How to apply to PM's Kamyab Jawan programme for interest-free loans

Prime Minister Imran Khan has launched the "Kamyab Jawan" programme across the nation in order to provide self-employment opportunities to the youth.

Also read:Who will be benefited from Kamyab Jawan Program

The programme, comprising of six schemes, is targeted towards citizens between the ages of 18 and 45.

Small enterprises, both existing businesses and startups, can avail the opportunity.

Loans will be provided between Rs10,000 to Rs5,000,000 by the banks, benefiting an estimated over one million Pakistani youth.

The National Bank of Pakistan (NBP) will play a lead role in executing the programme. Loans will also be distributed through the Bank of Punjab and Bank of Khyber.

Eligibility criteria

• Citizens holding CNIC, aged between 21 and 45 years with entrepreneurial potential can apply from designated branches mapped with area of residence/business.
• For IT/E-commerce related businesses, applicants as young as 18 years of age are eligible.
• 25% of the loans will go to women borrowers.

How to apply

You can apply online through this link: https://yes.kamyabjawan.gov.pk/BankForm/ApplicantForm

• No physical application form is required. All applications are to be submitted online.
• Enter exact CNIC and its issuance date, otherwise your application will not be submitted.
• Provide required information in all sections. All sections are mandatory.
• Branch of your selected bank located nearest to your given address will be automatically selected and an SMS will be delivered to your provided cell number with confirmation of application submission and details of your selected bank and assigned branch.

Loan Period

The maximum tenor of the loan is eight years, including one year's grace period

Pricing

Loans from Rs10,000, Rs100,000 will be without interest and will be distributed on priority basis in 45 under privileged districts of Pakistan.

For loans less than or equal to Rs500,000 (Tier-1), the markup rate will 6% per annum.

The markup rate will be 8% per annum for loans greater than Rs500,000 (Tier-2).

The government will pay the difference of the cost of KIBOR + 500 bps.

Security requirements

• Tier-1 loan (less than or equal to Rs500,000): Personal guarantee of the borrower. No collateral is required.
• Tier-2 loan (greater than Rs500,000): As per the bank's own credit policy

The bank may ask for the following:

• Mortgage of applicant's property
• Mortgage of third party property
• Hire/purchase of vehicle
• Marketable securities/certificates of deposits/National Savings Certificates etc.
• Third party guarantees

Debt to Equity Ratio

• Tier-1 loan: 90:10
• Tier-2 loan: 80:20

Equity contribution of the borrower will be in cash or immovable property and will be required after loan approval.

Guidance for online application

SMEDA has established help desks to guide applicants in the process of application submission. Besides, you can contact the nearest branch of the above mentioned banks for guidance and assistance.

All aspirants are advised to fill out the form correctly and with utmost care, save the filled out form before submission, proofread the form for correctness and accuracy, and then submit the form. Keep in mind that you cannot make any corrections after an application is submitted.

No documents are required at the time of online form submission.

All applications complying with the terms and conditions of the scheme will be treated strictly on merit and as per the credit policies of the participating bank, State Bank of Pakistan regulations, and relevant laws and rules.

Note: Application will take 30 days to process after submission.