Bank of Punjab (BOP) Loan
Prime Minister of Pakistan Shahbaz Sharif has provided a loan from the Bank of Punjab as Punjab Rozgar Scheme. Under this scheme, the Government of Punjab has agreed with the Bank of Punjab (BOP) in which it has been stipulated that the Bank of Punjab will provide loans ranging from one Lakh to one Crore rupees to the poor people of Punjab under the Punjab Rozgar Scheme. The main feature of this loan is that you can easily repay it for 2-5 years, during this period you can also get a discount of 6 months.
For your further convenience, the method of applying to the Punjab Rozgar Scheme is being shared with you. Click on the link given below to visit our website and make the process of applying for the Punjab Rozgar Scheme easier. In this article, we will provide you with all the information about the loan provided by the Bank of Punjab so stay connected with the article and read the article completely.
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Main Theme to provide Bank of Punjab (BOP) Loan
The purpose of providing loans to the Bank of Punjab is that the people of Punjab can start their own small or big businesses under the Punjab Rozgar Scheme. In the development of any country, its economy plays a crucial role. On this basis, the Chief Minister of Punjab has entered into an agreement with the Bank of Punjab under the name of Punjab Rozgar Scheme. If you are also facing any problem in running your own business then you can get a loan from the Bank of Punjab under the Punjab Rozgar Scheme.
Who is Eligible for Bank of Punjab Loan?
To get a loan from the Bank of Punjab, you have to fulfill the criteria given by the Bank of Punjab. Only those people who fulfill this criterion will be able to get a loan through the Bank of Punjab.
Also, Read PM Shahbaz Sharif Started Punjab Rozgar Scheme
If you also consider yourself eligible to get this loan, then the criteria are given below:
- You must be a permanent resident of Punjab province.
- You should be between 20 to 50 years of age.
- Male, Female, and Transgender trio are eligible for this program.
- To get a loan from the Bank of Punjab you must be a graduate of a university or college.
- You are a skilled worker.
- You have obtained a technical diploma or technical training certificate.
- You have never traveled abroad.
- You must have a CNIC approved by the Government of Pakistan.
- You should not have more than two acres of land in your name.
- You are not a government employee.
- You are not getting benefits from any other scheme of the Punjab Government.
Bank of Punjab (BOP) Loan Information
- You can run your New and Existing Businesses through the Punjab Rozgar Scheme.
- Through this loan, you will be provided with a Clean Loan of One Lakh to One Million, while a Secured Loan of One Million to One Crore will be provided.
- You can repay this loan in 2-5 years. You are provided with the facility to extend this period by 6 months.
- The loan provided by the Bank of Punjab is a Term Loan.
- The Debt. Equity Ratio of the loan provided by the Bank of Punjab is for males 80:20 while for females, transgender, and disabled persons the ratio is 90:10.
- All applications will be submitted through the online Punjab Small Industries Corporation (PSIC) portal.
- While applying you will also have to deposit a processing fee of Rs.2,000 which is refundable.
- This scheme provided by the Bank of Punjab is for all Sectors.
- Customer Pricing in a Clean Loan is 4% while Customer Pricing in a Secured Loan is 5%.
Security Requirement to Get a Bank of Punjab (BOP) Loan
- If you borrow up to 5 Lakhs, you must have a borrower’s self-guarantee along with a statement of net worth.
- If you get a loan of Rs 5 Lakh to Rs 10 Lakh, you must meet the following criteria:
- Borrower’s guarantee as well as a third party guarantee whose net worth is at least equal to the loan amount.
- Apart from this, a government servant guarantee of BPS-10 or above is required.
- Net worth property can be a vehicle, ownership, or any other form.
- The property can be valued at a DC rate through the bank.
- The value of the property may be determined using a Wealth Tax statement.
- Analysis certified by Pakistan Banks Association (PBA).
- Depreciation shall be less than the cost of the vehicle and 10% for each passing year.
- The third party should be a citizen of Pakistan.
- Residents of Punjab must have a CNIC.
- The age should not be more than 55 years.
- e-CIB should be clear with no overdue or write-off history.
- Residential, Commercial, Industrial Property, and Vehicle Mortgages with clear titles and clear access are acceptable to the bank for loans between 10 Lakhs to 1 Crore.
How to Apply for a Bank of Punjab (BOP) Loan?
If you want to apply to the Punjab Rozgar Scheme, the procedure is very easy. You can process your application by visiting the official website of PSIC in Punjab Rozgar Scheme or by visiting any nearby Bank of Punjab branch.
Also Read Get Loan At 0% Markup Through Punjab Rozgar Scheme 2024
Procedure to Apply for the Punjab Rozgar Scheme through the PSIC Official Website
- First, visit the official website of PSIC.
- After that create your new account by entering your CNIC, phone number, and password after that log in to the account.
- After logging into the account, click on the “New Application” button.
- Provide your Password Size Photo, Front Side of CNIC, Back Side of CNIC, Educational Degree, Skill Degree, Copy of Security Documents, Copy of Bills, Bank Statements, Name of Third Parties, Phone Number, CNI C, and provide other details.
- After that submit the form and your application will be registered successfully.
Procedure to Apply for the Punjab Rozgar Scheme through the Bank of Punjab (BOP)
- Visit any nearby Bank of Punjab to avail the Punjab Rozgar Scheme.
- There you will provide a form.
- Provide your details like Name, Surname, CNIC, Third Party Name, Sir Name, Phone Number, ID Card Number, Signatures, etc. in this form.
- After that, you have to submit some of your documents like copies of your bills, bank statements, educational degrees, skills degree, copy of security documents, copy of ID cards, etc.
- After providing all these documents you will be successfully registered in Punjab Rozgar Scheme.
Conclusion
If you want to avail Punjab Rozgar Scheme through the Bank of Punjab then you have to provide some of your information like name, surname, CNIC, third-party information, etc. Apart from this, you have to provide some of your documents like your CNIC bank statement, educational degree, skilled degree, security documents, bill copy, etc. After providing all this information you will be successfully registered in the Punjab Rozgar Scheme.
Also, Read PM Youth Loan Scheme 2024 Application New Update
Frequently Ask Questions (FAQs)
How can I apply for the Punjab Rozgar Scheme?
You can apply for the Punjab Rozgar Scheme through the Bank of Punjab or the PSIC official website.
How much loan does the Bank of Punjab provide?
Bank of Punjab provides loans from Rs 1 lakh to Rs 1 crore.
How long can I take a Bank of Punjab loan?
You can repay the Bank of Punjab loan within a period of two to five years and you can get a grace period of 6 more months.
What is the age limit for availing loan through the Bank of Punjab in the Punjab Rozgar Scheme?
You should be between 20 to 50 years of age to avail Bank of Punjab loan.
Punjab Rozgar Scheme helpline
If you are facing any kind of problem in getting a Punjab Rozgar Scheme loan from the Bank of Punjab, then please contact with the given details:
Helpline
042-99203731