The Punjab Rozgar Scheme is an initiative launched by the Government of Punjab to support small and medium-sized businesses in the province. These businesses are essential to the country’s economy but often face challenges in accessing financial resources. To help boost this important sector, the Punjab Small Industries Corporation (PSIC), in collaboration with The Bank of Punjab, has introduced the Punjab Rozgar Scheme. This scheme offers subsidized loans ranging from Rs. 100,000 to Rs. 10,000,000 to individuals and businesses in need of financial assistance.
| Feature | Details |
| Loan Amount | Rs. 100,000 to Rs. 10,000,000 |
| Eligibility | Open for both new and existing businesses |
| Loan Type | Term loan with a 6-month grace period |
| Interest Rate | 4% for clean loans, 5% for secured loans |
What is the Punjab Rozgar Scheme?
The Punjab Rozgar Scheme is designed to provide financial assistance to entrepreneurs and business owners in Punjab who face difficulties in obtaining funds. The scheme offers loans between Rs. 100,000 and Rs. 10,000,000 to help both new and existing businesses grow and expand. These loans can be used for various business needs, such as purchasing equipment, expanding operations, or setting up a new business. By offering subsidized loans, the scheme aims to reduce the financial challenges faced by small and medium-sized businesses in the region.
Eligibility Criteria for Punjab Rozgar Scheme
To be eligible for the Punjab Rozgar Scheme, applicants must meet specific criteria. The age of the applicant should be between 20 to 50 years. The scheme is open to males, females, and transgender individuals. Additionally, applicants must be university or college graduates with entrepreneurial skills, or hold a diploma/certificate in technical or vocational training from TVET. Artisans and skilled workers can also apply. The applicant must be a resident of Punjab and must have a valid CNIC. This scheme supports both new and existing businesses, providing opportunities for entrepreneurs at all stages of their business journey.
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Loan Amount and Loan Terms
The Punjab Rozgar Scheme offers both clean and secured loans. Clean loans are available for amounts up to Rs. 1,000,000, while secured loans range from Rs. 1,000,000 to Rs. 10,000,000. For clean loans, applicants must provide a personal guarantee along with a net worth statement. For loans above Rs. 500,000, a third-party guarantee is also required, or a government employee with a BPS-10 grade or higher can act as a guarantor. The loan repayment tenure ranges from 2 to 5 years, with a 6-month grace period for the repayment of principal amounts.
Loan Interest Rates and Security Requirements
- Clean loans: 4% interest rate
- Secured loans: 5% interest rate
- Loans up to Rs. 1,000,000: Personal guarantee required
- Loans above Rs. 1,000,000: Additional guarantees needed (third-party or government employee)
- Collateral for loans above Rs. 1,000,000: Residential, commercial, industrial, or agricultural property, or a vehicle with clear title and ownership
How to Apply for the Punjab Rozgar Scheme
Applying for the Punjab Rozgar Scheme is easy and can be done entirely online. Interested applicants can submit their applications through the official PSIC portal. The online application process is simple and involves filling out a basic form with personal details, business information, and the loan amount required. Applicants will also need to upload supporting documents, such as their CNIC, business plan, and financial statements. After submitting the application, the bank will review it and notify the applicant about the approval status.
Conclusion
In this article, we are sharing all the details about the Punjab Rozgar Scheme, which offers subsidized loans ranging from Rs. 100,000 to Rs. 10,000,000. The scheme is designed to assist entrepreneurs and small business owners in Punjab who face financial difficulties. With the support of the Punjab Small Industries Corporation and The Bank of Punjab, the scheme provides an opportunity for business growth. The easy online application process, competitive interest rates, and flexible repayment terms make this a valuable program for those looking to expand their businesses.
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 FAQs
What is the maximum loan amount under the Punjab Rozgar Scheme?
The maximum loan amount offered under the Punjab Rozgar Scheme is Rs. 10,000,000.
Who is eligible to apply for the Punjab Rozgar Scheme?
Applicants must be residents of Punjab, aged between 20 to 50 years, and have entrepreneurial skills. University graduates, diploma holders, artisans, and skilled workers can apply.
How long do I have to repay the loan?
The loan repayment tenure is between 2 to 5 years, with a 6-month grace period for principal repayment.
What kind of security is required for loans above Rs. 1,000,000?
For loans above Rs. 1,000,000, collateral in the form of residential, commercial, industrial, or agricultural property or a vehicle is required.