CM Asaan Karobar Card Loan Scheme
CM Asaan Karobar Card Loan Scheme is a revolutionary scheme of the Punjab government aimed at providing financial assistance to the youth to start their own business or expand their existing business. Under this scheme, interest-free loans ranging from Rs. 1 lakh to Rs. 10 lakh will be provided to the residents of Punjab. An easy repayment period of three years has been given for the loan, which includes a grace period of the first three months. Applicants will have to complete their registration by submitting the form on the online portal [akc. Punjab.gov.pk](https://akc.punjab.gov.pk) from home.
This scheme is specially designed for individuals who want to start a business or grow their small business. There is complete freedom in the use of the loan, such as paying suppliers, paying utility bills, or withdrawing cash for business purposes. Applicants should be between 21 and 57 years of age and should be permanent residents of Punjab. This loan is completely interest-free thanks to which small entrepreneurs can turn their dreams into reality without any financial pressure.
CM Asaan Karobar Card Loan Scheme not only provides easy financial assistance but also provides additional guidance and planning services for startups to the applicants. If you also want to gain independence through business, then complete your registration for this scheme today and avail this golden opportunity.
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Key Benefits of the Asaan Karobar Card
- Loan amounts up to 1 million PKR.
- A flexible repayment period of three years.
- A three-month grace period before repayments start.
- Facilities for digital transactions and vendor payments.
Key Features of the Scheme
Loan Limits and Tenure
- Loan Amount: 100,000 to 1 million PKR.
- Tenure: Three years, with a 12-month revolving credit facility.
Repayment Terms
- Grace period of three months after the card issuance.
- Repayments in equal monthly installments over two years.
Usage of Funds
- Payments to vendors and suppliers.
- Covering utility bills, government fees, and taxes.
- Cash withdrawal (up to 25%) for essential business needs.
Interest Rate
- Completely interest-free (0%), making it an ideal choice for entrepreneurs.
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Eligibility Criteria
To qualify for the Asaan Karobar Card, you must meet the following requirements:
Age and Residency
- Must be 21 to 57 years old.
- A resident of Punjab with Pakistani nationality.
Business Requirements
- Applicable to both existing and new businesses in Punjab.
- A clean credit history with no overdue loans.
Personal Requirements
- A valid CNIC and a registered mobile number.
- Pass a psychometric assessment to ensure credibility.
Additional Conditions
- Only one application is allowed per individual or business.
- Mandatory registration with PRA/FBR within six months of card issuance.
How to Register for the Asaan Karobar Card Online
The registration process is straightforward and entirely online. Follow these steps to apply:
Step 1: Visit the Official Website
Go to https://akc.punjab.gov.pk/userProfile/new. Create an account by entering your basic details.
Step 2: Log In
Use your CNIC and password to access the application portal.
Step 3: Fill in Personal Information
Provide details like your name, address, education, employment status, and family dependents.
Step 4: Enter Business Information
Include details about your business, such as its type, address, and contact information.
Step 5: Specify Loan Details
Choose the loan amount you need and explain its intended use.
Step 6: Upload Documents
Attach the required documents, including:
- Front and back copies of your CNIC.
- CNIC copies of any business partners or directors (if applicable).
Step 7: Pay the Processing Fee
Submit a non-refundable fee of 500 PKR to finalize your application.
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Loan Usage and Repayment Terms
Initial Loan Usage
- First 50% of the loan can be utilized within the first six months.
- Minimum repayment of 5% of the outstanding balance monthly.
Subsequent Loan Usage
- The remaining 50% is accessible after meeting repayment requirements and completing PRA/FBR registration.
Grace Period
- No repayments are required for the first three months after receiving the card.
Restrictions on Funds
- The loan must strictly be used for business purposes.
- Personal or non-essential expenditures are not allowed.
Fees and Security Details
Charges
- Annual card fee: 25,000 PKR + FED (deducted from the loan limit).
- Late payment charges as per bank policy.
Security Measures
- Personal guarantee digitally signed by the borrower.
- Life assurance for loan security.
- Physical verification of business premises by Urban Unit.
Additional Support for Applicants
- Feasibility Studies: Startups can access feasibility reports on PSIC and BOP websites.
- Advisory Services: Guidance on business registration and fund usage is available.
Conclusion
The CM Asaan Karobar Card Loan Scheme is a game-changer for Punjab’s aspiring entrepreneurs. With interest-free loans, an easy online registration process, and transparent repayment terms, this initiative empowers individuals to achieve financial independence and contribute to the province’s economic growth.
If you are eligible, do not miss out on this opportunity. Visit the official website today and take the first step toward building a successful business.
FAQs
What is the Asaan Karobar Card?
It is a financial initiative by the Punjab government to provide interest-free loans to support small businesses and entrepreneurs.
What is the maximum loan amount?
Loans range from 100,000 to 1 million PKR, depending on business requirements.
How do I register online?
Visit akc.punjab.gov.pk, create an account, fill out the form, upload documents, and pay a 500 PKR fee.
Is the loan interest-free?
Yes, the loans are completely interest-free, making it an excellent opportunity for business growth.
What support is available for startups?
Feasibility studies and business guidance are offered through the PSIC and BOP platforms.
Take the leap and turn your entrepreneurial dreams into reality with the Asaan Karobar Card Loan Scheme!
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