Prime Minister Youth Loan Scheme – How to Apply with Complete Guidance
Prime Minister Youth Loan Scheme is a government scheme of Pakistan that provides loans on convenient terms to the youth to begin a business or to augment an ongoing business. Three categories of loans are provided under this scheme, the value of which can be between one lakh to seven and a half lakh rupees, and interest on these loans is either nil or negligible. Individuals between 21 to 45 years (minimum age of 18 years for IT people) can avail this scheme. To apply, the applicants need to visit official website and submit an online form, along with submission of which it is obligatory to attach a national identity card, business plan, and other documentation.
Overview of the PM Youth Loan Scheme
Prime Minister Youth Loan Scheme is a revolutionary initiative of the Government of Pakistan, which aims to make the youth independent by providing financial assistance. Under this scheme, the youth can get a loan without any major collateral and start their own business.
Read More: Apply for the PM Laptop Scheme Phase-IV: Check If You’re Eligible
Objective of the PM Youth Loan Scheme
The main objective of the Prime Minister Youth Loan Scheme is to attract the youth of Pakistan towards employment and make them self-sufficient. The solution to the problem of unemployment is not just finding a job, but starting a business is also a strong alternative. Through this scheme, business opportunities are being provided to the youth under the patronage of the government.
Eligibility Criteria for the PM Youth Loan Scheme
To avail of this scheme, some basic conditions must be meet:
- Must be a Pakistani citizen.
- The age limit should be between 21 and 45 years (minimum age 18 years for those related to IT or e-commerce).
- Must have a valid National Identity Card (CNIC) issued by NADRA.
- Intention to start a business or expand an existing business.
- The borrower should have a clear business plan.
Loan Tiers for the PM Youth Loan Scheme
The government has divided this scheme into three different categories to cater to all types of entrepreneurs:
Tier 1
- Amount: Rs 1 lakh to Rs 5 lakh
- Markup: Interest-free
- Collateral: No major collateral required
Tier 2
- Amount: Rs 5 lakh to Rs 15 lakh
- Markup: 5 percent
- Collateral: Financial collateral may be required
Tier 3
- Amount: Rs 15 lakh to Rs 75 lakh
- Markup: 7 percent
- Collateral: Full security or asset condition
Read More: Apni Zameen Apna Ghar Scheme: Registration Process, Eligibility, and Latest Updates
Application Process for the PM Youth Loan Scheme
The application process for the Prime Minister Youth Loan Scheme is completely online, which consists of the following steps:
Visit the website
- Go to the official website:https://www.pmyp.gov.pk/
Fill out the online form
- Click on the “Apply Now” button on the website.
- Enter your CNIC number.
- Fill the application form carefully, which will include the following information:
- Personal information (name, address, mobile number, education, etc.)
- Business details and plan
- Bank details
- National Tax Number (NTN) if available.
Upload documents
These important documents must be uploaded with the application:
- Scanned copy of identity card
- Portrait-size photograph
- Business plan
- Copies of educational certificates
- Registration or tax documents, if an existing business
Submit the application
- After completing the form, press the Submit button.
- After success, you will be given a tracking number through which you can track the status of your application.
Read More: Asaan Karobar Finance Loan Scheme 2025
Application Review Process for the PM Youth Loan Scheme
After the application is submitted, it is reviewed in the following stages:
- The relevant bank and government agencies verify your information and business plan.
- If the application is complete and correct, the loan is approved.
- You are notified via SMS and email.
- After approval, the relevant bank contacts you, and the next steps (document verification, account opening, loan disbursement) are completed.
Participating Banks for the PM Youth Loan Scheme
The following banks are authorized to issue loans under this scheme:
- National Bank of Pakistan (NBP)
- Bank of Punjab (BOP)
- Bank Al Habib
- Habib Bank Limited (HBL)
- Meezan Bank
- Al Falah Bank
- Faisal Bank
- Other commercial banks may also be included.
Important Tips
- Make your business plan realistic and detailed.
- Provide all the information correctly while filling the form; misrepresentation may lead to rejection of the application.
- Apply with full preparation to increase the chances of approval.
Read More: CM Wheat Subsidy Scheme 2025 –Application Guide & Check Eligibility
Conclusion:
The Prime Minister Youth Loan Scheme is a bright opportunity for the youth of Pakistan. If you have the skills, passion and a good business idea, this scheme can be the best way to turn your dreams into reality. Prepare your application today and take a step towards a successful future.
