The Government of Pakistan has started a new scheme called PM Youth Business and Agriculture Loan Scheme. This is for young people and farmers. It helps them start or grow their business. The loans are easy to get. The conditions are simple. The interest rate is low. Some loans are even interest free.
This scheme is for all Pakistani citizens. You must have a valid CNIC. You must be between 21 and 45 years old. If you work in IT or e-commerce then the age limit is 18 years. The scheme is open for individuals groups or companies.
There are three loan tiers. Each has different loan amounts interest rates and payback times.
💡 Loan Categories (Tiers)
| Tier | Loan Amount | Interest Rate | Repayment Time |
|---|---|---|---|
| Tier 1 | Up to PKR 500000 | 0 percent | Up to 3 years |
| Tier 2 | PKR 500001 to 1.5 million | 5 percent | Up to 8 years |
| Tier 3 | PKR 1.5 to 7.5 million | 7 percent | Up to 8 years |
Tier 1 is good for small businesses. It is interest free. It needs no security. It is easy for young people. Tier 2 is for medium businesses. It needs a personal guarantee. Tier 3 is for big businesses. It needs bank approved collateral. These loans have grace period of 1 year. You start paying after 1 year.
🌾 Loan Usage
You can use the loan to start a new business. You can also grow your current business. It can be used to buy machines. It can be used to buy business stock. You can also buy commercial vehicles. You can use it for agriculture farming and production. Farmers can buy seeds tools tractors and fertilizers.
💰 Borrower’s Share (Equity)
If you are starting a new business in Tier 2 you must give 10 percent of the cost. In Tier 3 you must give 20 percent of the cost. If you already have a business you do not need to give anything.
🔐 Collateral Requirements
Tier 1 has no security requirement. Tier 2 needs only a personal guarantee. Tier 3 needs collateral. This depends on bank policy.
👤 Who Can Apply
- Must be Pakistani citizen
- Must have valid CNIC
- Age 21 to 45 years
- Age 18 years for IT and online businesses
- Education required for IT is minimum matric
- Can be an individual group or company
🏦 Partner Banks
These banks are helping with loans
- National Bank of Pakistan
- Bank of Punjab
- Habib Bank Limited
- Meezan Bank
- Bank Alfalah
- Allied Bank
- ZTBL
- Sindh Bank
- Bank Al Habib
👩💼 Loans for Women
There is 25 percent quota for women entrepreneurs. This helps women start or grow their businesses easily. Women can get loans under the same terms. This supports female empowerment.
📝 How to Apply
- Go to the website pmybals.pmyp.gov.pk
- Fill out the online form
- Attach CNIC and business plan
- Pay PKR 100 for CNIC verification
- Submit the application online
📞 Contact Details
- Helpline is 0800 77000
- Email is info@pmyp.gov.pk
You can ask questions through phone or email. You will get updates through SMS or email also.
🌟 Why This Loan Scheme Is Important
This scheme is very helpful. It gives financial support. It helps youth start something of their own. It also helps reduce unemployment. It supports agriculture which is important for Pakistan. Small and medium businesses will grow. Farmers will have more tools. New businesses will start.
It will create jobs for others too. It will improve the economy. The government supports the youth. It gives equal chances to men and women. This scheme is a big step towards a better future.
If you have a good business idea then you should apply. You will get support from banks and the government. You will get low interest and easy repayment options.
This scheme gives hope to many people. It supports financial freedom. Apply today and start your journey towards success.