You must be wondering how to apply for the recently launched government’s Youth Business and Agricultural Loan Schemes. If that is the case, then you are at the right place as we guide you step-by-step that how it is done.

On Wednesday, Prime Minister Shehbaz Sharif asked women, transgenders, and differently-abled people to apply for the schemes and contribute to the national development.

Without any further delay let’s dive into it.

Eligibility

It is one of the key factors of the scheme that who can apply. The government has set the age limit of 21-45 years, so the maximum number of youth can avail the loan.

Moreover, for IT and e-commerce businesses, the lower age limit is 18 years.

Registration process:

https://pmyp.gov.pk/bankform/newapplicantform

When you click that the form will appear, which has nine steps.

Islamic banking facilities

This loan can also be granted through the Islamic banking system.

Women’s quota

About 25 percent of it have been reserved for women.

Interest rate:

There will be no interest rate on the loan of up to Rs0.5 million.

5% interest will be charged on the loan of over Rs0.5 million to 1.5 million

7% interest rate will be charged on the loan of over Rs1.5 million to Rs7.5 million.