Prime Minister Youth Program-Business and Agriculture Loan Scheme
With the help of PMYB&ALS (Prime Minister’s Youth Business and Agriculture Loan Scheme) entrepreneurship among youth will be promoted. Business loans will be provided on simple terms and conditions with less markup through 15 Islamic, Commercial, Islamic Small & Medium Enterprises (SME) banks.
Pakistani from all provinces, aged between 21 and 45 years are eligible to apply for the PMYB&ALS loan. They must have entrepreneurship skills. For E-Commerce and Informational Technology startups/new businesses, the lower age limit is 18 years.
How PMYB&ALS Loan will be provided?
The loan provided under Prime Minister Youth Business and Agriculture Loan Scheme are categorized into 3 tiers mechanism.
Tier 1
The range is 0.5 million PKR with 0 percent markup
Tier 2
The range is above 0.5 Million upto 1.5 Million PKR with 5% markup
Tier 3
The range is above 1.5 Million upto 7.5 Million PKR with 7% markup