Sat. Jul 27th, 2024
Prime Minister Youth Business Loan January Latest Update 2024

Prime Minister Youth Business Loan Online Apply 2024

Prime Minister Youth Business Loan Prime Minister Mian Muhammad Shahbaz Sharif has announced this under Pakistan’s increasing poverty and inflation. That loan should be provided to Pakistan’s young generation.

Through loans, they can start their own businesses. Under this scheme, the young generation’s spirit of business will be highlighted, and they will develop. Remember that those who are deserving, educated, and unemployed can join this program and get free loans.

It should be remembered that Mian Muhammad Shahbaz Sharif aims to eliminate maximum unemployment among the young generation and provide good employment.

Remember, if you also want to join this program, you are told some easy procedures. After that, you get loans and you can extend the loan period and use this loan to do business. Akhuwat Loan Scheme

If you have already joined the successful youth program under this scheme and have been unable to get a loan, you can easily get one by following the given criteria.

Eligibility Criteria 

Only those who meet the criteria will be admitted to the program

  • Remember, if you follow the given steps and meet the criteria, you will be included in this program and get money in every loan scheme.
  • You should be between 21 and 45 years of age to join this program
  • Remember you must have any business ability or any business skills
  • If you want to start an IT or e-commerce business, you must be at least 18 years of age.
  • Note that the above age limit applies to individual and single dwellings
  • Even if you have any land or property in your name or you are done any business before, you can get a loan
  • Remember that this loan is being given only for business purposes. If you want to build a car or house, you will not get a loan.
Prime Minister Youth Business Loan New August Update 2023

How To Apply

To join the program you have to follow a few easy steps then your joining is done online or offline.

  • First, you must go to any branch of the Bank of Punjab nearest you.
  • If you can’t go, then no problem. You have to go to the official website of HBL or Bank of Punjab on your mobile.
  • After going there, you must click the Prime Minister’s Loan Scheme button.
  • You will be given an application form and must give complete information to apply.
  • After doing all this you have to submit your application and wait for a few days
  • Remember that you can get this done from any bank and get the loan from the Bank of Punjab.
  • If you want to get a loan from another branch of the Bank of Punjab, you have to apply again for that too.

List of Banks For PM Youth Business Loan Program 2024

  • Allied Bank Limited
  • Albaraka Bank Limited
  • Askari Bank Limited
  • Bank Al Falah
  • Bank Al Habib
  • Bank Islamic Pakistan Limited
  • Bank of Khyber
  • Bank of Punjab
  • Dubai Islamic Bank Limited
  • Faysal Bank Limited
  • First Woman Bank Limited
  • Habib Bank Limited
  • Habib Metropolitan Bank Limited
  • JS Bank Limited
  • MCB Bank Limited
  • Meezan Bank Limited
  • MCB Islamic Bank Limited
  • National Bank of Pakistan
  • Sindh Bank Limited
  • Soneri Bank Limited
  • United Bank Limited

Important Notes

  • To submit an application you have to sign up first. To start this application you must have a mobile number registered in your name and the bank will contact you.
  • Subject to the availability of your information, this request will take at least 15 minutes to complete. You can complete the form at once or save it for later submission
  • Please upload as much information as you have, financial statements, business prospectus, bank statements of the last six months, etc. This will help us to better evaluate your application.
  • After submitting the form, your application registration will be displayed on the screen You will also receive an SMS informing you once your application has progressed to the next stage of the process
  • So you will receive an SMS that you can also check the status of your submitted application on this website

You Can Also Read: Ehsaas Interest-Free Loan Program

Installments/Repayment of PM Business Loan 2024

  • The loan can be repaid in equal monthly, semi-annual, bi-annual or annual instalments
  • However, the exact payment terms depend on the specific business types and banks’ discretion
  • Applicants are encouraged to discuss these terms with the bank while finalizing the loan. The scheme allows a maximum grace period of one year.
  • However, the specific grace period will depend on the specific types of business and the decision of the banks. The applicant is encouraged to discuss the terms with the bank at the time of finalizing the loan.
  • which will reduce the impact of their liability Banks have no limit on the number of repayments Borrowers can repay bills only if
  • When the loan is regular i.e. there are no overdue instalments, the defaulting applicant has the option to choose to reduce or reduce the repayment period of the loan or a combination of both.
  • The borrower can repay the loan in full any time before the maturity date of the loan

Prime Minister Youth Business Loan calculator

Do you want to know how you can get your loan?
How much loan will you be able to get? Without this information, you will not get the loan It is therefore inevitable that some people approach the bank without verifying their information, but they face failure

So first verify your information. After verifying the information then, go to the office so that it is easy for you to get a loan, and you can start your business you are told which business is suitable for you.

Loans are also given depending on the nature of the business that you can run if you want to start a business. So you must have information related to this, without which you cannot get a loan As soon as you can get the loan and your business is running, then you can pay back the loan.

By Iqra Iqbal

My Name is Iqra Iqbal. I am a dedicated professional who manages the BISP Payment Distribution and Registration Desk at the BISP office. With a focus on providing accurate and timely information, I play a crucial role in ensuring the smooth operation of payment distribution and registration processes. Her role requires meticulous attention to detail and a deep understanding of the BISP program, which provides financial assistance to deserving individuals and families. Through her work, I contribute to the welfare and well-being of those in need, positively impacting their lives. Her commitment to her role reflects her passion for helping others and her dedication to making a difference in the community."