Prime Minister Youth Loan Scheme 2023 | Apply & Track

Get rid of 9 to 5 low-income jobs and fight your financial problems with the Prime Minister Youth Loan Scheme 2023 which aims to provide loans to youngsters who want to build startups. The loan scheme consists of three tiers primarily, and there are different business ideas/fields in which you can invest the loan amount.

prime minister youth loan scheme 2023

As an applicant, I’m here to provide you with in-depth knowledge and guidelines on how to apply for this scheme, eligibility criteria, documents that you need, and much more. Let’s begin!

Application Process PM Youth Loan Scheme 2023

The Prime Minister Youth Business and Agriculture Loan Scheme 2023 is introduced by the Government of Pakistan to help the young generation is pursuing their entrepreneurial dreams and combating their financial problems. This scheme ultimately will reduce the percentage of poverty, hunger, unemployment, illiteracy, and more.

If you have heard about this scheme and want to apply for it to build a bright future, my assistance and guidance are here for you. In this blog post, I’ll cover all the required information that every applicant of this program must know to submit the application without any errors and get a chance to avail of this service by GoP.


The Prime Minister Youth Business and Agriculture Loan Scheme 2023 aims to assist the deserving nationals of Pakistan financially by giving them loan amounts that they can utilize to build a startup or business. There are different fields of businesses involved in the loan scheme, tiers, amount limits, and more, which will be further discussed in this blog post.

PMYB&ALS Loan Tiers

The three tiers of the PM loan scheme are tier 01, tier 02, and tier 03 respectively. Tier 01 includes the loan payment of 0.5 million Pakistani rupees with no markup (0% markup). Tier 02 comprises 0.5 million to 1.5 million Pakistani rupees in loan payments with a 5% markup. Lastly, Tier 03 consists of 0.5 million to up to 7.5 million Pakistani rupees loan payments with a 7% markup.

Every applicant needs to choose a tier and apply for the loan accordingly. Choosing the right tier is not a difficult job to do, yet an important phase because you’ll receive the loan payment accordingly. For example, if you go for tier 01, the loan payment limit will be 0.5 million Pakistani rupees, and beyond that you will not get any money, and it has 0% markup.

PMYB&ALS Loan Types

The type of loan means its function or application, for example, you cannot take this loan amount for buying jewelry, right? In this sequence, the PMYB&ALS loan is a term loan, also called a capital loan, and it includes leasing and financing of vehicles, and machinery/Murabaha for commercial purposes.

To purchase the car from this loan amount, you need to choose a locally manufactured vehicle. A single vehicle is allowed for each loan borrower. You need to pick the vehicle according to the tier you have shortlisted.

In addition to that, the loan amount can also be utilized for buying the distribution business, civil works, food production, agriculture, and development purposes. The primary vision of this scheme is to help the youth of Pakistan financially and promote entrepreneurship and self-financing among Pakistani youngsters.

PMYB&ALS Loan Tenor

Tenor refers to the time that is remaining before the contract expires and the term is mostly used in the context of financial contracts. The tenor of this loan scheme by PM varies with the Tier that you selected. Tier 02 and Tier 03 have loan tenors for up to eight years for development projects and other long-term projects.

However, applicants of Tier 02 and Tier 03 who received loans for Murabaha and capital or production purposes will follow the loan tenor of up to five years. This also depends on the banks which are linked and the markup percentage. I suggest you visit the bank once for more details on the tenor and tiers of this loan scheme. In general, the payment period ranges between three to five years.

Eligibility Criteria for This Loan Scheme

Whenever you apply for a scheme, scholarship, or any offer by a government or non-government authorization, don’t forget to read the eligibility criteria beforehand. This is because the eligibility criteria will let you know whether you are eligible for the criteria for a particular scheme or not. In case you’re not eligible for the loan scheme, you should withdraw in the first place because you’ll not get approved otherwise.

As far as the Prime Minister youth loan scheme 2023 is concerned, the applicant must be a Pakistani national and hold a valid computerized national identity card (CNIC). The age limit to apply for this loan scheme ranges between 21 years to 45 years. This age limit is set to target the youth and citizens who are potentially active to avail of the loan and run the entrepreneurship in the long run.

In addition to that, if you’re applying for a loan to build a startup related to IT or E-commerce oriented business, the age limit will expand to 18 years at least. But in this case, education limitation is there as an applicant must hold at least a matriculation degree or equivalent to apply for a loan.

In case you’re applying for a loan scheme to start a business related to agriculture, farming, or food production, the eligibility terms mentioned in the Indicative Credit Limits For Agriculture Financing 2020 by SBP will be considered. After going through the eligibility criteria, I hope you have now an idea if you are eligible or not. If you’re eligible and want to know the application procedure for this scheme, keep reading!

Applying For PMYB&ALS Loan Online

We are all living in a virtual era now and everything has shifted from physical mode to online mode, which has both good and bad sides. Considering the good one, the online application procedure is easier, accessible for all citizens, and requires no traveling hassle and more, unlike the traditional procedures in which applicants were needed to stand in queue for hours.

To apply for this loan scheme online, you need to open the application form first from the official website of the Prime Minister Youth Program ( In the application form, you need to enter your details including your name, date of birth, area, education, address, and more. You can see all the fields by clicking on the link I shared above.

Please keep in mind that all fields in the application form that are denoted by “*” need to be filled, while other fields are optional. It would be easier for you to fill the form if you go through it once and gather all the official documents with you that you will be needing to fill this form. You need to read the form and fill it out carefully; it should be free of errors, in short.

