Government of Pakistan has approved revisions in the key features of PMKJ-YES with a view to make it more purposeful and beneficial for small businesses and agriculture. The new components of interest free microloans and agriculture loans have been added in the scheme. Moreover, the scheme has been renamed as Prime Minister's Youth Business & Agriculture Loan Scheme (PMYB&ALS).
Product | Financing Limit |
---|---|
Tier 2 | Above Rs. 0.5 Million and upto Rs. 1.5 Million |
Tier 3 | Above Rs. 1.5 Million and upto Rs. 7.5 Million |
Tier 2 : 5%
Tier 3 : 7%
Vehicle financed under T2 and T3 to serve as collateral
All sectors and products. Moreover, in case of agriculture, all crop and non-crop sectors (including crop production, livestock, poultry, fishery, dairy etc.) are also eligible.
Nil for all Tiers
The processing time will not exceed 45 days and will be stated clearly in the application form