Prime Minister Imran Khan has launched the Kamyab Jawan Programme across the nation in order to provide self-employment opportunities to the youth.
Under the scheme, people aged between 21 to 45 years can avail the loan. The programme, comprising of six schemes, is targeted in the direction of citizens between the a while of 18 and 45.
Small enterprises, both present organizations and startups, can avail the opportunity. Loans will be provided between among Rs10,000 to Rs5,000,000 via the banks reaping benefits an anticipated over a million Pakistani teens. The National Bank of Pakistan (NBP) will play a lead position in executing the programme. Loans will also be allotted through the Bank of Punjab and Bank of Khyber.
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
Mortgage of applicant’s property
Hire/purchase of a vehicle
The bank may ask for the following:
Hire/purchase of a 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
