5 Lakh Loan Without Interest in Pakistan Apply Online: Prime Minister of Pakistan Shahbaz Sharif has announced the new 5 Lakh Loan scheme without interest in Pakistan in 2024. Under this scheme, individuals aged between 18 and 60 years old with a valid CNIC and a viable business plan can apply for a loan of up to 5 lakh without any interest. This 5 Lakh Loan scheme is aimed at providing financial support to aspiring entrepreneurs and small business owners, enabling them to turn their dreams into reality and contribute to the growth of the country’s economy. The eligibility criteria are straightforward and accessible, making it easy for anyone to apply and avail of this opportunity.
5 lakh loan From Government
The funds under this scheme range from 50,000 to 5 lakh PKR, and any individual whose business is struggling in the current economic condition of Pakistan is eligible for the loan. The Prime Minister has also announced احساس بلاسود قرضے an Ehsas bila sood qarza of around 1 million to minor business persons, which will be implemented soon. This initiative is a great opportunity for individuals who wish to start their own business but lack the financial resources to do so. Stay tuned for the application procedure, which will be shared with the audience once it has been announced.
5 Lakh Loan Without Interest in Pakistan Apply Online
5 Lakh Loans Without Interest in Pakistan
If you are looking to apply for a loan of up to 5 lakhs without interest in Pakistan, several options are available to you. Here are some important details on how to apply:
- Ehsaas Program: The Ehsaas program is a government initiative that provides interest-free loans to low-income individuals and small businesses. The loan amount can range from Rs. 10,000 to Rs. 500,000, and the repayment period is up to 36 months. You can apply for the program online by visiting the Ehsaas website.
- Kafalat Program: The Kafalat program is another government initiative that provides interest-free loans to low-income households. The loan amount can range from Rs. 10,000 to Rs. 100,000, and the repayment period is up to 36 months. You can apply for the program by visiting the nearest Kafalat center or by calling their toll-free number.
- Akhuwat: Akhuwat is a non-profit organization that provides interest-free loans to individuals and small businesses. The loan amount can range from Rs. 5,000 to Rs. 500,000, and the repayment period is up to 5 years. You can apply for the program by visiting the nearest Akhuwat branch or by filling out an online application form.
To apply for any of these programs, you will need to provide some basic documents such as your CNIC, residence proof, and income documentation. You may also be required to attend a brief training session or complete a financial literacy course before receiving the loan.
Eligibility Criteria
Sure, here are the eligibility criteria for each of the programs mentioned:
Ehsaas Program:
- To be eligible for the Ehsaas program, you must be a Pakistani citizen, aged 18 or above, and reside in a low-income area. You should also have a valid CNIC and a bank account in your name. Additionally, you must not have any outstanding loans from other financial institutions.
Kafalat Program:
- To be eligible for the Kafalat program, you must be a Pakistani citizen, aged 18 or above, and reside in a low-income area. You should also have a valid CNIC and a bank account in your name. Additionally, you must not have any outstanding loans from other financial institutions.
Akhuwat:
- To be eligible for an Akhuwat loan, you must be a Pakistani citizen, aged 18 or above, and have a viable business or income-generating project. You should also have a valid CNIC and a bank account in your name. Additionally, you must attend a brief training session or complete a financial literacy course before receiving the loan.
Please note that the eligibility criteria may vary depending on the loan amount and repayment period, and additional documentation may be required in some cases. It is advisable to check the official websites or contact the program offices for more information.
5 Lakh Loan Without Interest In Pakistan Eligibility Criteria
Eligibility Criteria:
- Monthly income should be less than Rs. 40000.
- Should not be a government employee.
- Age limits are 18 to 40 years maximum.
Banks Designated for 5 Lakh Ehsaas Interest-free Loans
- National Bank of Pakistan
- First Women Bank Limited
- SME Bank Limited
- Bank of Punjab
- Habib Metropolitan Bank
- MCB Bank Limited
- Khushhali Microfinance Bank
- United Bank Limited
- Faysal Bank Limited
- Zarai Taraqiati Bank Limited
Ehsaas 5 Lakh Loan Scheme 2024
The eligibility criteria for the 5 lakh loan without interest in Pakistan program are designed to benefit individuals from low-income families or those who are unemployed. The applicant must be a family head or a member of a family with an income of less than 40,000 or no income at all. Women, men, and transgender individuals are all eligible to apply for this program.
The Ehsas program prioritizes areas with low microfinance beneficiary rates, where the poverty score is between 18.5 and 40. Women will also receive a significant portion of the budget allocated for the program. This initiative marks a significant departure from traditional loan programs as it offers a 0% markup rate and a 3-year loan repayment period.
