Maryam Nawaz Youth Loan 2024

Great news for those who applied for the Maryam Nawaz Loan Scheme under the Chhat Apna Ghar initiative! Some applications have been approved, and the list of selected candidates has been published. You can now check if your name is on the list. If you’ve been selected and are wondering when the Rs 15 lakh loan will be disbursed, here’s the update: The Punjab government will begin releasing the funds starting on 27 September 15.

As mentioned earlier, while there isn’t a specific loan scheme directly under the name of Maryam Nawaz, you can still apply for government-backed loan schemes initiated during the Pakistan Muslim League-Nawaz, which she actively promoted, such as the Maryam’s Youth Business Loan. This program was aimed at young entrepreneurs and small businesses.

The Chief Minister of Punjab will offer a loan of Rs 15 lakh under the Nawaz Scheme, which can be repaid through monthly installments of Rs 14,000 over 7 years.

Loan Helpline Number 03424276757

Steps to Apply for the Maryam Nawaz Youth Business Loan

Here’s a general guide on how to apply for these types of loan schemes:

Check Eligibility Criteria:

  • Age: Typically, the age bracket is 21-45 years old.
  • Nationality: You must be a Pakistani citizen with a valid CNIC (Computerized National Identity Card).
  • Business Plan: You need to present a viable business idea, whether it’s a new venture or an expansion of an existing business.

Prepare Required Documents:

  • CNIC copy
  • Two recent passport-sized photographs
  • Educational qualification certificates (if applicable)
  • A business plan: This is crucial, as your loan application will largely depend on how solid and feasible your business plan is.
  • Income tax return (if applicable)

Call helpline number:

  • The PMYBL is offered through several online options
  • You can either apply by visiting the nearest branch of these banks or fill out an online application form on their respective websites.

For example, on the website, you will find forms and instructions for applying for a loan.

Overview of CM Maryam Nawaz’s Rs 15 Lakh Loan Scheme

Maryam Nawaz has introduced a scheme offering interest-free loans of Rs 15 lakh to approximately 70,000 families across Punjab, aimed at helping them construct their own homes. To apply, visit the Apni Chhat Apna Ghar Scheme portal at maryamloanscheme2024.online, which is provided by the Punjab government.

During the registration process, you’ll need to upload your personal details and required documents, which will be used by the Punjab government to verify your application. Once successfully registered in the scheme, you will receive an interest-free loan of Rs 15 lakh to assist in building your home.

Loan Amounts in PMYBL:

  • Minimum Loan Amount: PKR 100,000 (1 lakh)
  • Maximum Loan Amount: PKR 2,000,000 (2 million)

The amount of loan you receive depends on the following factors:

  • Business plan: A well-structured and feasible business plan will increase your chances of receiving the desired loan amount.
  • Collateral: Loans above a certain amount may require some form of collateral.
  • Business type: The amount can vary depending on the type of business you’re planning to start or expand.
  • Personal credit history: Banks may review your creditworthiness.

Loan Categories:

The PMYBL is divided into two main tiers:

  1. Tier 1 (T1): Loans from PKR 100,000 to PKR 500,000. These loans are typically unsecured, meaning you might not need collateral for this amount.
  2. Tier 2 (T2): Loans from PKR 500,000 to PKR 2,000,000. Loans in this range usually require some form of security or collateral.

Interest Rates and Repayment:

  • The interest rate on these loans is typically low and subsidized to promote entrepreneurship.
  • The repayment period is usually up to 8 years with a grace period of 1 year.

Priority Sectors:

The loans are intended to support a wide variety of sectors, including:

  • Agriculture
  • Manufacturing
  • IT and Tech-based businesses
  • Retail
  • Services sector (transportation, hospitality, etc.)

If you have a solid business idea and meet the eligibility criteria, you can apply for the amount that best suits your business plan.

Would you like help preparing your business plan or more details on how to apply?

Important Tips:

  • Make sure your business plan is comprehensive and realistic.
  • Keep your financial records and personal information up to date.
  • Stay aware of new government announcements as loan schemes may get updates or new programs could be introduced.

For more recent updates or assistance on applying for such loans, you can visit the official websites of participating banks or government portals related to youth and SME development in Pakistan.

Frequently Asked Questions (FAQs) About CM Maryam Nawaz’s Rs 15 Lakh Loan Scheme

1. How do I apply for the Apni Chhat Apna Ghar Scheme under CM Maryam Nawaz?

You can easily apply for the Apni Chhat Apna Ghar Scheme through the official online portal provided by the Punjab Government: https://maryamloanscheme2024.online.

2. How much land is required to qualify for the Rs 15 lakh loan?

To qualify for the Rs 15 lakh loan, you must own 5 marla urban land or 10 marla rural land.

3. Who is eligible for CM Maryam Nawaz’s Rs 15 lakh loan?

This loan is available exclusively to permanent residents of Punjab who do not currently own a home.

4. What is the repayment period for the Rs 15 lakh loan?

The loan can be repaid over a period of 7 years, with monthly installments of Rs 14,000 to the Punjab government.