This is because if you write any wrong information, for example, you’ve entered the wrong CNIC number, maybe mistakenly, your application will not be considered. On the other hand, if you try to put the wrong information intentionally just to think that you’ll meet the eligibility criteria; for instance, write a false education, your application will get rejected ultimately.

Therefore, it is suggested to be honest and attentive while filling up and submitting the application form. This is because the loan payment is not transacted to people blindly; there is an entire system that tackles the scheme and provides an advantage to deserving nationals of Pakistan only. So, it would be great if you save your time, effort, and money and avoid sending false or fake information.

Applying For PMYB&ALS Loan By Visiting Branch

When I applied for this loan scheme, I visited the bank branch in the first place for the application procedure but later on, I found that you cannot apply for the PM loan by visiting any branch. The only application method that exists is “Virtual Application”. However, you can visit the nearest bank that is collaborating with this Government scheme to get information about the loan, its types, tiers, and more.

Instructions To Fill out The Loan Application Form

To fill out the application form for the PM youth loan scheme 2023, you need to have all the required documents.

  • The documents not include the ones that you need to attach with the form, but also the ones that you may require to enter the information in the application. Don’t worry! I’ll also enlist the documents that you need to apply for this scheme in the next section.
  • Please note that you need to have National Tax Number too. (In case, you don’t have a tax number, please open this link: and register yourself. Alongside that, you need to enter the information of two references. The references should not be your blood relatives.
  • Another thing that I want to add here is that every applicant should have an active mobile phone number to apply for this loan. That’s very important because in the future the PM youth loan scheme authorization will notify you about acceptance/rejection, delay, inquiry, or anything through the mobile number you enter to sign up for this loan.
  • Also, make sure to enter the phone number which is registered on your name/ CNIC to avoid any issues in the future. As I said before, these small things are quite important for the processing of your application for this youth loan program.
  • Overall the application form will not take more than fifteen minutes to complete submission, but in case you have something or can’t fulfill the form at once, you can save the information that you entered in the draft form and continue from there later. Please note that all the information is secured in your account, so make sure to keep the login details confidential.
  • Once you complete and submit the form, you’ll instantly receive the message from authorization, except for the cases when you have networking issues. However, if you haven’t received the text from them, you can check the status of your application online. I’ll cover that too in this same blog post, so keep reading!

Documents You Need To Apply For Loan

Now that you know how to apply for the PM loan scheme, it’s time to go through the list of documents that you will need to fill out and submit the form.

  • The documents include a passport-size photograph, CNIC scanned copy of both sides, an educational certificate or degree that you’ve passed recently, and experience in the field if any.
  • You’re applying for a loan to start a business; therefore, the other documents like a license, recommendation letter if you’re already handling a business, finance-related statements, bank statements, and the business plan idea.
  • Not only that, but you also need the additional documents as formal procedure; these include national tax number, electricity bill, CNIC copy of references, monthly income and household expenses, and other relatable documents.

These additional documents are not required in other loan schemes, but because this particular program aims to help you in starting a business, it needs financial statements and references as well.

Check the Status Of Your Loan Application

To check the status of your loan application, you need to open the official website of the PMYP and navigate to “Track your Application”. Here is the link for your assistance: (

After opening this link, enter the information required in respective fields: CNIC, CNIC issue date, mobile number, and date of birth. Then click on submit to see the status of your PMYP application.

Calculate PMYB&ALS Loan

Most people are concerned about the loan scheme, especially the calculation of the amount. Therefore, the authorization also added an automatic online calculator on their website that will help you calculate the loan amount easily.

I’m dropping the link for the calculator here: (

Once you open the calculator, you need to enter the loan amount and loan period and the calculator will calculate everything for you. I found this very feasible for everyone as it is a user-friendly, effortless, and quick way to estimate everything.


Who is eligible for PMYP?

To apply for the Prime Minister youth loan scheme 2023, the applicant must be a Pakistani national holding CNIC, 21 years to 45 years, and have at least a matriculation degree or equivalent. To know a more detailed version of eligibility and other requirements, swipe up!

What is the limit of youth loans?

In consideration of the limit of youth loans, it is divided into three tiers by authorization. The three tiers of the PM loan scheme are Tier 01: 0.5 million PKR loan with no markup, Tier 02: 0.5 million to 1.5 million PKR loan payment with 5% markup, and Tier 03: 0.5 million to up to 7.5 million PKR loan payment with 7% markup.

Will loan limits increase in 2023?

According to the statistics, the loan limit will increase by 12.2% in 2023, but it is not yet confirmed or notified by the authorization. Stay connected to the official website to get updated about it.

The Bottom Line

In conclusion, I must say that the Prime Minister loan scheme for startups is a great initiative by the Government of Pakistan that will not only help the youth financially but also give birth to a spark in their mind for innovative business ideas and earning money through struggle and hard work.

To increase your chance of selection for this loan program and help you in filling in the form rightly, I have added all the necessary information, statistics, and links in this article. I hope that this platform will help you in the application process and you’ll get selected for this scheme. That’s all for today’s information blog, see you in the next article!


  1. i have apply prime minister youth loan scheme 5 lakh they call me butt i do not pick please call me 03434394835

  2. i have apply prime minister youth loan scheme 5 lakh. No anyone contact with me this is my mobile number. 03475890482

  3. Many Pmyp loan ma apply kia tha bank off Punjab sa Jo ma reject karwana Chahta hu bank off Punjab sa so Mari file reject kar dain

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