Prime Minister Youth Loan scheme

Prime Minister Youth Loan Scheme (Business & Agricultural) | Eligibility Criteria & How to Apply.

Prime Minister Youth Loan scheme
Prime Minister’s Youth Loan scheme

Are you ready to take advantage of Pakistan’s best Prime Minister youth loan scheme for entrepreneurs? With simple and uncomplicated terms, you can now apply for Prime Minister’s Youth Business and Agricultural Loan Scheme 2023. The Pakistani Prime Minister has proposed a loan program for young businesses (PMYB&AL) with lower markup and without any markup in its first tier. All commercial, Islamic, and SME banks will offer PM Business loans to qualified applicants. You can apply whenever you need to receive a loan through this program since there is no specified deadline. The PM youth Loan scheme’s eligibility requirements apply to all Pakistani banks.

For this Prime Minister youth loan scheme, you can only apply to one bank at a time. Loan repayment terms can last up to 8 years, plus a maximum of 1 year of grace. Although having a National Tax Number (NTN) is not required, it will boost your chances of success. There is also a great initiative by the government named the “Benazir Income Support Program.” Go check out the details on this link:

Eligibility Criteria | Prime Minister Loan Scheme

(1) Men and women holding Pakistani CNICs(including AJK & GB) who are between the ages of 21 and 45 and possess business potential are eligible. The minimum age requirement for IT/E-Commerce-related firms will be 18 years old.

(2) Young people who fall within the aforementioned age ranges and who own small and medium-sized enterprises (both new and established companies) are also eligible.

(3) At the very least, matriculation or an equal level of education will be necessary for IT/E-Commerce-related firms.

(4) This program is intended for both new and established micro and small businesses.
If you want to take advantage of the newly announced increase in the maximum loan size, you can always resubmit.

(5) No actual application is permitted. Every application must be submitted online at the given link (

(6) At the time the application is submitted, the candidate must be at least 21 years old. However, applicants applying for IT or computer-related firms can have the age limit relaxed to 18 years old. At the moment of submission of the application, the age limit is 45.

(7) The age of at least one business partner or director must be within the range specified by this scheme (21-45 years). Although it will be a positive factor in banks’ selection, there is no uniform requirement for a particular level of education. However, the candidate must hold the required credentials if they are required by the firm, which may include certificates, diplomas, approvals, or licenses.

(8) The Prime Minister’s Youth Scheme does not discriminate against registrants based on their gender, and all applicants receive equal consideration. To safeguard a fair gender balance, however, and in consideration of the reality on the ground, women continue to get at least 25% of all loans overall.

9) People who work for themselves are also eligible to apply.
Prime Minister’s Youth Scheme can also help existing micro and small businesses. You cannot apply under someone else’s family member’s name. Only residents of Pakistan are eligible for this program. No one can obtain more than one loan.

10) Government employees are not eligible for this loan scheme.

Prime Minister Youth Loan scheme

Loan Categories Under Prime Minister Loan Scheme

Tier 1
The range is 0.5 million PKR with 0% markup.

Tier 2
The range is above 0.5 million up to 1.5 million PKR with a 5% markup.

Tier 3
The range is above 1.5 million up to 7.5 million PKR with a 7% markup.

The processing period for the loan application is 45 days.

Repayment/Installment Schedule of PM Youth Loan

(1) Loan repayment can be done in equal monthly, quarterly, biannual, or yearly payments. Nevertheless, the unique business types and the banks’ choices would determine the precise repayment periods. Negotiating these conditions with the bank when the loan is approved is recommended.

(2) The Prime Minister Loan Scheme permits a grace period of up to one year. The precise time limit, though, would be decided by the banks and the particular business types. Negotiating these conditions with the bank when the loan is approved is recommended.

(3) During the loan term, applicants have the option to make advance payments, which will lower the principal part of their obligation.

(4) Before the loan’s maturity period, the borrower may pay off the debt in full at any moment.

Prime Minister Youth Loan scheme

List of Banks For Prime Minister Youth Business Loan Program 2023

  • 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
Prime Minister Youth Loan scheme

How To Apply For Prime Minister Youth Loan Scheme 2023

You need to fill out the Prime Minister’s Youth Business Loan Application form that link is given below;

You must have scanned copies or clear pictures of the following documents ready before you start your application:

(1) Passport Size Picture

(2) CNIC – Front Side and CNIC – Back Side
Latest Educational degree/certificate, if and whichever is applicable: Matric, Intermediate, Bachelor, Masters, Ph.D., etc.

(3) At least one business; experience certificate(s); license(s), if necessary; registration with a chamber of commerce or other trade organization; and, if necessary, a letter of recommendation from the appropriate chamber, trade organization, or union, which is required in the case of an existing business.

(4) Consumer ID on your current address and name electricity bill. (NITB to connect the image of an area on the electricity bill wherein customer ID is written)
If appropriate, the consumer ID from your present company’s electric bill.

(5) If relevant, the full registration number of any registered vehicle in your name.

(6) Two references who are not blood relations should provide their names, CNICs, and mobile numbers.

In the case of a brand-new business, you should have an estimate of the month-to-month business revenue, variable costs, household bills, and other income obtainable, while for a current company, please provide the actual monthly business income, business expenses, household bills, and other revenue, if any.

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