Prime Minister (PM) Shehbaz Sharif relaunched the PM Kamyab Jawan Entrepreneur Loan Scheme as the PM Youth Business and Agriculture Loan Scheme (PMYBS&ALS) on Tuesday.
Addressing the occasion, the premier specifically encouraged women, transgenders, and differently-abled citizens to apply for loans under the initiative.
State Bank of Pakistan (SBP) Governor, Jameel Ahmad, added that banks have been issued special instructions to process the loan applications on a priority basis.
Here is all you need to about the PM Youth Business and Agriculture Loan Scheme.
Eligibility Criteria
All Pakistanis including citizens of Azad Jammu and Kashmir (AJK) and Gilgit Baltistan (GB) having a valid CNIC or a Form-B can apply for loans.
Age Limit
The lower age limit is 18 years while the upper age limit is 45 years.
Documents Required
- Pictures
- CNIC
- Latest academic degree
- Experience certificates (if applicable)
- License/registration with chamber or trade body/union (if applicable)
- Recommendation letter from respective chamber/trade body/union (mandatory in case of existing business)
Other Important Details
- National Tax Number (NTN)
- Consumer ID of electricity bill of current address (if applicable)
- Registration number of any vehicles registered in the applicant’s name (if applicable)
- Name, CNICs, and mobile numbers of two references other than blood relatives
- An estimate of monthly business income, business expenses, household expenses, and other income in case of new business and actual monthly business income, business expenses, household expenses, and other income in case of existing business
How to Apply?
Eligible candidates are required to apply online at the PM Youth Business and Agriculture Loan Scheme portal. Here is a step-by-step guide to explain the application process.
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Open in new tab Loan Amount and Interest Rate
The loans are divided into three tiers which are mentioned below:
| Tier | Loan Amount (Rs.) | Interest Rate |
| 1 | 500,000 | 0% |
| 2 | 500,001 – 1,500,000 | 5% |
| 3 | 1,500,001 – 7,500,000 | 7% |
Important Note
No corrections can be made after an application is submitted. Therefore, all applicants are advised to fill out the form correctly and with utmost care. Save the filled-out form before submission, proofread all the fields for accuracy, and then submit it.
5 lakh are without interest rate? Explain
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