The Asaan Karobar Loan Scheme is an initiative designed to support small business owners in Punjab by offering interest-free loans of up to PKR 1 million. The scheme is structured through digital platforms, including mobile apps and POS systems, ensuring transparency and effective fund management.
Here’s everything you need to know about the scheme, including the essential requirements for applying.
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Features of the Asaan Karobar Loan Scheme
- Loan Limit: Up to PKR 1 million
- Loan Tenure: 3 years
- Loan Type: Revolving credit for 12 months
- 24 equal monthly installments after the first year
- Grace Period: 3 months from card issuance before repayments start
- Usage Options:
- Payments to vendors and suppliers
- Utility bills, government fees, and taxes
- Cash withdrawal (up to 25% of the limit) for business purposes
- Digital payments through POS or mobile apps
- Interest Rate: 0%
Eligibility Criteria for Asaan Karobar Loan
To be eligible for the Asaan Karobar Loan Scheme, applicants must meet the following requirements:
- Age Between 21 to 57 years
- Must be a Pakistani national residing in Punjab
- CNIC and mobile number should be registered in the applicant’s name
- Existing or prospective business in Punjab
- Must pass a satisfactory credit and psychometric evaluation
- No overdue loans or default history
- Only one application per individual and business
- Required registration with PRA or FBR within six months of card issuance
آسان کاروبار لون اسکیم کے لیے اہل ہونے کے لیے، درخواست دہندگان کو درج ذیل ضروریات کو پورا کرنا ہوگا:
عمر 21 سے 57 سال کے درمیان
پنجاب میں مقیم پاکستانی شہری ہونا ضروری ہے۔
CNIC اور موبائل نمبر درخواست دہندہ کے نام پر رجسٹرڈ ہونا چاہیے۔
پنجاب میں موجودہ یا ممکنہ کاروبار
تسلی بخش کریڈٹ اور سائیکومیٹرک تشخیص پاس کرنا ضروری ہے۔
کوئی واجب الادا قرض یا ڈیفالٹ تاریخ نہیں۔
فی فرد اور کاروبار صرف ایک درخواست
کارڈ جاری ہونے کے چھ ماہ کے اندر PRA یا FBR میں رجسٹریشن ضروری ہے۔
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How to Apply for the CM Asaan Karobar Card Loan?
The application process is simple and fully digital. Follow these steps:
- Apply online through the PITB portal.
- Pay a non-refundable processing fee of PKR 500.
- The authorities will verify your CNIC, creditworthiness, and business premises digitally.
Loan Usage and Repayment Details
Here are the details about the loan usage and repayment terms:
- First 50% Limit is available for use within the first 6 months
- 3 months after card issuance, before monthly payments begin
- The minimum monthly payment is 5% of the outstanding loan balance (principal only)
- The second 50% Limit is released upon satisfactory usage, timely repayments, and tax registration with PRA/FBR
- The remaining balance is to be repaid over 2 years in equal monthly installments (EMIs)
- Allowed Usage:
- Business-related activities such as vendor payments, bills, taxes, and cash withdrawals for business purposes
- Non-business-related transactions, such as personal expenses and entertainment, are blocked.
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Charges
The scheme includes the following charges:
- Annual Card Fee is 25,000 + FED (deducted from the loan limit)
- Other Charges are Life assurance, card issuance, and delivery fees (covered by the scheme)
- Late Payment Charges are as per the bank’s policy
Security and Verification
- Borrowers must provide a digital personal guarantee.
- Life Assurance must be included in the loan portfolio.
- The Urban Unit will verify business premises within 6 months of loan approval and conduct annual checks.
For More Information: Fees To Qualify For The Asan Karobar Scheme 2025
Additional Support for Applicants
The scheme also offers additional support for applicants:
- These are Available on the PSIC and Bank of Punjab official websites for new businesses and startups.
- Helpline: Call 1786 for assistance with the application process.
- Official Website: Visit akf.punjab.gov.pk for the latest news and updates and information.
Conclusion
The Asaan Karobar Loan Scheme is an excellent opportunity for small business owners in Punjab to access interest-free financial support. By meeting the eligibility criteria and following the application process, you can take advantage of this scheme to grow and improve your business. Make sure to check all requirements and apply before the deadline to secure your loan and start using it for your business needs.