Hi Everyone! Hope you are all doing well. Welcome back to another blog. In this blog, we will talk about, PM Youth Business and Agriculture Loan. PMYB & ALS 15 Commercial Islamic and SMI Banks encourage young people to start their own businesses by offering easy-to-obtain loans with low-interest rates. Any Pakistani resident between the ages of 21 and 45 can apply for this business loan. For IT/E-commerce ventures, the minimum age requirement is 18. To apply, please visit our website and submit your application online. This loan program is divided into three different levels.
- Tier 1: The amount is 0.5 million PKR and there is no interest charged.
- Tier 2: The amount ranges from 0.5 million PKR to 1.5 million PKR, with a 5% increase.
- Tier 3: The amount ranges from 1.5 million PKR to 7.5 million PKR, with a markup of 7%.
Eligibility Conditions
- All individuals between the ages of 21 and 45 holding a valid CNIC are eligible if they possess business potential.
- For e-commerce or ET business-related ventures, the minimum age requirement is 18 years.
- A basic education equivalent to at least a matriculation level is mandatory for individuals and sole proprietors.
- For partnerships or directors in other types of businesses, including pandemic-related enterprises and companies, the specified age range applies.
- Youth-owned startups and existing small and medium-sized businesses are also eligible.
- Farmers in the agriculture sector will be evaluated based on qualifying criteria for SBP credit limits and agriculture financing.
Application Procedure
Borrowing through this program is simple and easy. Just follow these steps to obtain a loan effortlessly:
- Click on the Application Form button provided.
- Fill out the form with all your information.
- The government of Pakistan will evaluate your information.
- If you are eligible for a loan, you will be notified.
- To check the status of your application, click on the application status button.
- If you want to know your monthly payment amount and the loan duration, click the links below.
To Check the status of your application then click on the given link below;
To evaluate your Loan installments for each month, then click on the given link below;