Punjab Asaan Karobar Card Scheme: For small entrepreneurs in Punjab looking to expand their ventures, the Asaan Karobar Card Scheme offers a lifeline of financial support—completely interest-free. With loans of up to PKR 1 million, this initiative empowers business owners to cover operational costs, pay suppliers, settle utility bills, and more—all through a seamless digital platform.
Why This Scheme Stands Out
Unlike traditional loans, the Asaan Karobar Card operates as a revolving credit facility, renewed annually, with a three-year repayment window. Here’s what makes it unique:
- Zero Interest: Borrowers pay 0% interest—a rare advantage in business financing.
- Flexible Repayment: After a 12-month grace period, repayments are split into 24 manageable monthly installments.
- Initial Breathing Room: No repayments are due for the first three months, giving businesses time to stabilize.
Where Can the Funds Be Used?
The loan is strictly for business growth, including:
✅ Supplier and vendor payments
✅ Utility bills, taxes, and government fees
✅ Cash withdrawals (up to 25% of the limit) for urgent needs
✅ Digital transactions via mobile apps and POS systems
Note: Personal expenses or non-business-related spending are not permitted.
Who Qualifies?
Eligibility is straightforward but firm:
- Applicants must be Pakistani citizens, aged 21–57, residing in Punjab.
- A valid CNIC, registered mobile number, and clean credit history are mandatory.
- Only one application per business or individual is allowed.
Applicants undergo psychometric and credit assessments to ensure responsible lending.
How to Apply
- Online Submission: Apply via the Punjab IT Board portal.
- Processing Fee: A nominal, non-refundable PKR 500 fee applies.
- Verification: CNIC, credit history, and business details are digitally verified.
Loan Disbursement & Repayment
- First 50%: Released upfront, usable within six months.
- Second 50%: Unlocked after six months, provided repayments are consistent and the business registers with PRA/FBR.
- Repayment Structure:
- First 3 months: No payments.
- After 3 months: Minimum 5% of the outstanding balance monthly.
- Final Phase: Remaining amount repaid over 24 months.
Fees & Penalties
- Annual Card Fee: PKR 25,000 + FED (deducted from the loan limit).
- Additional Coverage: Life insurance, card issuance, and delivery costs are included.
- Late Payments: Penalties apply per the bank’s policy—timely repayments are crucial.
Compliance & Monitoring
- Borrowers must sign a personal guarantee and maintain business-only spending.
- PRA/FBR registration is required within six months.
- Physical business verification occurs within six months, followed by annual check-ins.
Need Help?
- Feasibility Guidance: Resources available on PSIC and BOP websites.
- Helpline: Call 1786 for support.
Don’t Miss the Deadline!
The last date to apply is March 31, 2025. This is a golden opportunity for Punjab’s small businesses to thrive—without the burden of interest.
Ready to grow? Apply now and take your business forward!
Note: Terms and conditions apply. Always review official guidelines before applying.
