Prime Minister Interest Free Youth Business Loan Scheme 2023

Prim Minister Interest Free Youth Business Loan

In an effort to support the economic development and growth of Pakistan, Prime Minister Shahbaz Sharif has announced an Youth Business interest-free loan scheme for the year 2023. The scheme is aimed at providing financial support to those who are unable to access traditional forms of credit or who have been negatively impacted by the COVID-19 pandemic. 

Eligibility Criteria:

• To be eligible for the loan scheme, applicants must meet the following criteria:
• The applicant must be a citizen of Pakistan.
• The applicant must be over 18 years of age.
• The applicant must not have availed any loan scheme from any bank or financial institution.
• The applicant must have a valid CNIC.
• The applicant must have a business / Agriculture or must be interested in starting a business.

Application Process:

To apply for the loan scheme, applicants must follow these steps
Visit the official website of the loan scheme

Click Here 
Prime minister Youth Business Interest Free Loan Online 

Download the application form and fill in the required details.
Attach all the necessary documents, including a copy of your CNIC, business plan, and any other relevant documents.
Submit the application form and documents to the designated office or bank branch

Loan Disbursement

Once the application has been approved, the loan amount will be disbursed to the applicant's bank account. The loan amount can range from PKR 50,000 to PKR 2,000,000 depending on the applicant's business plan and financial requirements.

Loan Repayment

The loan will be interest-free, and the repayment period will be up to 5 years. The repayment process will begin after the grace period of 6 months from the date of disbursement. The borrower will be required to repay the loan in monthly installments.

Interest free loan partner organization and banks

• National Rural Support Program ,
• Thardeep Micro Finance 
• Dameen Support Program Panjab 

It is likely that these banks, as well as others, may be involved in the implementation of the interest-free loan scheme in 2023.

It is important to note that applicants should only submit their applications to the designated offices or bank branches that are authorized to receive them. It is recommended that interested applicants stay updated on the official website of the loan scheme for any updates or announcements regarding partner organizations and banks involved in the scheme.