Prime Minister Kamyab Jawan- Youth Entrepreneurship Scheme

Prime Minister’s Kamyab Jawan entrepreneurship scheme to support the youth of the country to materialize their potential to the fullest, Applications under this scheme has reopened for provision of subsidized business loans.

All eligible persons can take part OR apply for this loan by visiting your nearest selected bank branches OR by visiting Kamayab Jawan Portal. The only designated online portal is acceptable rather than others.

Key Points for Applying for this Loan:

Following are the key points that would be necessary to fulfill before applying for this loan.

Who Can Apply?

All Men/Women having CNIC

Purpose of Loan:

• Setting Up of New Business
• To expand your existing business

Type of Business:

As per the definition of SBP Startups, Small, Medium or Existing Business setups by youth among mentioned ages.

Age:

Between 21-45 Years. CNIC is compulsory while applying for this loan. Minimum 18 years old jawan can apply but in that case, they should have a certificate of Matric.

Loan Pricing Security & Size:

Loan Duration:

Up to 8 years with a maximum grace period of 1 year

Sectors:

All Sectors are eligible including agriculture

Processing Fee:

Rs 100 only will be charged on processing

Required Documents:

Before starting your application the applicant must have scanned copies of the following documents along with Passport size Pictures

• Clear Picture
• Visible Picture of candidates CNIC from front and back
• Educational Degree, Prefer to upload your highest degree
• Proof of Skilled Labor (If Available)
• Experience Certificates
• The license in case of applying for medical store, commercial vehicle, etc.
• Latest Tax return and NTN
• Reference/ Consumer number of Electricity connection installed at a residential address
• Expected Expenses and Revenues on Business
• In the case of females, the Registration number of any vehicle registered in the parent’s name
• Two References CNIC’s Copy (could not be your blood relatives)
• A brief business write-up
• In case of partnership Entity Existence Documents

 Additional Documents for Existing Business:

• Latest Financials- Signed
• Reference Letter from /Union / Chamer/ Association
• Reference/ Consumer number of Electricity connection installed at commercial Address
• Bank Maintenance Certificate

Frequently Asked Question about this Loan:

Following questions are frequently asked about the loan that Answers I have been mentioned below:

Can Physical Applications accept in designated branches?

Ans: No only online applications are accepted at the following web address:

https://www.kamyabjawan.gov.pk/BankForm/newApplicantForm

Which Banks are involved in this Kamyab Jawan Scheme???

Ans: Following banks are participating in this scheme

• Allied Bank Limited
• Albaraka Bank Limited
• Askari Bank Limited
• Bank Al Falah
• Bank Al Habib
• BankIslami Pakistan Limited
• Bank of Khyber
• Bank of Punjab
• Dubai Islamic Bank Limited
• Faysal Bank Limited
• First Woman Bank Limited
• Habib Bank Limited
• Habib Metropolitan Bank Limited
• JS Bank Limited
• MCB Bank Limited
• Meezan Bank Limited
• MCB Islamic Bank Limited
• National Bank of Pakistan
• Sindh Bank Limited
• Soneri Bank Limited
• United Bank Limited

Q: What is the minimum education required to apply for this loan?

Ans: There is no minimum education limit is specified for applying for this loan.

Q: Can employees of any sector apply for this??

Ans: Yes! Employ from any sector apply for this loan

Q: How many loans can a person avail of?

Ans: A person cannot avail of more than one loan.

Q: Can Government Employs apply?

Ans: No they are not eligible.

Q: Is there any processing fee for the application?

Ans: You only have to pay Rs. 100/as a processing fee inclusive of NADRA online CNIC verification fee.

Q:  Is this processing fee refundable?

Ans: No, the processing fee is non-refundable.

Q: Can I withdraw my application?

Ans: Yes! At any time before the approval or rejection process, you can quit. Also In case of approval, you can withdraw by rejecting the offer but in case of rejection, the applicant can’t be able to quit/withdraw.

Q: Is there any grace period?

Ans: The scheme allows a maximum of the 1-year grace period. However, the exact grace period would depend upon the specific business types and banks’ decisions. The applicant is encouraged to negotiate these terms at the time of finalization of the loan with the bank.