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.
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.
Minimum Equity :
For New Businesses:
T2: – 10%
T3 : 20%
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.