Ehsaas Interest Free Loan Program [2024] | Online Apply

The Government of Pakistan has introduced the Ehsaas Interest-Free Loan Program 2024 to help people living in poverty. This program aims to include financially marginalized groups in society, such as young people with skills, women, people with disabilities, transgender individuals, and those already benefiting from programs like BISP, Zakat, and Baitul Mal.

Led by Prime Minister Pakistan and supervised by Special Assistant to the Prime Minister Dr. Sania Nishtar, this program provides financial support to deserving individuals who are struggling financially. Its goal is to help them start small businesses and improve their circumstances.

As part of the Ehsaas Interest-Free Loan Program 2024 strategy, the government has launched a poverty graduation initiative. The objective is to lift the poorest households out of poverty, enabling them to achieve economic and social prosperity. The Pakistan Poverty Alleviation Fund (PPAF) is responsible for implementing the National Poverty Graduation Initiative (NPGI), which aims to distribute around 80,000 interest-free loans every month across the country over the next four years.

The loans offered under this program range from Rs. 20,000 to Rs. 75,000, and they are interest-free. A total of 3.8 million interest-free loans will be given to 2.28 million households, benefiting a total of 14.7 million people. These loans can be obtained through 1,110 existing loan centers run by partner organizations.

Ehsaas Loan Program Scheme Main Features:

The Ehsaas Loan Program has some important features:

• Interest-free loans: The program provides loans without any interest to people whose poverty level is above 40.
• Funding from the government: The scheme receives support from both the federal and state governments, making it available to a larger number of people.
• Loan amounts: People can borrow amounts ranging from 20,000 to 75,000 Pakistani Rupees, depending on their financial needs.
• Focus on women: The program gives 50% of the loans to women, aiming to empower them and encourage their participation in businesses and the economy.
• Priority for marginalized groups: Special attention is given to individuals from low-income backgrounds, including young skilled people, women, people with disabilities, transgender individuals, and those who are already benefiting from programs like the Benazir Income Support Program, Zakat, and Bait ul Maal.
• Multiple credit centers: The program operates through 1,100 credit centers spread across Pakistan. These centers make it easier for people to access loans, and they disburse a total of 80,000 loans every month, ensuring that many individuals can benefit from the program.

Also check: Student Loan in Pakistan [National Bank] NBP Scheme 2024 Apply

To qualify for interest-free loans, applicants need to meet the following criteria:

Loan Amounts:

• The minimum loan amount available is between 20,000 to 75,000 rupees.
• The maximum loan amount ranges from Rs 75,000 to Rs 200,000.
• The average loan amount falls within the range of Rs 30,000 to Rs 400,000.

Citizenship:

• Applicants must be Pakistani citizens and possess a valid Computerized National Identity Card (CNIC).

Age Range:

• Individuals between the ages of 18 and 60 are eligible to apply for these loans.

Also check: Interest Free Loan in Pakistan Online Apply 2024 – New Update

Ehsaas Loan Application Process – Online Apply

To apply for an Ehsaas Loan, you need to follow these simple steps:

• Visit a loan center: Go to a designated loan center and express your interest in obtaining a loan. You can do this by filling out a form or speaking to the staff.
• Verify your Poverty Score Card: The loan center will check your Poverty Score Card to determine if you meet the eligibility criteria for the loan program.
• Register as a potential borrower: If you meet the criteria, you will be registered as a potential borrower for the loan.
• Receive application form and guidance: You will receive an application form and assistance in creating a business plan that outlines your proposed business venture.
• Submit required documents: Complete the application form and attach all the necessary documents, including the business plan. Submit them to the loan center.

Please note that the specific requirements and procedures may vary, so it’s essential to follow the guidelines provided by the Ehsaas Loan Program.

Approval Process for Ehsaas Loan Program

To get approval for an Ehsaas Loan, the following steps are followed:

• Review by Loan Center: The loan center carefully examines your loan application and supporting documents. They check if you meet the requirements and if your application is suitable for the program.
• Recommendation by Loan Center: If your application meets all the necessary criteria, the loan center will recommend your case for approval.
• Submission to PO Head Office: The loan center then sends your recommended application to the head office of the Program Operator (PO) for further processing and final approval.

Please remember that the final decision on loan approval depends on the policies and guidelines of the Ehsaas Loan Program.

Disbursement of Beneficiary for Interest-Free Loan Scheme:

When you are approved as a beneficiary of the Interest-Free Loan Scheme, you will go through the following steps to receive your loan:

• Approval of recommended cases: After your loan application is reviewed and recommended by the loan center, it will go through a final approval process.
• Issuance of order or PIN: You will receive an order that includes your name and Computerized National Identity Card (CNIC) number. If you receive the loan through electronic transfer, you will be given a PIN. The bank will verify your original CNIC with the PIN.
• Disbursement at Loan Center: The loan center designated for the scheme is where you will receive your loan amount. You can go to this loan center to collect the approved loan amount during the disbursement process.

Please remember that the specific disbursement procedures may vary based on the guidelines and regulations of the Ehsaas Loan Program.