Kamyab Nojawan
Under the Successful Youth Program Kamyab Nojawan, scrutiny of applications for loans on easy terms has begun
Islamabad. ISLAMABAD, Nov 14 (APP): The process of scrutiny of applications for loans on easy terms has been started under the Successful Youth Program. According to sources in the Prime Minister's Successful Youth Program, the youth had submitted their applications for loans on easy terms through the online procedure.
Under this program, applicants from the National Bank of Pakistan, Bank of Khyber, and Bank of Punjab We will provide loans on easy terms. According to sources, a loan of Rs 10,000 to Rs 100,000 will be interest-free, while a loan of Rs 100,000 to Rs 500,000 will have an interest rate of 6%, and a loan of Rs 600,000 to Rs 500,000 will have an interest rate of 8%. No installment will be charged in the first year.
Kamyab Nojawan
According to sources, the concerned banks have started the process of checking the data of the applicants by telephone while in the next phase, the representatives of the said banks will visit the houses of the applicants and verify the data.
According to sources, loan disbursement will start after verification of all data and completion of the scorecard. Usman Dar, Special Assistant to the Prime Minister for Youth Affairs, has said that the External Agency will verify the applicants for loans under the Successful Youth Program Kamyab Nojawan. A youth application scorecard will be created. He said that the banks have been given a deadline of 45 to 50 days to complete the process of disbursement of loans and it is hoped that the process of repayment of loans will start in December.
Requirement
- Long term loan (living term)
- Short Term Loan (Short Term)
- Leasing/loan of locally manufactured vehicles for commercial use. A borrower is only allowed one car
- Long term loan
- Duration: up to 8 years
- Concession period: up to 1 year
- Short term loan
- Duration: 1 year
- Episodes
- Equal monthly installments
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