The Punjab Asaan Karobar Card offers an interest-free loan of up to Rs. 10 lakh to support small businesses and entrepreneurs in Punjab. Here are the key features and eligibility criteria:<br />Key Features:<br />Loan Amount: Up to Rs. 10 lakh (interest-free)<br />Repayment Term: 3 years with monthly installments<br />Grace Period: 3 months before starting repayments<br />Usage Options: Business-related activities, vendor payments, utility bills, government fees, and taxes<br />Withdrawal Limit: 50% of the loan amount can be used in the first six months, with the remaining 50% granted based on repayment history<br />¹ ²<br />Eligibility Criteria:<br />Age Range: 21 to 57 years<br />Residency: Pakistani national residing in Punjab<br />Business Location: Existing or proposed business in Punjab<br />Credit Assessment: Satisfactory credit history and psychometric evaluation<br />Tax Registration: Mandatory registration with PRA or FBR within six months<br />¹<br />Application Process:<br />Pay Processing Fee: Rs. 500 via mobile banking or designated bank branches<br />Prepare Documents: Valid CNIC, business details, and FBR tax record<br />Complete Registration: Visit the Punjab government website or registration centers, fill out the application form, and submit required documents<br />Await Confirmation: Receive an SMS with application status<br />Additional Information:<br />The Asaan Karobar Card Scheme is part of the Punjab government's initiative to boost economic growth, support entrepreneurship, and reduce unemployment.<br />The scheme provides a revolving credit facility for 12 months, with equal monthly installments over 2 years.<br />An annual card fee of Rs. 25,000 + FED applies ³ ¹.
