PM Youth Loan Scheme 2024 The Prime Minister of Pakistan has announced a loan scheme for unemployed men and women.Under this Prime Minister’s Scheme, boys and girls between the ages of 18 and 45 can take a loan from the Prime Minister for the development of their new business or existing business, which will be approved by the Government of Pakistan and you will have to repay it in installments.This facility will be for a period of five years, meaning you can repay your money within five years.The opportunity for the youth is that you do not have to pay any installments for the first six months. You only have to do business and after six months, your installment page will start.
PM Youth Loan Scheme 2024
Objective of Loan Scheme
The purpose of starting this scheme by the Prime Minister of Pakistan is to provide employment opportunities to all the unemployed youth in Pakistan so that they can start a better job and provide them with financial assistance through loans so that if they want to start a business, they can fulfill their desire and they can stay in Pakistan and learn a skill or do a business and earn their livelihood.
Prime Minister youth Loan Scheme Features
The Prime Minister Youth Loan Scheme is completely interest-free, meaning no interest will be charged on it up to Rs. 5 lakh.
You can take a loan of more than five lakhs, but you will be charged interest on it, but no interest will be charged up to five lakhs.
Both men and women living in Pakistan can apply for this loan scheme.
Men and women can also take out loans for new businesses and can also lend to expand existing businesses
The biggest advantage of this is that you don’t have to submit any physical application; you can apply from home.
Apart from this, you can also withdraw the loan amount into your account and also receive it from the bank
PM Loan Eligibility Criteria
.
- Only men and women from Pakistan can apply.
- The applicant must have their original identity card.
- In addition, the applicant must have proof of address, etc.
- The applicant must have complete details regarding the business.
- The applicant must have technical education, that is, business skills.
Required Documents
- Must have ID Card ( Original and Photocopy)
- Education Certificates.
- Business Proff (Already Existing )
- Experience Letter.
- Bank Accounts
Illegibility
Foreigners who belong to foreign countries will not be able to apply for the scheme or those who do not have their original ID card will also not be able to apply for it. In addition, people who do not have business skills will also not be able to apply for it. In addition, those who have already taken a loan from a bank will not be able to apply for it now.
Loan Details
Applicants can apply for loans ranging from Rs 50,000 to Rs 500,000 if they want to get an interest-free loan.
Interest Free Loan
| Loan Type | Ammount |
| Interest Free Loan | 50,000 to 500,000 |
Loan Repayment Details
Under the Prime Minister Loan Scheme, you can repay this loan in one go over a period of eight years.
Calculation
How to Apply for PM Loan Scheme ?
- All applications belong to Pakistan have to be submitted online at the following link/ address: https://pmyp.gov.pk/bankform/newapplicantform.No Need to Submit Physical Application form.
Read All Instruction About Loan Scheme Enter Your CNIC Number also write CNIC Issue Date Selection 1
Click on enter.and Fill Your Online Application form Carefully.
General Instruction
- Incomplete Applications form about loan Apply will be Rejected.
- Bank Defaulters person Application will not be Accepted.
- Wrong Information wilil be Lead to Failure.
Browse for More News : Ehsaas Program 2024 Online Registration