Prime Minister Youth Loan Scheme Started for PU Students LHR
Prime Minister of Pakistan which has been announced Youth Loan Scheme for the Students of Punjab University Lahore. All that students who want to take loan, so students of PU can apply for loan online. Its very great opportunity for those students who can start their own business on small scale, its beneficial step for PU students. Many of the educated people are focusing on Youth Loan Scheme.
The interested students need to submit small description of proposed business plans / projects to their heads of departments in next 24 hours. Students who want to get loan who should have to 10% of seed money with them for the requested of loan amount.
Youth Loan Scheme for PU Lahore Students which that top 50 students will be selected for that loan scheme and after selection they will be invited in Prime Minister House Islamabad on 25th November 2013. Please keep visit on this page to get latest updates about Youth Loan Scheme for PU students.
Salient Features of the scheme are:
- Loan up to Rs. 2 Million (Rs. 0.5 Million – Rs. 2 Million)
- Only 8% markup
- To be distributed by NBP (National Bank of Pakistan) & FWB (First Women Bank)
- Total loans are 1 lakh
- All Pakistani nationals
- Eligibility – 21 years to 40 years
- Minimum educational qualification is Middle
- Students need to submit feasibility of the proposed project
- One personal guarantee required
- The applicant must have 10% seed money
- 15 days approval time
- The loans will be awarded transparently on pure merit basis
- 50% quota is for women
- The loans are to be paid back in seven years
- Monthly installments
- To mitigate risk, Government will share 50% of the losses subject to the maximum of 10% of the loan amount.