Prime Minister Youth Loan Scheme Details In Urdu

By | January 24, 2023

Prime Minister Youth Loan Scheme Details In Urdu. Download the PM Youth Loan Scheme 2023 Form (Details in Urdu). The PM Youth Loan Scheme will continue in 2023 as well.

All details about this scheme are available on this page in Urdu and English. Now Sindh Bank is also accepting application forms for PM Youth Business Loan Scheme 2023.

Prime Minister Youth Loan Scheme Details In Urdu

Prime Minister Youth Loan Scheme Details In Urdu

Conditions for guarantors have also been relaxed. All citizens of Pakistan and Azad Jammu and Kashmir having computerized national identity cards, between the age of 21 to 45 years are eligible to apply for this scheme.

Read Also: Prime Minister Youth Loan Scheme Registration Online Apply

Only one guarantor is required. Fifty per cent of the loan will be given to women. A 5% quota has been allocated for martyrs, widows and dependents of special persons.

PM Prime Minister Youth Loan Scheme

The debt-equity ratio will be 90:10, which means that the borrower will have to provide at least 10 per cent of the total equity while the remaining 90 per cent will be financed by the bank. The equity contribution of the borrower is also admissible in the case of immovable property.

The loan will be given for 8 years. It includes a grace period of only 1 year. The borrower has to pay only an 8% annual markup. A total of 100000 loans will be given under PM Youth Loan Scheme 2023. The maximum loan size available is 2 million and the minimum is 1 lakh.

PM Youth Loan Scheme 2023 Form Download (Details in Urdu)

Samedi has uploaded 50 business plans on its website which can be downloaded for free. You can also create your own business plan. It is mandatory to attach a business plan along with the PM Youth Loan Scheme 2023 application form.

Prime Minister Youth Loan Scheme Details In Urdu

You can download the application form through the link given below. You can get the hard copy of the application from all branches of National Bank Limited and First Women’s Bank Limited, Sindh Bank and 25 Samedi Help Desk offices across the country.

Read Also: Prime Minister Youth Loan Scheme Last Date

The application form is free but a processing fee of Rs.100 will be charged while submitting the application. Prime Minister Youth Loan Scheme Details In Urdu.

Remember Main Points

  • No application will be received for a business that requires more than 2 million in financing. But if you can arrange the remaining equity, you can apply for a business that requires more than Rs 2.4 million.
  • The following documents are necessary basic required along with the application. A passport-size photograph Copy of CNIC Copy of guarantor’s CNIC Basic Borrower Fact Sheet (Form Part A) Guarantor Information (Form Part B) Feasibility Report
  • SMEDA has developed a financial calculator to calculate monthly loan instalments. This will not include bank charges.
  • There is no minimum eligibility requirement for this scheme.
  • It is claimed that banks take 15 days to process the loan.
  • You can also get a loan for your existing business.
  • Bank will not charge any penalty in case of early retirement. A balloon payment is also acceptable.
  • There is no last date for application.
  • Government servants of Grade 15 or above with at least 8 years of service remaining can furnish the guarantee. Any other person who has a net worth of 1.5 times the loan amount applied for can provide collateral.
  • The borrower has to pay the first instalment of the loan one year after disbursement of the loan.
  • Blood relatives, self, and even more than 1 person whose net worth is 1.5 times the loan amount can guarantee.
  • Names of unsuccessful applicants will automatically be included in the next draw. Visit your favourite portal daily for the latest alerts about PM Youth Loan Scheme. Best wishes in your future business ventures.

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