Prime Minister’s Youth Business & Agriculture Loan Scheme has been launched by State Bank of Pakistan. All Pakistani men and women can take loans for business purposes
A man can take maximum two loans, 25% of loans will be reserved for women. Loans can be taken for starting a new business or for an existing business
Eligibility Criteria For Prime Minister Youth Business Loan
A- All Male And Female Pakistani holding National Identity Card (CNIC) aged between 21 and 45 years with entrepreneurial potential are eligible.
B- For IT/E-Commerce related businesses, the lower age limit will be 18 years and at least matric education or equivalent education will be required.
Loan Limit:
Three categories have been introduced by State Bank Of Pakistan.
Tier 1 (T1): Up to PKR 0.5 million ( 5 Lack )
Tier 2 (T2): Above PKR 0.5 million and up to Rs 1.5 million ( 15 Lac )
Tier 3 (T3): Above PKR 1.5 million and up to Rs 7.5 million ( 75 Lac )
Loan Tenor :
T1: Up to 3 years and repayment will be in equal monthly installments.
T2 & T3: Up to 8 years for long term/development loans with maximum grace period of up to one year.
Markup:
T1: 0%
T2: 5%
T3: 7%
Minimum Equity :
For New Businesses:
T1: 10%
T2: – 10%
T3 : 20%
Security Requirements:
T1: only by personal guarantee required of the borrower
T2- personal guarantee
T3- banks policy.
Prime Minister Youth Business Loan Scheme Online Registration
All Pakistani male and female who want to take a loan for business purposes should submit an online application along with all the necessary documents.
