Prime Minister Youth Loan Scheme
PM Youth Loan Scheme: Prime Minister Shahbaz Sharif has announced providing youth business loans with low markups Prime Minister Youth Business and Agriculture Loan 15 commercial and Islamic various SME banks will provide loans to youth for business on easy and interest-free terms All Pakistani youths between the age of 20 to 45 years are eligible to apply for this program to enhance their business potential. IT E-Commerce youth should be 18 years of age.
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The loans provided by the Prime Minister under the Agriculture Loan Scheme and Youth Business Scheme will be divided into three tiers: the first tier range will be zero index five million with zero Percent markup and the second tier range will be zero to five million. At the top, a tip is done with a markup of five million and five Percent; the third and final tier range is also increased to five million, and its markup rate is also increased to seven Percent.
How To Apply For Loan?
If you want to submit an application in the PM Youth Scheme Business and Agriculture Loan Scheme, then you are given an easy way to apply here With the help of which you can easily submit the application for this scheme. To apply for the PM Youth Scheme and Agriculture Loan, you have to click on the button below as soon as you click on the button in front of you. You will be presented with the official portal the Government of Pakistan issued, from which you must enter your information.
Document Required For PM Youth Loan
- You must have a National Identity Card.
- You should have an account with any bank.
- The money will be credited to your account after 45 days as soon as you apply.
- IT business should have a matriculation certificate.
- Those in the agriculture sector should have monthly income expenditures and tubewell bills.
PM Youth Loan Amount And Interest Rate
| Tiers | Amount Of Loan | Interest Rate Of Loan |
| 1 | 500,000 | 0% |
| 2 | 500,001-1,500,000 | 5% |
| 3 | 1,500,000-7,500,000 | 7% |
Purpose Of The PM Youth Loan
The beneficiaries of this scheme are required to fulfill the prescribed conditions. If any individual cannot fulfill the prescribed conditions, he cannot avail of a loan through the PM Youth Scheme. The age of the borrower should be between 18 and 45 years Through the PM Youth Business Scheme, small and large-scale entrepreneurs are then given loans through easy installments to improve the economy of the country and to provide facilities to the youth, loans are to be provided on easy terms.
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