Asaan Karobar Card
Under the Asaan Karobar Card Scheme, you will be given an interest-free loan of up to Rs 1 million and this loan will be given to you under the Digital SME Card. The purpose of starting it was to provide loans to start or expand your business and this will also increase employment in Punjab. Under this program, an interest-free loan of up to Rs 1 million will be given, which you have to repay within three years. You will be able to use the loan amount for 12 months.
After that, after the first year, you will repay your loan amount in 24 months. In addition, let me also tell you that for three months you do not have to pay any amount and there is no tax on it. You will be able to get an interest-free loan. In addition, you will be able to withdraw 25% of the amount. The remaining amount will be able to be used for any loan or other amount through the mobile app. Small business people will be eligible for this program. They should be between 21 and 57 years of age.
They should have a Pakistan National Identity Card and They belong to the province of Punjab. Only one person can apply for a loan for their business. The registration procedure is also very easy. You have to open the official website of akc.punjab.gov.pk After that, you have to apply. Read the article to make this article. The purpose of this article was to inform you about all the information about the Karobar card, how to register for a business card, and who is eligible and who is not, you have to read this article carefully so that you can get all the information easily
Asaan Karobar Card Overview
You can use 50 percent of the loan amount in the first six months and you do not have to pay any amount for three months after the card is issued, while the remaining 50 percent will be given considering your loan payment history and registration. After the card is issued, an annual fee of Rs. 25,000 plus tax will be charged to the card. In addition, under this scheme, your life insurance card issue and delivery charges will be paid under the scheme.
You will be able to withdraw your money under the Bank of Punjab. In addition, let us tell you that whether you have an NTN number or not, you can apply for an easy business card. You also have to enter the information of the grantor and if you want to do business in partnership, then you have to enter all the information of your partner.
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Key Features of the Asaan Karobar Card
1. Loan Amount and Repayment Terms
Under the Asaan Karobar Card scheme, you can get an interest-free loan of up to Rs. 1 million. This loan can be used for starting a new business or expanding your existing one. The terms of the loan are designed to be flexible and manageable for small business owners:
- Loan Repayment: You have 3 years to repay the loan. The first year is interest-free, which gives you time to grow your business before you start paying.
- After the first year, you will have to repay the remaining loan amount over 24 months.
- The best part? You do not need to pay anything for the first 3 months after the card is issued. This gives you a comfortable grace period to get your business running.
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2. Loan Usage and Withdrawal
The loan you receive through the Asaan Karobar Card comes with some flexibility:
- You can use up to 25% of the loan amount as a withdrawal for immediate business needs.
- The remaining loan amount can be accessed via a mobile app, which makes it easy to manage your funds for your business needs.
- The loan is designed to help you in business expansion, purchase equipment, or even manage daily operations. It is a versatile financial tool to help you grow your business
Eligibility Criteria for the Asaan Karobar Card
Before you apply, you need to ensure you meet the eligibility criteria. Here is what you need to qualify for the Asaan Karobar Card:
- You must be between 21 and 57 years old to apply.
- You should have a valid Pakistan National Identity Card.
- Only residents of Punjab are eligible for this scheme.
- The loan is designed for small business owners. You must be the sole applicant, or if applying for a partnership business, you must provide details of your partner.
- Only one person can apply for a loan for their business, so if you are running a business with others, you will need to apply individually.
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Loan Usage and Withdrawal Details
- In the first six months, the applicant can use 50% of the loan amount.
- The remaining 50% will be granted based on the loan repayment history.
- The first three months after receiving the loan are payment-free.
- 25% of the loan can be withdrawn directly, while the rest is accessible through a mobile app.
- The loan is provided through the Bank of Punjab
How to Apply for the Asaan Karobar Card
Applying for the Asaan Karobar Card is straightforward and can be done online. Here is how you can get started:
Step 1: Visit the Official Website
First, you need to go to the official website: akc.punjab.gov.pk. This is where you will begin the application process.
Step 2: Create an Account
If you are a new user, you will need to sign up and create an account on the website. If you are already registered, simply log in using your username and password.
Step 3: Fill in the Required Information
You will be asked to enter your personal information, National Identity Card details, and information about your business. If you are applying with a partner, you will need to include your partner’s information as well.
Step 4: Submit the Application
Once you have filled in all the necessary details, click on submit. After your application is submitted, it will be processed, and you will be notified about the next steps
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Loan Disbursement and How You Can Use the Funds
Once your application is approved, you will receive the loan in a digital format, accessible through the Digital SME Card. Here is what you need to know about how the funds will be disbursed and used:
- 50% of the loan will be available to you within the first 6 months of the loan’s approval.
- The remaining 50% will be given to you based on your loan payment history and registration status.
- You will be able to use the funds directly through the mobile app for business needs, making it super convenient to manage
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Fees and Additional Benefits
- Annual Fee: Rs. 25,000 + tax will be charged after the card is issued.
- Life Insurance Coverage: The scheme includes life insurance for the cardholder.
- Card Issuance and Delivery Charges: These are covered under the scheme.
- No NTN Number Required: Applicants can apply even if they do not have an NTN number
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Conclusion
The Asaan Karobar Card is a fantastic opportunity for small business owners in Punjab to access the funds they need to grow or start their businesses. With an interest-free loan of up to Rs. 1 million, flexible repayment terms, and easy access to funds through a mobile app, this scheme is designed to empower entrepreneurs and help them succeed.
If you meet the eligibility criteria, the application process is simple and can be completed online. So, do not miss out on this opportunity to take your business to the next level. Visit the official website today to apply for your Asaan Karobar Card and get started on your journey to business success