Are you a young person in Pakistan? Do you have a good idea for a business but need money to start? The Prime Minister’s Youth Business and Agriculture Loan Scheme (PMYB&ALS) can help you! This program gives loans to young people who want to start or grow their business. In this article, I will show you how to apply for this loan and start your business.

What is Prime Minister Youth Loan Scheme (PMYB&ALS)?

PMYB&ALS stands for Prime Minister’s Youth Business and Agriculture Loan Scheme. It is a special program by the government of Pakistan to help young people start their own businesses. The scheme offers loans with very low-interest rates and simple terms. This means you can borrow money easily and pay it back without too much hassle.

Prime Minister Youth Loan Scheme Tiers

PMYB&ALS loans are divided into three tiers:

Tier	Loan Amount	Interest Rate
Tier 1	Up to 0.5 million PKR	0%
Tier 2	From 0.5 million to 1.5 million PKR	5%
Tier 3	From 1.5 million to 7.5 million PKR	7%

Eligibility Criteria

Before applying, you need to know if you are eligible. Here are the basic requirements:

1. Age:
   • You must be between 21 and 45 years old.
   • For IT or e-commerce businesses, you can apply if you are 18 years or older.
2. Type of Business:
   • You can apply if you want to start a Small or Medium Enterprise (SME).
   • This includes both new businesses (startups) and businesses that are already running.
   • If you are a farmer, you can also apply according to the guidelines provided by the State Bank of Pakistan.

Required Documents

To apply, you will need the following documents:

1. Loan Application Form (available in English and Urdu).
2. Passport-size Photos (two recent ones).
3. Valid CNIC/SNIC with NADRA verification or biometric verification.
4. Feasibility Report of your business idea.
5. Financial Statements of your business, if it’s already running.
6. Clean E-CIB Report (no overdue loans or write-offs).
7. Undertakings that you will not take loans from other banks under this scheme.
8. Collateral Documents if required by the bank.
9. References: Two people with their CNICs.
10. Additional Documents: These might include educational certificates, a valid driving license, tax returns, a business license, and utility bills.

How to Apply for Prime Minister Youth Loan Scheme Online

Follow these steps to apply for the loan:

1. Visit the Official Website: Go to the PMYB&ALS website.
2. Fill Out the Application Form: Complete the form with your personal and business details.
3. Submit Required Documents: Make sure all your documents are ready and upload them.
4. Track Your Application: After submitting, you can track your application online.
5. Calculate Your Loan Repayment: Use the loan calculator on the website to plan how you will repay the loan.

List of Banks and Associated Microfinance Partners for PMYB&ALS Loans

S.No	Bank	Microfinance Institutions (MFIs)
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)

Why Should You Apply?

This loan program is a great chance for young people in Pakistan. It helps you get the money you need to start or grow your business. The loan comes with low-interest rates and simple terms. It is a good way to make your business dreams real.

Conclusion

Applying for the Prime Minister’s Youth Business and Agriculture Loan Scheme is a simple process.

By following the steps mentioned in this article, you can secure the funds needed to launch or expand your business. Whether you are just starting or already have a running business, this loan can be a big help.

So, gather your documents, fill out the application, and take the first step towards success!