Prime Minister Youth Business and Agriculture Loan Scheme 2024 has been launched by the Government of Pakistan. All Pakistani men and women between the age of 18 to 45 years can get a loan for business purposes. are Loans can also be taken for starting a new business and if you already have a business, you can also get a loan to scale up your business.
Three categories of loans have been created by the Government of Pakistan. You can get a loan under one of these categories. The Government of Pakistan is providing loans from five lakh rupees to 75 lakh rupees. You have to pay back the loan monthly within eight years. Both men and women of Pakistan can apply for this scheme. 25% of the loans are reserved for women.
Prime minister youth loan scheme 2024 eligibility criteria?
- Candidate’s age should be between 21 years to 45 years. If candidate wants to start e-commerce business then candidate’s age should be between 18 years to 45 years.
- Candidate must have Pakistani Nationality.
- Candidate must have identity card.
- Candidate must have business in Pakistan.
Three types of people are ineligible for the Prime Minister Youth Business Loan Scheme 2024
- Candidates who submit physical application in any Pakistani bank are ineligible.
- Overseas Pakistanis are not eligible for Prime Minister Youth Business Allowance Scheme.
- Government civil servants are not eligible for Prime Minister Youth Business Scheme.
Prime minister youth loan scheme 2024 Minimum and Maximum loan Limits
Three categories have been introduced under the Prime Minister Youth Business and Agriculture Loan Scheme. A candidate can take a loan under any one of these categories.
First category: Under the first category, a candidate can get a loan ranging from Rs.1 lakh to Rs.5 lakh.
Second category : Under the second category, a candidate can get a loan ranging from Rs.5 lakh to Rs.15 lakh.
Third category: Under the third category, a candidate can get a loan ranging from Rs 15 lakh to Rs 75 lakh.
What is the interest rate of the Prime Minister loan scheme?
- Candidates taking loans under the first category can get the loan without any interest at all.
- Candidates taking loans under the second category will pay five percent markup.
- Candidates taking loans under the third category will pay a fixed seven percent markup.
How to online apply for prime minister youth loan scheme?
Candidates who want to get loan under Prime Minister Youth Business Launch Scheme open the link given below and submit online application by visiting the official website of prime minister youth loan scheme.
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