Prime Minister Youth Loan Scheme 2018 starts again today date 11-03-2018 government of Punjab publish advertisement on Jang News paper according to PM Youth Business Loan scheme government of Punjab will be distribute Loan more than 400,000/- families.
Contact following bank branches to get PM Loan scheme 2018
National Bank of Pakistan(Branches)
Frst Women Bank Limited(Branches)
Habib Bank Limited(Branches)
Habib Metropolitan Bank(Branches)
Al Baraka Bank(Branches)
Dubai Islamic Bank(Branches)
Allied bank Limited(Branches)
Muslim Commercial Bank(Branches)
United Bank Limited(Branches)
PM Youth Business Loan Scheme New Terms & Conditions
update:11 March 2018 the applications again open now you can apply for Pm Youth Loan Scheme from dated: 12-March-2018
|Brief Description||Small business Loans will focus on (but will not be restricted to unemployed youth, especially educated youth looking for establishing or extending business enterprises.|
|Eligibility criteria||All Men/Women holding CNIC, aged between 21 and 45 years with entrepreneurial potential to apply from designated branches mapped with area of residence/business.|
|Security Requirements||One Guarantor|
|Permissible Collaterals||Business hypothecation|
|Focus on women||50% of loans will go to women borrowers.|
The borrowers’ contribution of equity would be in the form of cash or immovable property and will be required after approval of the loan.
|Loan Period||The maximum tenor of the loan is 8 years, including one year’s grace period|
|Pricing||8% fixed for borrower. Government will pay the difference of the cost of KIBOR + 500 bps.|
|Number of loans||100,000|
|Size of Loan||Upto Rs 2,000,000 (Twenty Lacs)|
|Allocation in budget 2013-14||Rs. 5 Billion|
|Executing agency||In the first instance, National Bank of Pakistan (NBP) and First Women Bank Limited (FWBL) under the guidance and supervision of State Bank of Pakistan( SBP) to ensure participation of private banks:|
a) Private banks will be required to participate in this scheme on the basis of soundness of business proposals; and
b) SBP will encourage private banks to build this portfolio commensurate with their size.
c) SBP will arrange appropriate training for private banks to implement this scheme.
d) NBP will continue to play the lead role
|Sectors and Products||All sectors. Standardized schemes /projects/undertakings will be designed by SMEDA, projects designed by private sector service providers or individuals themselves will also be admissible.|
Role of SMEDA:
a) The 50 feasibilities prepared and uploaded by SMEDA will b extensively publicized and their access to public made easier through multiple linkages with other relevant websites.
b) SMEDA will work closely with Punjab Information Technology Board (PITB) to ensure that the schemes are accessible to those who participate in PITB survey.
|Application Form||The Form would be both in English and Urdu, and required minimum essential information with simple format.|
The processing time will not exceed 15 days and will be so stated clearly in the application form; and
The form would be readily available both in branches and through dedicated websites of the banks.
Non – refundable form processing fee will be Rs. 100 (One Hundred)
|Monitoring||SBP will publish consolidated information about the loans extended under the scheme for information of the public on quarterly bases on its website;|
An effective Complaints Center to process and resolve complaints will be set up;
E-government directorate of Ministry of IT will provide support
|Geographical Distribution||Whole of Pakistan. In case of Baluchistan, at least one branch of NBP will be designated per Division.|
All non-designated branches will also provide and receive filled application forms and dispatch them to the nearest branches.
For Complaints, Enquiries or Facilitation, TOLL FREE Number 0800-77000
Prime minister youth Business loan scheme announced new terms and conditions today by Nawaz sharif for promoting small business activities in Pakistan. Prime Minister Nawaz sharif said in Karachi about changing the policies of youth business loan scheme.
The instruction of PM Loan scheme has stricter that poor youth can’t avail this offer. Middle and poor population cannot complete the terms and conditions of this scheme. Now again Nawaz sharif takes few steps to made easy this scheme that every Pakistani can reach this loan scheme.
Before this only national banking account holders can submit or avail this loan offer, butt every bank Account holder can avail this loan offer.
Prime Minister Nawaz sharif order to authorities of this scheme for facilitation of applicants of loan scheme first is grade 15 or above government officer, second any civilian person that have the property worth of 1.5 times the amount of loan, Can applied for any thirdly if a person has running business and wants to expand it.
Nawaz sharif order to bank officers to facilitate better to loan applicants in everywhere in Pakistan, he emphasised on merit in this scheme so that only deserving and genuine youth can avail this offer.
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