Prime Minister Youth Loan Scheme 2013-14 Pakistan

Monday, December 9, 2013, 7:26
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Prime Minister Nawaz Sharif has announced loan scheme for young persons, for which details are as following:

How to apply for Prime Minister loan scheme 2013-14

Here is step by step process to apply for Loan Scheme 2013.

1) Download application form from the website, take a print out and fill it. Otherwise you can take the application forms from National bank of Pakistan (NBP) or First Women bank Limited (FWBL).

2) One personal guarantee is required only. The guarantee can be provided by: Government Servant of BPS-15 or above, OR, any individual having net worth of 1.5 times of the loan amount applied for. Net worth is total assets (immovable or moveable) in the individual’s name minus any liabilities like loans from individuals or banks.

3) As borrowers Capital, you’re required for 10% of the loan amount.

4) You cannot apply for loan if you’re a bank defaulter.

5) Documents required along with loan application form are following

a) Photocopy of applicant CNIC

b) Photocopy of guarantor’s CNIC

c) 1 recent passport size photograph of the applicant

d) Copy of SMEDA pre-feasibility study or Applicant’s own prepared business plan

e) Basic borrower’s fact sheet (part A of form)

f) Guarantor’s information (part B of form)

Are you interested to register in Prime Minister Youth Program?

Prime Minister Youth Program Application Details

Loan applications can be submitted in all the branches of National Bank of Pakistan and First Women Bank Limited.

At the time of form submission, Rs 100 has to be paid as processing charges to participating banks. To process the loan, 15 days are required by participating banks.

The bank will inform you about loan through letter/ telephone call/ SMS/ email, through no. 80028 or website www.pmo.gov.pk.

The amount of loan is from Rs.1,00000 to Rs.20,00000.

Start Business

You can start your business after getting loan. First loan installment will be due after one year of disbursement of loan. Mark up is 8% p.a. Tenor of the loan is 8 years, which includes one year grace period.

More details for Application forms, for loan scheme can be obtain from official site. This scheme is different from Laptop scheme.