The Prime Minister Youth Loan Scheme is now open for registration, thanks to Prime Minister Mian Muhammad Shahbaz Sharif’s instructions. This scheme offers loans from 5 lakhs to 75 lakhs at a low markup to eligible Pakistani citizens.
Prime Minister Youth Loan Scheme
Eligibility Criteria:
To qualify, you must be a Pakistani citizen, aged 21-45, with a computerized National Identity Card. For IT and e-commerce loans, you need to be at least 18 years old and have a Matric education.
Loan Tiers:
The scheme has three tiers:
- Tier 1: Interest-free loans from Rs 1 lakh to Rs 5 lakh
- Tier 2: Loans from Rs 5 lakh to Rs 15 lakh with 5% interest
- Tier 3: Loans from Rs 15 lakh to Rs 75 lakh with 7% interest
PM Youth Loan Amount And Interest Rate
| Tiers | Amount Of Loan | Interest Rate Of Loan |
| 1 | 500,000 | 0% |
| 2 | 500,001-1,500,000 | 5% |
| 3 | 1,500,000-7,500,000 | 7% |
Application Process:
To apply online, visit the Prime Minister Youth Program website link in bellow. You’ll need:
- National identification card
- Bank account details
- Matriculation certificate (for IT business loans)
Ineligible Applicants:
The following individuals cannot apply:
- Overseas Pakistanis
- Government employees
- Those without a Pakistani identity card
Before registering, ensure you meet the eligibility criteria and have the required documents. For more information and to apply, check out the Prime Minister Youth Program website .
List of MFIs/MFBs
| S.No | Bank | MFIs/MFBs |
|---|---|---|
| 1 | Bank of Punjab | Akhuwat Islamic Microfinance National Rural Support Program (NRSP) |
| 2 | National Bank of Pakistan | NRSP Microfinance Bank Rural Community Development Program (RCDP) |
| 3 | Askari Bank | Akhuwat Islamic Microfinance |
| 4 | Habib Bank Limited | SAFCO Microfinance Company |
| 5 | Bank of Khyber | National Rural Support Program (NRSP) |
FAQs
1.Who is eligible for the Prime Minister Youth Loan Scheme?
Pakistani citizens aged 21-45 with a computerized National Identity Card are eligible. For IT and e-commerce loans, the minimum age requirement is 18 years, and you must have a Matric education.
2. How do I apply for the loan?
You can apply online through the Prime Minister Youth Program website. Make sure you have your national identification card, bank account details, and matriculation certificate (for IT business loans) ready.
3. Can government employees apply for the loan?
No, government employees are not eligible to apply for the loan.
4. Can I submit my application physically?
No, all applications must be submitted online through the Prime Minister Youth Program website.