Prime Minister Youth Program Online Apply 2024 Check Status

The Prime Minister Youth Program 2024 offers different types of loans, divided into three tiers:

Tier 1:

• Loan Amount: You can get a loan from 0.5 million PKR (Pakistani Rupees) with 0% markup, which means you won’t have to pay any additional interest on the loan amount.

Tier 2:

• Loan Amount: If you need a higher amount, you can apply for a loan above 0.5 million up to 1.5 million PKR.
• Markup: For this tier, there is a 5% markup, which means you will pay a small amount of interest on the loan.

Tier 3:

• Loan Amount: If you require an even larger loan, you can apply for an amount above 1.5 million up to 7.5 million PKR.
• Markup: In this tier, the markup is 7%, which is still a reasonable interest rate for the loan.

These loan options aim to support young individuals like you with various financial needs. Choose the tier that fits your requirements, and the Prime Minister Youth Loan Program is here to help you fulfill your goals and aspirations.

Prime Minister Youth Program Online Apply 2024 Method

To apply Prime Minister Youth Loan Program Online Apply in 2024, follow these simple steps on the official website at https://pmyp.gov.pk/BankForm/newApplicantForm:

1: Gather Required Documents Before you start your application, make sure you have scanned copies or clear pictures of the following documents ready:

1. Passport Size Picture
2. CNIC – Front Side
3. CNIC – Back Side
4. Latest Educational degree/certificate (Matric, Intermediate, Bachelor, Master, Ph.D., etc.)
5. Experience certificate(s) (if applicable)
6. License/Registration with Chamber or Trade Body (if applicable)
7. Recommendation Letter from respective chamber/trade body or Union (mandatory for an existing business)

2: Gather Necessary Information Ensure you have the following information handy:

8. National Tax Number (If you don’t have one, register at the provided link)
9. Consumer ID of Electricity bill for your current address
10. Consumer ID of Electricity bill for your current office address (if applicable)
11. Complete the Registration number of any vehicle registered in your name (if applicable)
12. Name, CNIC, and Mobile numbers of two references other than blood relatives
13. Estimate Monthly business income, business expenses, household expenses, and other income (for new business), or provide actual details if you have an existing business.

3: Sign Up and Start Application Go to the official website of the Prime Minister Youth Program and sign up to create an account. Once you’ve signed up, you can start the application process.

4: Complete the Application Form Fill in the required details in the application form. The form may take around 15 minutes to complete, depending on the availability of the listed information.

5: Upload Supporting Documents Upload all the required documents mentioned in Step 1. You can also upload additional information like financial statements, business feasibility, bank statements, etc., to support your application.

6: Submit the Application Review the filled-in application form and the uploaded documents. If everything is correct, submit the application.

7: Note Your Application Registration Number After submitting the form, you will receive an application registration number on the screen. Additionally, you will receive an SMS with the same registration number. Keep this number safe for future reference.

8: Check Application Status You will receive an SMS when your application moves to the next stage of the process. However, you can also check the status of your submitted application on the official website.

Please ensure that you have a mobile number registered in your name as the bank will communicate with you using that number.

Prime Minister Youth Program 2024 Check Status

To check the status of your application for the Prime Minister Youth Program 2024, follow these simple steps:

1. Visit the Official Website: Go to https://pmyp.gov.pk/pmyphome/TraceApplication on your web browser.
2. Enter Required Information: In the application status section, you’ll be asked to provide the following details:
   • Your CNIC (Computerized National Identity Card) number
   • CNIC issue date (the date your CNIC was issued)
   • Your mobile number
   • Date of birth
3. Submit Information: Fill in the required information accurately in the respective fields.
4. View Status Update: After submitting the necessary details, the website will show you the current status of your application. It will indicate whether your application is under review, approved, rejected, or provide any other relevant information regarding your application.

Calculate Loan Repayment Schedule

To calculate the loan repayment schedule for the Prime Minister Youth Program 2024 application, follow these easy steps:

1. Visit the Official Website: Go to https://pmyp.gov.pk/pmyphome/Calculator using your web browser.
2. Enter Loan Details: On the page, you will see a form where you need to provide the following information:
   • Loan Amount: Enter the amount you are applying for in the Prime Minister Youth Program.
   • Loan Period: Choose the loan duration in years from the available options.
3. Click Calculate: Once you have entered the required details, click on the “Calculate” button.
4. View Loan Repayment Schedule: After clicking “Calculate,” the website will generate the loan repayment schedule for you. This schedule will show the details of each installment, including the amount to be paid, the breakdown of principal and interest, and the remaining balance for each payment period.

By following these steps, you can easily calculate the loan repayment schedule for your Prime Minister Youth Program 2024 application. This will give you a clear understanding of how the loan will be repaid over the selected loan period.

FAQs:

Can I apply for a loan at bank branches?

• No, you need to apply online at this link: https://pmyp.gov.pk/bankform/newapplicantform

Can non-resident Pakistanis apply?

• No, this scheme is only for people living in Pakistan.

Is there any gender preference?

• No, all genders have equal opportunities. 25% of loans are reserved for women to promote fairness.

Can government employees apply?

• No, government employees cannot apply for this scheme.

What is the minimum education required?

• There is no specific requirement, but having an education can be helpful. For certain businesses, relevant qualifications or licenses are necessary.