How to Apply for Kamyab Jawan Program Loan
Prime Minister Imran Khan launched the Kamyab Jawan program loan to provide support to this country’s youth. Kamyab Jawan program loan will help the unemployed youth across the country and provided them with financial and technical assistance.
This initiative by the prime minister will help thousands of unemployed youth of Pakistan. Our country’s main problem is unemployment, and this initiative is the solid step to counter this problem.
The loans are provided to the youth to start their businesses and become financially independent. The loans provided in this scheme are from 10k to 5 million depending upon the applicant’s need. Kamyab Jawan program loan is the only scheme that breaks the previous record, and almost 200k youth apply for the loan in the first three days.
Steps to Apply for Kamyab Jawan Program Loan
These simple steps will help you to apply for a Kamyab Jawan program loan.
- Open Kamyab Jawan program loan portal to apply for the loan.
- Then select the first option of the youth entrepreneurship scheme.
- After opening, it will take you to the next step.
- Then choose the option to apply online for the loan.
- A form will appear; you have to provide your personal information correctly.
- Write your CNIC number carefully because it can’t be changed afterward.
- All fields are mandatory, so provide all the relevant information and move onto the next step.
- The next page will contain affidavits; read carefully and accept their terms and condition.
- Submit your Kamyab Jawan program loan form.
- All the submitted forms will be processed in the next 30 working days.
- Provide the correct email and phone number to get the information about the status of your application.
- Submitting the form will not give the approval of the bank for the loan.
- You have to fulfill the eligibility criteria, i.e., concerned bank assessment standards.
Before entering your CNIC, make sure to check the status of your national identity card online. Any wrong information about you will immediately result in the cancelation of your application.
The application form will be available in both Urdu and English on the website. There is a non-refundable processing fee of Rs 100, inclusive of the NADRA online verification fee. It is mentioned that the processing time of the form is not more than 30 days of applying.
Eligibility Criteria for Kamyab Jawan program loan
All men and women with age between 21 to 45 years and having CNIC are eligible for applying for the Kamyab Jawan program loan. The lower age limit will be 18 years for the IT and E-commerce business. All the small enterprises owned by youth and according to the definition of the state bank of Pakistan can apply for the loan.
Small enterprises are also comprised of new start-ups and pre-existing ones. For IT and e-commerce, at least matriculation and relevant education will require for applying. From the total loan, almost 25% loan will go to the women of Pakistan.
The loan is available in the three tiers.
- In first-tier loans are from Rs 100k to Rs 1 million.
- In second-tier loans are above Rs 1 million to Rs 10 million.
- In third-tier loans are above Rs 10 million to Rs 25 million.
The loan is long-term for the machinery, equipment, working capital, finance, and leasing of business on wheels. The loan tenor is up to 8 years. The grace period for the Kamyab Jawan program loan is up to 1 year, depending upon both business, loan nature, and size.
Security requirement for each tier is as follow:
- For tier one, only a personal guarantee of the borrower is required.
- For tier second and third, it depends upon per bank’s credits.
Read Also: How to Get Interest Free loan In Pakistan
The Kamyab Jawan program loan was an initiative started by the prime minister to help our country’s unemployed youth. This initiative provides loans to youth for their start-ups and pre-existing businesses. You can also apply for the loan by visiting the Kamyab Jawan program website. There are simple steps you can follow and fill the form easily. If you have any further queries, you can also visit any bank near your home and get all the necessary information.
The editorial team at CMS Beginners is a group of industry-leading freelancers and online entrepreneurs. Their main aim is to educate people about online earning and empower youth.