Maryam Nawaz Loan Schemes

Under the leadership of Punjab Chief Minister Maryam Nawaz Sharif (Maryam Nawaz Loan Scheme), the Punjab government has introduced several interest-free loan schemes to support economic growth and improve living standards. Below are detailed explanations of the three primary programs, including eligibility criteria and application processes:

Three Maryam Nawaz Loan Schemes:

1. Asaan Karobar Card Scheme

Objective: To provide interest-free loans to small entrepreneurs in Punjab, facilitating business growth and sustainability through a digital SME card.

Key Features:

• Loan Amount: Up to PKR 1 million.
• Loan Tenure: 3 years.
• Grace Period: 3 months from card issuance before repayment begins.
• Repayment Structure:
  • First 12 months: Revolving credit facility.
  • Following 24 months: Repayment in equal monthly installments.
• Usage:
  • Payments to vendors and suppliers.
  • Payment of utility bills, government fees, and taxes.
  • Cash withdrawals (up to 25% of the limit) for miscellaneous business needs.
  • Digital transactions via Point of Sale (POS) systems and mobile applications.

Eligibility Criteria:

• Age: Between 21 and 57 years.
• Residency: Pakistani national residing in Punjab.
• Identification: Valid Computerized National Identity Card (CNIC) and a mobile number registered in the applicant’s name.
• Business Status: Existing or prospective business located in Punjab.
• Credit History: Clean credit history with no overdue loans.
• Assessments: Successful credit and psychometric evaluations.
• Application Limit: One application per individual and business.

How to Apply:

1. Online Registration:
   • Visit the official Punjab Information Technology Board (PITB) portal at akc.punjab.gov.pk.
   • Click on the “Register” button to enrol or create a new account.
   • Fill in the required personal information, including name, CNIC number, date of birth, and contact details.
   • Create a safe and secure password and submit the registration form.
2. Application Form:
   • Log or sign-in in to your account using the credentials created during registration.
   • Complete the online application form by providing detailed information about your business, financial status, and other required details.
3. Processing Fee:
   • Pay a non-refundable processing fee of PKR 500 as part of the application submission.
4. Submission:
   • Review all entered information for accuracy.
   • Submit the application form online.

Additional Information:

• Annual Card Fee: PKR 25,000 plus Federal Excise Duty (FED), deducted from the approved loan limit.
• Late Payment Penalty: Applied as per the bank’s policy.
• Security: Personal guarantee digitally signed by the borrower; life insurance included for borrower protection.
• Business Verification: Physical verification of the business location within six months of approval, conducted by the Urban Unit.

2. Asaan Karobar Finance Scheme

Objective: To empower small and medium-sized enterprises (SMEs) by providing interest-free loans, thereby stimulating economic growth through business startups, expansions, and modernizations.

Key Features:

• Loan Amounts:
  • Tier 1: PKR 1 million to PKR 5 million.
  • Tier 2: PKR 6 million to PKR 30 million.
• Interest Rate: 0% (Interest-free loans).
• Loan Tenure: Up to 5 years.
• Grace Period:
  • Up to 6 months for startups or new businesses.
  • Up to 3 months for existing businesses.
• Repayment: Equal monthly installments over the loan tenure.
• Processing Fee:
  • PKR 5,000 for Tier 1 applicants.
  • PKR 10,000 for Tier 2 applicants.
• Late Payment Charges: PKR 1 per 1,000 per day on overdue amounts.

Eligibility Criteria:

• Age: Between 21 and 57 years.
• Identification: Valid CNIC and a registered mobile number.
• Residency: Business located within Punjab.
• Tax Compliance: Registered tax filer with a clean credit history.
• Business Premises: Ownership or rental agreement for business and residential premises.

How to Apply:

1. Prepare Required Documents:
   • Passport-size photograph or a clear selfie.
   • Scanned copies of CNIC (both sides).
   • Registered mobile number.
   • Details of two non-relative references, including their CNIC copies and contact information.
   • Proof of tax filing status.
   • Business-related documents, such as income and expense records.

3. The Apni Chhat Apna Ghar

Scheme is an initiative by the Punjab government aimed at providing affordable housing solutions to low and middle-income families in the province. This program offers interest-free loans to eligible applicants for the construction of homes, thereby promoting homeownership and improving living standards.

Key Features:

• Interest-Free Loans: Eligible applicants can receive up to PKR 1.5 million without any markup.
• Flexible Repayment: The loan is repayable over nine years through monthly installments.
• Grace Period: A three-month construction period is provided before the commencement of monthly installments.

Eligibility Criteria:

To qualify for the Apni Chhat Apna Ghar scheme, applicants must meet the following requirements:

1. Permanent Residency: The applicant must be a permanent resident of Punjab with a valid CNIC card.
2. Land Ownership:
   • For urban areas, applicants must own a plot of land measuring up to 5 marlas.
   • For rural areas, applicants must own a plot of land measuring up to 10 marlas.
3. Clean Criminal Record: Applicants should not have any criminal background or involvement in anti-state activities.
4. No Default History: Applicants should not be defaulters of any bank or financial institution.
5. Income Level: Applicants with a household income below PKR 50,000 are prioritized.

How to Apply:

Interested candidates can apply online by following below steps:

1. Visit the Official Portal: Access the dedicated portal at acag.punjab.gov.pk.
2. Register an Account:
   • Fill out the Citizen Registration Form with your full name, CNIC number, father’s or husband’s CNIC number, gender, email address, mobile number, and residential details.
   • Create and confirm a secure password to complete the registration process.
3. Complete the Certification Form: After registration, fill out the certification form to confirm your eligibility in each category.
4. Submit the Application Form:
   • Provide general information, attach necessary documents (such as proof of land ownership and income), and include any additional remarks.
   • Review all entered information for accuracy before submission.

Targeted Cities and Housing Units:

The scheme aims to construct approximately 100,000 affordable homes across various districts in Punjab. In the initial phase, the following allocations have been made:

• Lahore: Near Raiwind Road, 5,000 houses.
• Rawalpindi: Near FMC Central Park, 1,728 houses.
• Sialkot: Near Pasror Road and Sialkot Public School Road, 1,184 houses.
• Faisalabad: Near Iqra International Institute, 960 houses.
• Sargodha: Near Royal Orchard, 704 houses.

Additional Information:

• Monthly Installments: After the initial three-month construction period, beneficiaries will commence monthly installments of approximately PKR 14,000.
• Support and Queries: For further information or assistance, applicants can contact the helpline at 0800-09100.

This initiative reflects the Maryam Nawaz Punjab government’s commitment to addressing housing challenges and facilitating homeownership for its residents.