The Prime Minister of Pakistan, Mian Muhammad Shahbaz Sharif, has told us to start the PM Youth Loan Scheme registration again. If you want a loan, you can get between 500,000 to 7,500,000 rupees with a low-interest rate after you register. Any Pakistani citizen aged between 21 and 45 with a Computerized National Identity Card can apply for this loan. Women can get 25 percent of the loans in this scheme.
The Prime Minister's Youth Loan Scheme offers loans on three different levels. In the first level, you can get a loan of Rs 1 lakh to Rs 5 lakh without paying any interest. In the second level, you can borrow between Rs 5 lakh to Rs 15 lakh, but you'll need to pay a 5% interest rate. In the third level, the loan amount ranges from Rs 15 lakh to Rs 75 lakh, and the interest rate is 7%.
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PM Youth Loan Amount And Interest Rate
| Tiers | Amount Of Loan | Interest Rate Of Loan |
| 1 | 500,000 | 0% |
| 2 | 500,001-1,500,000 | 5% |
| 3 | 1,500,000-7,500,000 | 7% |
How To Apply Online For Loan?
If you want to sign up for the Prime Minister Youth Loan Scheme, here's how you can do it. It's easy to register. Before you sign up, make sure you know if you're eligible. Here are the criteria you need to meet:
To apply for the Prime Minister’s Youth Business and Agriculture Loan Scheme, here are the important things you need to know:
Who can apply: If you're a citizen of Pakistan, including Azad Jammu and Kashmir and Gilgit-Baltistan, and you have a national identity card, are aged between 18 and 45, and have a mindset for starting your own business, you can apply for this loan.
Age and education requirements: If you're interested in the IT and e-commerce sector, you need to be at least 18 years old and have at least completed Matric level education.
For agricultural loans: If you're applying for a loan for agricultural purposes, the terms and conditions set by the State Bank of Pakistan for farmers will apply to you.
Special allocation for women: 25% of the loans are set aside specifically for women who want to start their own businesses.
Documentation: You'll need to have an ID card to complete your registration for this scheme.
Now, let's discuss registration. There's a button below for you to register. Just click the button to easily get the registration form. After filling it out, you can submit your application to get a loan.
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Document Required For PM Youth Loan
To get a loan from the Prime Minister Youth Loan Scheme, you need these important papers:
- National ID card
- Bank account information
- For an IT business loan, you must have a certificate showing you finished high school.
People who can't get a loan?
Pakistanis living abroad cannot get these loans.
Even if someone works for the government, they can't get this loan.
If you don't have a Pakistani ID card, you can't get a loan either.
Only those who go to the bank in person and apply will get this loan.
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List of MFIs/MFBs For providing Tier 1 loans of PMYB & ALS
| S.No | Bank | MFIs/MFBs |
|---|---|---|
| 1 | Bank of Punjab | Akhuwat Islamic Microfinance National Rural Support Program (NRSP) |
| 2 | National Bank of Pakistan | NRSP Microfinance Bank Rural Community Development Program (RCDP) |
| 3 | Askari Bank | Akhuwat Islamic Microfinance |
| 4 | Habib Bank Limited | SAFCO Microfinance Company |
| 5 | Bank of Khyber | National Rural Support Program (NRSP) |
FAQ
Who can get the PM youth loan?
People who live in Pakistan, including Azad Jammu and Kashmir and Gilgit-Baltistan, and who are between 18 and 45 years old, and want to start their own business can get this loan.
What's the interest rate for the prime minister's loan scheme?
For tier I, there's no extra charge. For tier II, there's a 5% extra charge. And for tier III, there's a 7% extra charge.
How much money can someone borrow from the PM Youth Loan Scheme?
The scheme offers loans in three different amounts. In the first tier, you can borrow from 1 lakh to 5 lakh rupees. In the second tier, the loan ranges from 5 lakh to 15 lakh rupees. In the third tier, you can borrow from 15 lakh to 75 lakh rupees.
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