PM Youth Loan Scheme Online Registration 2023
PM Youth Loan Scheme is a program for poor youth who have some skill or ability to work and do not have money to work so the government is giving them loans at easy markup which is 15 commercial, Given through Islamic and SMSE banks.
For giving loans, the government of Pakistan has set some terms and conditions, after fulfilling which the government gives loans. Applications are submitted online through the official website of the government.
Apart from these loans, the government is giving laptops to educated youth. Every youth in Pakistan should get a loan by joining the Prime Minister Youth Loan Scheme.
All national identity card holders of Pakistan between the ages of 21 to 45 years and capable of doing business are eligible for this.
For e-commerce or IT-related businesses, the minimum age limit should be 18 years, and at least matriculation or equivalent education is required. Persons above the age limit must be landlords.
Small and Medium Enterprises Start-ups and existing businesses owned by youth. Also eligible as per the above-mentioned age charts. In the case of agriculture, the classification of farmers will be applicable as per SBP indicative credit limit and eligible commodities for Agriculture Financing 2020.
You can also register in Ehsaas Program CNIC Check Online 2023 | 8171 web portal
Video Tutorial PM Youth Loan Scheme:
The objective of PM Youth Loan is to make the youth successful and stable so that the youth can be successful and become an asset to Pakistan. Under this program, interest-free loans are given to the youth. Loans up to 500000 lakh rupees are being given on zero-interest
You can also visit the official website
Video Tutorial about PM Youth Loan Scheme Online Registration 2023 for Guideline:
PM Youth Loan Scheme Online Registration
If you want to register online for the PM Youth Loan Scheme, then the procedure is very easy, first of all, you have to open the official link of this program. As soon as you open it, it will ask you for some information. He will tell you that, and then you have to tell him that information, after that, you will be registered online in the PMU loan scheme.
PM Youth Loan Scheme
The PM Youth Loan Scheme program was created because people who are educated in Pakistan are still unemployed. So the government is giving them interest-free loans so that they can start their own business and live their lives in a better way. So you can also get a loan from the PM Youth program to improve your life and start your own business.
PM Youth Loan Size
Prime Minister Youth Loan consists of three tiers in size which are as follows.
Tier No. 1. 0.5 million with zero markups.
Tier No. 2. 0.5 million to 1.5 million with a five percent markup.
Tier No. 3. A 7% percent markup from one decimal five million to 7.5 million.
Loan repayment period
T2 and T3 have tenors of up to eight years or a maximum of one year for long-term development loans.
Under T2 and T3 working capital production loan and Muraba tenure will be up to 5 years. Banks will have the option of granting working capital productive loans in which only markup is payable during the first two years and thereafter both principals with markup are repaid over the next three years for a total repayment period of five years. It will last for a year.
Required Documents for Youth Loan Online Registration
You must have the following scanned documents and photographs before starting your application.
- Passport-size photograph.
- National Identity Card Front.
- National ID Card backside.
- Latest Educational Degrees Vasnad: Matric Intermediate Bachelors and Masters Ph.D. etc
Experience Certificate if any.
- License/Registration with a trade body or chamber if applicable.
- Letter of recommendation for provision of loan from concerned Chamber/Trade Organization or Union in case of existing business.
- Before starting the application you must have the following information.
- National Tax Number, if you don’t have it please register at this link.
- Customer identification number of current incoming electricity bill.
- Electricity Bill Identifier Customer Number if applicable to the current address.
- Full registration number of any vehicle registered in your name, if applicable. Names of any two persons other than their immediate relatives’ National Identity Card Number and Mobile Number.
- In the case of a new business, monthly business income is business expenses, household expenses, and other income estimates while in the case of an existing business, actual business income is business expenses,
- household expenses, and other income.
Eligibility Criteria for PM Youth Loan
All citizens of Pakistan holding CNIC between the ages of 21 to 45 years and capable of doing business.
The minimum age limit for IT/E-COMME-related businesses will be 18 years and a minimum of Matriculation or equivalent education is required. Applicable to qualified persons above the age limit and sole proprietors.
In the case of all types of business including partnerships and companies, only one of the owners, partnerships, or directors is required to be within the age limit specified above.