Running a small business in Punjab? The Asaan Karobar Card might just be the financial support you need. Launched by Chief Minister Maryam Nawaz Sharif, this initiative offers interest-free loans up to PKR 1 million to help entrepreneurs like you grow and sustain your businesses.
Table of Contents
Key Features of the Asaan Karobar Card
Loan Amount and Tenure
- Maximum Loan Limit: Up to PKR 1 million
- Loan Type: Revolving credit facility for 12 months
- Repayment Term: 24 equal monthly installments after the first year
- Grace Period: 3 months from card issuance for repayment commencement.
Read More: BISP New Payments Resume
Usage of Funds
- Vendor and Supplier Payments: Pay for goods or services essential for your business.
- Utility Bills and Government Fees: Cover essential operational costs.
- Cash Withdrawal: Up to 25% of the limit for miscellaneous business purposes.
- Digital Transactions: Use through POS and mobile app.
Interest Rate
- End-User Interest Rate: 0%
Eligibility Criteria for the Asaan Karobar Card
To qualify for the Asaan Karobar Card, you must:
- Age: Be between 21 to 57 years old.
- Residency: Be a Pakistani national residing in Punjab.
- Identification: Have a valid CNIC and a mobile number registered in your name.
- Business Location: Own or rent a business premises in Punjab.
- Credit History: Maintain a clean credit history with no overdue loans.
- Application Limit: Only one application per individual and business.
Read More: Benazir Taleemi Wazaif Stipend Increase
Application Process for the Asaan Karobar Card
- Online Application: Submit your application digitally via the PITB portal.
- Processing Fee: Pay a non-refundable fee of PKR 500.
- Verification: Undergo digital verification of CNIC, creditworthiness, and business premises by authorized agencies.
Asaan Karobar Card Loan Usage and Repayment Details
- First 50% Limit: Available for use within the first 6 months.
- Grace Period: 3 months after card issuance.
- Repayment Start: After 3 months, begin monthly installments with a minimum payment of 5% of the outstanding loan balance (principal only).
- Second 50% Limit: Released upon satisfactory usage, regular repayments, and registration with PRA/FBR.
- Usage Restrictions: Funds are restricted to business-related purposes. Non-essential transactions (e.g., personal consumption, entertainment) are blocked.
- Final Repayment: The remaining balance after the first year is repaid over 2 years in Equal Monthly Installments (EMIs).
Read More: Apply Online for PM Loan Scheme Phase 2
Asaan Karobar Card Charges and Fees
- Annual Card Fee: PKR 25,000 + FED, recovered from the approved limit.
- Additional Charges: Life assurance, card issuance, and delivery charges covered by the scheme.
- Late Payment Charges: Recovered as per the bank’s policy or schedule of charges.
Asaan Karobar Card Security Details
- Personal Guarantee: Digitally signed by the borrower.
- Life Assurance: Included in the portfolio.
- Business Verification: Urban Unit conducts physical verification of business premises within 6 months of loan approval and annually thereafter.
Asaan Karobar Card Details with Dates
| Feature | Details |
| Application Start Date | January 15, 2025 |
| Application Deadline | March 31, 2025 |
| Processing Fee | PKR 500 |
| Loan Amount | Up to PKR 1 million |
| Interest Rate | 0% |
| Loan Tenure | 3 years |
| Grace Period | 3 months from card issuance |
| Repayment Term | 24 equal monthly installments after 1st year |
| Annual Card Fee | PKR 25,000 + FED |
| Eligibility Age | 21 to 57 years |
| Required Documents | CNIC, Proof of Business Premises |
| Application Portal | PITB Portal |
| Helpline | 1786 |
Conclusion
The Asaan Karobar Card is a significant initiative by the Government of Punjab to empower small and medium-sized enterprises through interest-free loans. By providing financial support with flexible repayment plans, the program aims to stimulate economic growth and foster entrepreneurship in the region.
Read More: Asaan Karobar Card: Common Application Errors
FAQs
How can I apply for the Asaan Karobar Card?
You can apply online via the official PITB portal. After filling out the application, you’ll need to pay a nominal processing fee of PKR 500, and your business will go through a digital verification process.
What is the loan amount offered by the Asaan Karobar Card?
The Asaan Karobar Card offers a loan amount of up to PKR 1 million.
Is there an interest rate for the Asaan Karobar Card?
No, the loan comes with a 0% interest rate.
What is the repayment schedule for the Asaan Karobar Card?
Repayment begins 3 months after the card is issued. You will be required to pay in equal monthly installments over 24 months, starting after the first year.
Can the funds from the Asaan Karobar Card be used for personal expenses?
No, the loan is strictly for business-related purposes only, such as purchasing goods, paying suppliers, or covering utility bills.