the Govt is given below:

  • A age limit of 21 years and an education minimum of Matric need for IT and e-commerce sector candidates.
  • In the case of agricultural loans, the State Bank of Pakistan established terms and conditions for farmers will be applicable.
  • Applicant must have the national CNIC that issued by the NADRA.

If we discuss about the registration procedure, when you visit the official website then you show a registration button. By clicking on it you can get a registration form.

Also Read:How to Apply for the Khidmat Card Program Latest Updates 2024

Required Document

If you want to get loan from the PM youth scheme, then you have to need the following documents.

  • CNIC card
  • Bank Account Details
  •  Matriculation certificate

Who are the people who cannot get a loan?

  • The pakistanies who are live abroad they are ineligible for this scheme.
  • If you have Govt Job,then you can not be able to get this loan.
  • If the applicant does not have the identity card will be ineligible for this scheme.
  • Those people who go to physically bank and complete the registration process can get this loan.

List of MFIs/MFBs For providing Tier 1

S.No Bank MFIs/MFBs
1 National Bank of Pakistan  NRSP Microfinance Bank
Rural Community Development Program (RCDP)
2 Bank of Punjab Akhuwat Islamic Microfinance
3 Habib Bank Limited Akhuwat Islamic Microfinance
National Rural Support Program (NRSP)
4 Askari Bank SAFCO Microfinance Company

FAQ

Who is eligible for PMYB&als?
All Pakistani folk, whose aged between 21 and 45 years are eligible to apply for the loan
What is the time period for a PM youth loan?
The loanreturning period is about to
How can I check my eligibility for the PM loan scheme?
Eligibility Criteria
  • Age: Between 21 Years  45 Years.
  • Business type: Small and Medium Enterprises  owned by youth as per above mentioned age brackets.
How do I check if I qualify for a loan?
Checking loan qualification
  • Be prepared to provide proof of income. To qualify for most loans, you’ll need a stable job and regular income.
  • Check your credit score.
  • Assess your debt-to-income ratio (DTI).

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