Prime Minister’s Youth Business & Agriculture Loan Scheme Tier-4- (Laptop Scheme)
In order to provide self-employment opportunities to unemployed youth and better equip the students at HEC level, Government of Pakistan has included an additional Tier-4 by enhancing the scope and benefits of the scheme.
Purpose of Finance
To Provide Brand New Laptops to:
- Students of HEC Recognized Educational Institutions
- Free Lancers and Young Entrepreneurs
Finance Size
Finance Size of loan is segregated into three loan categories:
- Category (1): Basic Laptops : Upto Rs.150,000 or actual cost, whichever is lower.
- Category (2): Medium Laptops : Upto Rs.300,000 or actual cost , whichever is lower.
- Category (3): Advance Laptops: Upto Rs.450,000 or actual cost whichever is lower.
Financing Type:
- Term loans
Financing Tenor
- Up to Four years
Debt: Equity Ratio
- 80 : 20
Pricing /Service Charges
- Customer Rate: 0%
- Bank Rate : Six Months KIBOR +3
Mode of Repayment
- Monthly /Quarterly installments
Fees & Charges
- Non-Refundable Form Processing Fees Rs.100
- Other Charges. At Actual.
Security
For Freelancers and for students where MOU arrangements with University/College are not available
- Hypothecation of Laptop
- Personal guarantee /Income clubbing f family member with sufficient monthly net income
- Reference letter from HEC recognized educational institute in case of student
- Undertaking by university /college that degrees shall be kept as collateral against loan facility till final settlement of loan
- Personal Guarantee/ Income Clubbing of a family member with sufficient monthly net income to repay the loans.
Online Application Form on PM YOUTH Portal
- For effective monitoring, online application form is prescribed through PM Youth Program (PMYP)Portal.
Geographical Distribution:
- Whole of Pakistan
Basic Documentation
- Online Loan Application
- Feasibility/Business Plan for freelancers / young entrepreneurs with Bank statement/ cash flow projections
- Undertaking from University/College to hold the student’s degree as collateral till full settlement of liabilities.
- Any other document may be required by Bank for loan assessment and verifications
- Copy of CNIC
- Referral Letter from HEC recognized institute for financing to Students
- Guarantor Documents as per Bank’s procedures and policies
- All Citizens of Pakistan holding CNIC aged between 18 and 30 years.
- Studying in Educational Institutes recognized by HEC (Higher Education Commission)
- Have a clean credit history. eCIB must be clean with no record of default or write-off.
- In case of Freelancers /young Entrepreneurs, the applicant is required to submit a business plan to use the laptop for productive purpose as well as to assess the repayment capacity as well as to assess the repayment capacity of the Freelancer/young professional.
- The entrepreneurs/freelancers must have regular Estimable positive cash flows to ensure ability of debt servicing.
- Conformance to SBP PRs of Consumer /SME a per relevant sections
Your monthly
installments will be just
installments will be just
PKR
1
Pricing (%)
