Great news for small business owners in Punjab! The Asaan Karobar Card Scheme has officially approved over 80,000 applications, offering interest-free loans to empower entrepreneurs. If you’re considering applying, here’s a straightforward guide to help you navigate the process and understand the key conditions.
Table of Contents
Table: Quick Details
| Feature | Details |
| Loan Amount | PKR 100,000 to PKR 1,000,000 |
| Interest Rate | 0% |
| Loan Tenure | 3 years |
| Repayment Period | 24 equal monthly installments after 3-month grace period |
| Grace Period | 3 months |
| Application Deadline | March 31, 2025 |
| Processing Fee | PKR 500 |
| Annual Card Fee | PKR 25,000 + Federal Excise Duty (FED) |
| Usage Restrictions | Business-related expenses only |
| Registration Requirement | Must register with PRA/FBR within 6 months of card issuance |
Asaan Karobar Card Scheme: 6 Mandatory Conditions
1. Age and Residency
- Applicants must be between 21 and 57 years old and must be residents of Punjab. A valid Computerized National Identity Card (CNIC) and a mobile number registered in the applicant’s name are required.
2. Business Status
- You should either have an existing business or be planning to start one in Punjab. The business must be registered, and you must commit to registering with the Punjab Revenue Authority (PRA) or the Federal Board of Revenue (FBR) within six months of receiving the card.
3. Credit and Psychometric Assessments
- A clean credit history with no overdue loans is essential. Additionally, applicants must pass credit and psychometric evaluations to qualify for the scheme.
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4. Loan Usage
- The funds must be used exclusively for business-related expenses such as vendor payments, utility bills, taxes, or business expansion. Non-business-related transactions are blocked to ensure the funds are utilized appropriately.
5. Repayment Terms
- The loan is repayable over a period of three years, with a three-month grace period before repayments commence. After the grace period, repayments are made in 24 equal monthly installments. The first 50% of the loan amount is available within the first six months, with the remaining 50% released upon satisfactory usage and regular repayments.
6. Documentation
- Applicants must provide essential documents including CNIC, business registration certificate, tax registration (NTN) certificate, bank account information, recent utility bill, ownership or lease agreement, a recent passport-size photograph, and contact details.
Read More: Check Your Asaan Karobar Card Application Status
How to Apply for the Asaan Karobar Card Scheme?
Online Registration for the Asaan Karobar Card Scheme
- Visit the official PITB portal at akc.punjab.gov.pk and click on the “Register” button. Fill in the required personal information, including your name, CNIC number, date of birth, and mobile number. Create a secure password and submit the registration form.
Application Form
- Log in to your account using the credentials created during registration. Complete the online application form by providing detailed information about your business, financial status, and any other required details.
Processing Fee
- Pay a non-refundable processing fee of PKR 500 as part of the application submission.
Submission
- Review all entered information for accuracy and submit the application form online.
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Benefits of the Asaan Karobar Card Scheme
- Interest-Free Loans: Access to capital without the burden of interest.
- Flexible Repayment: Manageable monthly installments over three years.
- Digital Transactions: Convenient payments through POS and mobile apps.
- Business Growth: Support for expanding and sustaining your business.
Conclusion
The Asaan Karobar Card Scheme is a significant initiative by the Punjab government to support small entrepreneurs. By adhering to the eligibility criteria and conditions, you can benefit from this opportunity to grow your business. Ensure that you use the funds responsibly and comply with all requirements to make the most of this scheme.
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FAQS
How much loan can I get under the Asaan Karobar Card Scheme?
You can receive a loan ranging from PKR 100,000 to PKR 1,000,000, depending on your business requirements and credit evaluation.
What is the interest rate on the loan?
The loan is completely interest-free, making it a highly beneficial option for small business owners who need financial support.
How long do I have to repay the loan?
The loan repayment period is 3 years, with a 3-month grace period before repayments begin. The loan is repaid in 24 equal monthly installments.
Can the loan be used for personal expenses?
No, the loan must be used exclusively for business-related expenses such as inventory, utility bills, or business expansion. Personal expenses are not allowed.