Requirements for Kamyab Jawan Program
- The age limit is 21 to 45 years for a successful youth program, the identity card requirement has been declared. However, there is a minimum limit of 18 years for IT and e-commerce-related businesses.
- Small enterprises, expansion of new or existing business (as defined by the State Bank of Pakistan)
- Pakistani citizenship will be compulsory.
- Businesses associated with IT, e-commerce must have a minimum educational qualification matriculation, 6 months experience or both.
- Loans received in a Kamyab Jawan program must be repaid in a maximum period of 8 years.
- Grace period for up to one year.
Depending on the nature of the business, the loan amount is divided into two categories.
- Loan range is from one lakh to five lakh rupees.
- The discounted interest rate is kept at 6% annually.
- Loans will only require the personal guarantee of the applicant.
- Loan limit has been fixed from Rs 5 lakh to Rs 50 lakh.
- The discounted interest rate is kept at 8% annually.
- For loans, the asset is to be mortgaged according to the bank’s own credit policy.
Special quota for women
Under this program 25% of the loans are dedicated to women, the Bank of Khyber is playing a vital role in spreading the successful Youth Entrepreneurship Scheme across the country while the Bank of Punjab, State Bank of Pakistan and The National Bank of Pakistan has also been made part of the scheme to ensure the success of the youth across the country.
Kamyab Jawan Program has shown commitment to put their skills to work, contribute to the country’s development.
Another step of the Government of Pakistan towards youth success, be it launching new business or expanding the running business, under the Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme, young people across the country have extremely low interest rates and easy terms. Loans are being facilitated, which will increase business opportunities.