November Update 2024: PM Youth Loan Scheme Registration Started
November Update 2024: PM Youth Loan Scheme Registration Started: On the instructions of Prime Minister Mian Muhammad Shahbaz Sharif, the registration of the PM Youth Loan Scheme has been started. Those candidates who were waiting for this scheme have a golden opportunity to benefit from the same scheme and get loans for their business and agriculture.
This scheme aims to provide people with low markup money so that they can grow their business. All Pakistani citizens between the ages of 21 and 45 can get loans through this pm youth loan scheme. The Prime Minister Youth Loan Scheme has been divided into three parts.
In the first part, interest-free loans of one lakh to five lakh rupees will be given, and in the second phase, loans of five lakh to 15 lakh rupees will be provided, and in the third phase, loans of 15 to 75 lakh rupees will be provided. We have provided complete details about the PM Youth Loan Scheme Registration process in this article so that you do not face any kind of problem and you can easily pm youth loan scheme apply online in this scheme and get benefits from this scheme.
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PM Youth Loan Scheme Details
Here is a quick overview is given for the PM Youth Loan Scheme below:
- Tiers 1 Loan Amount: 500,000
Markup/Interest Rate: 0% - Tiers 2 Loan Amount: 5 Lakh to 15 Lakh
Markup/Interest Rate: 5% - Tiers 3 Loan Amount: 15 Lakh to 75 lakh
Markup/Interest Rate: 7%
Eligibility Criteria for Prime Minister Youth Loan Scheme:
If you want to apply for the PM Youth loan scheme then you have a golden opportunity, you should apply online for the PM Youth loan scheme before the closing date. If you are eligible for the pm youth loan scheme then you can easily apply for this scheme. The Eligibility Criteria are given below for the Prime Minister Youth Loan Scheme:
- Age Requirement: The age limit for the Prime Minister’s Youth Loan Scheme is 21 to 45 years for both men and women and in addition, candidates who have IT businesses can also benefit from this scheme if they are 18 years old instead of 21.
- In this Scheme, 25 percent of women have been included in the quota.
Important Note: It should be noted that candidates who do not have Pakistani citizenship cannot benefit from this pm youth loan scheme.
Essentioanl document for the PM Youth Loan
Here is the Essentioanl document given below for the Prime Minister Youth Loan scheme:
- You should have Bank Account and Bank Account Details
- CNIC/National ID card
- If you want to get a loan for the IT Business loan you should have the matriculation certificate
How to Apply for the Prime Minister Youth Loan Scheme 2024
For those candidates who want to complete the registration for the Prime Minister Youth Loan Scheme, there is good news that the Government of Pakistan has started its registration, and the registration procedure is very easy. The registration procedure for the Prime Minister Youth Loan Scheme has been given below in detail:
- The first step, go to the Prime Minister Youth Loan Scheme portal: pmyp.gov.pk
- Enter your CNIC Card, CNIC Issue Date and select tier and then enter the button.
- Fill out the application form for the Prime Minister Youth Loan Scheme
- Submit the application for the Prime Minister Youth Loan Scheme with accurate information
Conclusion
The Prime Minister Youth Loan Scheme has been launched in November 2024. This is a golden opportunity for those candidates who want to get a loan from this scheme. In this article, we have provided complete details of the Prime Minister Youth Loan Scheme so that you do not have to face any kind of problem. In this article, we have provided the application procedure, eligibility, and its complete details.
FAQ for PM Youth Loan Scheme
Is Overseas Pakistanis can apply for the Prime Minister Youth Program?
Ans: No, the overseas Pakistani cannot apply for the PM Youth Loan Program.
