The Prime Minister's Youth Business & agriculture loan Program in Pakistan is taking steps to encourage self-employment and entrepreneurship by re-launching the Youth Business and Agricultural Loan Schemes.
The objective of these programs is to provide financial assistance to young people who want to start their own businesses or pursue agricultural ventures.
According to information obtained by media reports , eligible individuals between the ages of 21 and 45 can access loan amounts of up to 7.5 million rupees through these programs. For those interested in IT and E-commerce businesses, the age limit has been lowered to 18 years.
The government's goal with these loan schemes is to foster a culture of job creation rather than job seeking among the country's young population. Providing micro-financing through small business loans will help to achieve this objective.
In addition, the introduction of agricultural loans will provide an opportunity for rural youth to bring new ideas and technologies to the farming sector.
To make these loans more accessible and affordable, the government has established a tiered interest rate structure based on the loan amount. For loans up to 0.5 million rupees, there will be no interest charged.
For loans between 0.5 million and 1.5 million rupees, the interest rate will be 5%. For loans above 1.5 million and up to 7.5 million rupees, the interest rate will be 7%.
To promote gender equality and female empowerment, the government has reserved a 25% quota for women. This means that one out of every four loan beneficiaries under these programs will be a woman. By doing so, the government hopes to support women entrepreneurs and increase their participation in the country's economy.
Eligibility Criteria for PMYB&ALS Loan Program
Eligible Participants:
- Any Pakistani National, including residents of Azad Jammu and Kashmir and Gilgit-Baltistan, who holds a CNIC or Form B.
- Age: 18 to 45 years old.
Note: To participate in IT and E-commerce businesses, the lower age limit is 18 years.
Prime minister Business & agriculture Loan Amount Tiers:
- Up to 0.5 million rupees
- Between 0.5 million and 1.5 million rupees
- Between 1.5 million and 7.5 million rupees
Banks Offering the PM Youth Business' & Agriculture Loan
- Bank Of Punjb.
- NBP.
- Askri Bank
- Habib Bank Limited.
- Meezan Bank Limited.
- Aukhwat Islamic Microfinance Bank.
- U Microfinance Bank.
How to Apply for PM Youth Business and Agriculture Loan
Learn how to apply for the PM Youth Business and Agri culture loans online
To apply the PM loan click here
- Enter CNIC number
- Enter CNIC issuance date.
- Select the Tier.
Here is the details for the registration process of Prime minister Youth & Business loan.
Registration Process
- Government Employee: Select Yes or No from drop-down menu
- Resident of Pakistan: Select Yes or No from drop-down menu
- Bank for Loan Application: Select bank under Youth Entrepreneurship Scheme
- Bank Employee: Select Yes or No
- Politically Exposed Person: Select Yes or No
- Business Status: Select new or existing from drop-down menu
Note: Ineligible for loan if government employee, politically exposed person, or bank employee
Section B: Personal Information
- Full Name (as per CNIC)
- Gender: Select from drop-down menu
- CNIC Number (and re-entry)
- CNIC Issue Date (and re-entry)
- Date of Birth (and re-entry)
Note: Information verified by NADRA, fill with care
- Dependents: Select number from drop-down menu
- Marital Status: Select from drop-down menu
- Father/Husband/Guardian Name
- Father/Husband/Guardian CNIC Number
- Religion: Select from drop-down menu
- Disability: Select Yes or No from drop-down menu
- Source of Income
- Monthly Income (PKR)
- Additional Monthly Income
- Bank Account (name and number)
- Personal Wealth Detail
- Utility Bill Consumer ID
- National Tax Number
Note: NTN not mandatory but increases selection chances
- Passport Size Picture (clear and not a selfie)
- CNIC (front and back)
- Education Level: Select highest level from drop-down menu
- Technical Education: Select from drop-down menu (None if not applicable)
- Technical Skills: Select from drop-down menu (None if not applicable)
- Educational Degree/Certificate
- Technical Education Certificate/Diploma (if any)
- Artisanship/Skill Proof/Certificate (if any)
Contact Information
- Present Address
- Present Province, District, Tehsil: Select from drop-down menu
- Permanent Address (if different)
- Permanent Province, District, Tehsil: Select from drop-down menu
- Residence Phone/Landline Number
- Primary Mobile Number
- Secondary Mobile Number
- Primary Mobile Number Registered: Select Yes or No
- Email Address
- Residence Type: Select from drop-down menu
Section E: Business Information
- Business Main Category: Select from drop-down menu
- Business Sector: Select from drop-down menu
- Business Sub-Sector: Select from drop-down menu
- Official Business Name
- Business Details
- Business Address: Select from drop-down menu (or provide residential)
- Business Province: Select from drop-down menu
- Business District, Tehsil: Select from drop-down menu
