CM Punjab Asaan Karobar Card
The CM Punjab Asaan Karobar Card is a revolutionary program by the Punjab government aimed at empowering small business owners. With interest-free loans up to PKR 1 million, this scheme fosters entrepreneurship, ensuring business growth and economic stability across the province.
Key Features of the Asaan Karobar Card
This initiative provides numerous benefits to support entrepreneurs:
- Loan Amount: Up to PKR 1 million.
- Loan Tenure: 3 years.
- Revolving Credit Facility: Available for 12 months.
- Repayment Term: 24 monthly installments, starting after a one-year grace period.
- Grace Period: 3 months post card issuance.
- Interest Rate: 0% (completely interest-free).
Also Read: Punjab Asaan Karobar Loan Scheme
Eligibility Criteria for the Asaan Karobar Card
To qualify for the program, applicants must:
- Residency: Be residents of Punjab and Pakistani nationals.
- Age: Be between 21 and 57 years old.
- Identification: Possess a valid CNIC and registered mobile number.
- Business Location: Have an existing or planned business in Punjab.
- Credit History: Maintain a clean credit record with no overdue loans.
- Application Limit: Only one application per individual or business.
Also Read: Maryam Nawaz New Loan Scheme
How to Apply for the Asaan Karobar Card
Here’s a simple guide to apply for the program:
- Register Online:
- Visit the official portal.
- Use your registered mobile number to create an account.
- Complete the Application Form:
- Fill in personal and business details accurately.
- Ensure all required fields are completed.
- Upload Required Documents:
- Recent passport-size photograph or selfie.
- CNIC (front and back scanned copies).
- Two non-relative references (with CNIC details and contact numbers).
- Proof of business premises (e.g., rent agreement, registry).
- Income and expense details.
- Pay the Processing Fee:
- A non-refundable fee of PKR 500 is required.
- Submit Application:
- Review your information and submit the application for review.
- Track Application Status:
- Use the provided registration number to monitor progress.
Also Read: Asaan Karobar Scheme Register
Loan Utilization and Repayment Guidelines
Loan allocation and usage details include:
- Initial 50%: Accessible within the first six months.
- Grace Period: No repayment required for the first three months.
- Repayment:
- Starts after the grace period.
- Monthly minimum repayment of 5% of the outstanding balance.
- Remaining 50%: Released after regular repayments and registration with PRA/FBR.
Also Read: CM Punjab Karobar Card Loan Scheme Launched for Small Businesses
Fees and Additional Charges
The program includes the following charges:
- Annual Card Fee: PKR 25,000 + FED (deducted from the loan limit).
- Other Charges: Includes life insurance and card delivery.
- Late Payment Penalty: Imposed as per the bank’s schedule of charges.
Also Read: PK Login for Asaan Karobar Ca
Documents Required
Applicants need to prepare the following:
- Passport-size photograph or selfie.
- Scanned copies of the front and back of CNIC.
- A registered mobile number.
- Two non-relative references.
- Proof of business premises.
- Detailed income and expense records.
Also Read: CM Maryam Announces Punjab Asaan Karobar Scheme
Conclusion
The CM Punjab Asaan Karobar Card is a transformative initiative empowering small entrepreneurs through interest-free loans and a seamless application process. This program promotes financial independence, helping individuals contribute to Punjab’s economic development. Don’t miss this opportunity—apply today to secure your future.
FAQs
- Who is eligible for the Asaan Karobar Card? Entrepreneurs aged 21-57 years residing in Punjab with a valid CNIC.
- What is the maximum loan amount? Loans up to PKR 1 million are offered.
- Is the loan interest-free? Yes, the loan is completely interest-free.
- Can the funds be used for personal expenses? No, funds must strictly be used for business purposes.
- What is the repayment period? The loan repayment spans 24 monthly installments, starting after a three-month grace period.
- How do I apply? Register on the official portal, complete the form, and upload necessary documents.