The CM Punjab Asaan Karobar Card is a significant initiative by the Government of Punjab aimed at empowering small entrepreneurs by providing interest-free loans of up to PKR 1 million. This program facilitates business growth and sustainability through a digital SME card, ensuring transparent and structured fund utilization.
Table of Contents
Key Features of the Asaan Karobar Card
- Loan Amount: Up to PKR 1 million
- Loan Tenure: 3 years
- Revolving Credit Facility: 12 months
- Repayment Term: 24 equal monthly installments, commencing after the first year
- Grace Period: 3 months from card issuance
- Interest Rate: 0%
Read More: Check Your Asaan Karobar Loan Account Details
Eligibility Criteria for the Asaan Karobar Card
To be eligible for the Asaan Karobar Card, applicants must meet the following criteria:
- Residency: Must be a Pakistani national residing in Punjab
- Age: Between 21 to 57 years
- Identification: Possess a valid CNIC and a mobile number registered in their name
- Business Location: Existing or prospective business must be located in Punjab
- Credit History: Should have a clean credit history with no overdue loans
- Assessment: Must pass a satisfactory credit and psychometric assessment
- Application Limit: Only one application per individual and business
Read More: Check Your Application Status in the Asaan Karobar
CM Punjab Asaan Karobar Card Application Process
Follow these steps to apply for the Asaan Karobar Card:
- Online Registration:
- Visit the official Asaan Karobar portal at https://akc.punjab.gov.pk/.
- Register using a mobile number that is registered in your name.
- Complete the Application Form:
- Provide accurate personal and business information as required.
- Ensure all mandatory fields are filled correctly.
- Upload Required Documents:
- Passport-size photograph or a clear selfie
- Scanned copies of the front and back of your CNIC
- Details of two non-relative references, including their CNIC copies and mobile numbers
- Proof of business premises (e.g., rent agreement, transfer letter, or registry document)
- Business income and expense details
- Pay the Processing Fee:
- A non-refundable processing fee of PKR 500 is required.
- Payment can be made through the options provided on the portal.
- Submit the Application:
- Review all entered information and uploaded documents.
- Submit the application through the portal.
- Application Confirmation:
- Upon successful submission, an application registration number will be displayed and sent via SMS.
- Use this number to track your application status on the portal.
Read More: Application Status in the Asaan Karobar Finance
Asaan Karobar Card Loan Utilization and Repayment
- First 50% of Limit: Available for use within the first 6 months
- Grace Period: 3 months after card issuance
- Repayment:
- Begins after the 3-month grace period
- Minimum monthly payment of 5% of the outstanding loan balance
- Second 50% of Limit: Released upon satisfactory usage, regular repayments, and registration with PRA/FBR
Asaan Karobar Card Charges and Fees
- Annual Card Fee: PKR 25,000 + FED, deducted from the approved limit
- Additional Charges: Includes life assurance, card issuance, and delivery charges
- Late Payment Charges: Applicable as per the bank’s policy/schedule of charges
Required Documents for the Asaan Karobar Card
- Passport-size photograph or selfie
- Scanned copies of the front and back of your CNIC
- Mobile number registered in your name
- Details of two non-relative references
- Proof of business premises
- Business income and expense details
Conclusion
The CM Punjab Asaan Karobar Card is a commendable initiative aimed at fostering the growth of small businesses in Punjab. By providing interest-free loans with a straightforward application process, the program empowers entrepreneurs to expand their ventures, contributing to the economic development of the region. Eligible individuals are encouraged to take advantage of this opportunity to enhance their business operations.
Read More: Asaan Karobar Loan Processing Status
FAQs
Who is eligible to apply for the Asaan Karobar Card?
Small entrepreneurs aged between 21 to 57 years, residing in Punjab with a valid CNIC and a registered mobile number, are eligible to apply.
What is the maximum loan amount available?
The maximum loan amount is PKR 1 million.
Is there any interest on the loan?
No, the loan is interest-free.
How can I use the loan amount?
The loan can be used for vendor and supplier payments, utility bills, government fees, taxes, and cash withdrawals (up to 25% of the limit) for miscellaneous business purposes.
What is the repayment period?
The repayment period is 24 equal monthly installments, starting after a 3-month grace period from card issuance.