Monday, 15th April, 2024
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PM Youth Loan Scheme 2024 Online Apply Check Status Application Tracking

PM Youth Loan Scheme 2024 Online Apply Check Status Application Tracking

Young entrepreneurs in Pakistan are welcome to avail the fresh opportunity named PM Youth Loan Scheme 2024 Online Apply Check Status Application Tracking announced by the Prime Minister of Pakistan, Mian Muhammad Shehbaz Sharif on quite simple terms and conditions. The Prime Minister Youth Business Loan (PMYBL) Scheme carries a low markup rate as compared to the interest rate announced by the State Bank of Pakistan for all the commercial, Islamic, and SME banks in Pakistan. The loan approval is going to be held by the authorized banks and the scheme is subsidized by the Federal Government of Pakistan. Once you apply for the PM Youth Loan Scheme we suggest you wait for the bank’s response.

PM Shehbaz Sharif is very keen to encourage young entrepreneurs to step forward and play a vital role in the economy of Pakistan. In the following, you’ll have complete information regarding the Youth Loan Scheme including Eligibility Criteria, Application Form, Required Documents, Loan Calculator, and Application Tracking Facility as per the instructions provided at the official portal at www.pmyp.gov.pk.

As there is no last date announced for the Prime Minister Youth Business Loan Scheme every desiring applicant should apply as soon as possible because the Government of Pakistan has allocated 30 billion Rupees for the loan scheme and a total of 40,000 deserving people shall avail of this opportunity on a merit basis. The basic purpose of opportunity is to enhance the Business and agriculture sector in Pakistan by the young and energetic individuals across Pakistan.

www.pmyp.gov.pk Loan Scheme 2024 Registration Online

 

Eligibility Criteria:

  • All Pakistani Nationals having valid CNIC and aged between 21 to 45 years are eligible to apply.
  • For those who belong to IT/E-Commerce related business, the lower age limit will be 18 years with at least Matric or equivalent education required to apply.
  • Females are highly encouraged to apply because a 25 Percent quota is allocated for females.
  • National Tax Number (NTN) is not required during the application submission procedure but if someone has an NTS can increase the chances of selection

Loan Size:

The loan size is segregated into 3 tiers given below.

  • Tier-I: Loan carries an amount up to Rs. 500,000/- PKR with 0% markup.
  • Tier 2: Loan carries amount up to Rs. 15,00,000/- PKR with a 5% markup.
  • Tier 3: Loan carries amount up to Rs. 75,00,000/- PKR with a 7% markup.

Required Documents for PM Youth Loan Scheme 2024:

The following documents are compulsory to be provided during the online application submission procedure.

  • Passport-size picture.
  • Scanned CNIC on both sides.
  • Latest educational degree i.e. (Matric, Intermediate, Bachelor, Masters, or above).
  • National Tax Number (Not Compulsory).
  • Consumer ID of electricity bill of the current home address provided in an online application.
  • Consumer ID of electricity bill of current office address, if any provided in the online application.
  • Registration number of any vehicle registered in your name.
  • Name, CNIC, and mobile numbers of two references provided in the application.
  • Detail of monthly income and expenses.
Prime Minister Youth Loan Scheme 2024 Online Apply

How to Apply for PM Youth Loan Scheme:

  1. Visit Prime Minister Youth Program’s official portal i.e. https://pmyp.gov.pk/bankform/newapplicantform or through the button given below.
  2. Provide the CNIC number and the CNIC issue date in the prescribed box.
  3. Selected a tier i.e.
    • Tier 1: Loan PKR 5 Lakh.
    • Tier 2: Loan 5 to 15 Lakh.
    • Tier 3: Loan 15 to 75 Lakh.
  4. Provide all asked information in the prescribed section.
  5. Add reference details in the prescribed fields i.e. Name, CNIC numbers, and Mobile Numbers.
  6. In the end, the system will create the Declaration Form, read it carefully before submitting it because once you submitted it you’ll not be able to make any corrections and changes.

PM Youth Loan Scheme Status Check:

Click the following button to check the status of your loan application and provide following details prescribed below. Make sure the detail you are going to provide for PM Youth Loan Scheme 2024 tracking, should be provided during form submission.

  • Applicant’s CNIC number.
  • CNIC Issue Date.
  • Applicant’s Mobile Number.
  • Applicant’s Date of Birth.
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Xaibi (Staff Member)
An experienced professional in Pakistan, specializes in blog articles covering various aspects of job-related topics. These articles include practical insights into joining organizations, understanding salary structures, and navigating hierarchical ranks within companies. By offering comprehensive analyses, the author provides valuable guidance for readers seeking to navigate the unique challenges and opportunities in the Pakistani job market. The articles serve as a valuable resource, demystifying recruitment processes and offering insights into career growth and development.

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