The Asaan Karobar Card is an initiative introduced by CM Punjab, Maryam Nawaz. This scheme offers interest-free loans of up to 1 million PKR through a digital SME Card. Its primary goal is to assist small entrepreneurs in expanding and sustaining their businesses. To ensure transparent fund utilization, the scheme will be managed through digital platforms such as mobile apps and POS systems.

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Key Features of Asaan Karobar Card

1. Maximum Amount: 1 Million PKR
2. Loan Duration: 3 Years
3. Interest Rate: 0% (Interest-Free)
4. Loan Type: Revolving Credit Facility for 12 months
5. Repayment Terms: 24 equal monthly installments, starting after the first year
6. Grace Period: Repayment begins 3 months after issuance

Usage

1. Vendor and Supplier payments.
2. Utility bills, Government Fees, and Taxes.
3. Digital Transactions (POS and Mobile App).
4. Cash Withdrawals (up to 25% of the limit) for miscellaneous business purposes.
5. Eligibility Criteria for Asaan K

Eligibility Criteria for Asaan Karobar Card

1. Age Requirement: 21 to 57 years
2. Residency: Must be a resident of Punjab
3. Nationality: Must be a Pakistani citizen
4. Target Beneficiaries: Small entrepreneurs in Punjab
5. Identification: Must possess a valid CNIC
6. Mobile Registration: Applicant must have a registered mobile number in their name
7. Business Criteria: Should have an existing or planned business within Punjab
8. Credit History: Must have a clean credit record with no overdue loans
9. Assessment: Must meet satisfactory credit and psychometric evaluation criteria

Note: Only one application is allowed per individual and business.

How to Apply for Asaan Karobar Card

Click on the Apply button above or visit the PITB portal.

Carefully read the instructions and ensure all requirements are met before proceeding with the application.

Click the “Acknowledge & Proceed” button at the end to continue.

Provide the necessary applicant details and click “Register.”

Log in using your registered credentials, then enter the remaining Personal, Business, and Loan details.

Finally, upload the necessary documents and click “Submit” to finalize your application.

Note: Ensure you click “Save” and “Next” after filling in each section.

Important Guidelines

• Applications must be submitted digitally.
• Processing Fee: PKR 500 (Non-refundable).
• Authorized agencies will conduct digital verification of CNIC, creditworthiness, and business premises.

Loan Usage & Repayment Details

Loan Utilization & Repayment Terms

• Initial 50% Limit: Available for use within the first 6 months.
• Grace Period: 3 months after card issuance.
• Repayment Start: After 3 months, the borrower must begin monthly installments, with a minimum payment of 5% of the outstanding principal balance per month.
• Remaining 50% Limit: Released upon satisfactory usage, regular repayments, and registration with PRA/FBR.
• Usage Restriction: Funds must be used strictly for business purposes.
• Prohibited Transactions: Non-essential expenses, such as personal consumption and entertainment, are not allowed and will be blocked.
• Final Repayment: Any remaining balance after the first year will be repaid over 2 years in Equal Monthly Installments (EMIs).

Charges & Fees

Card Fees & Charges

• Annual Card Fee: PKR 25,000 + FED, deducted from the sanctioned limit.
• Additional Charges: Life assurance, card issuance, and delivery fees will be covered by the scheme.
• Late Payment Charges: Applicable as per the bank’s policy and schedule of charges in case of delayed installment payments.

Security Details

• Personal Guarantee: Digitally signed by the borrower.
• Life Assurance: Included in the portfolio.
• Business Verification: Conducted by Urban Unit within 6 months of loan approval and annually thereafter.

Helpline Number

Frequently Asked Questions

Eligibility Requirements for CM Punjab Karobar Card

What are the criteria to apply for the CM Punjab Karobar Card?

Eligibility Criteria for Asaan Karobar Scheme

• To apply for the Asaan Karobar Scheme, you must meet the following requirements:
• Age: 21 to 57 years
• Nationality & Residency: Pakistani citizen residing in Punjab
• Identification: Must possess a valid CNIC
• Mobile Registration: Applicant must have a registered mobile number in their name
• Business Requirement: Must have an existing business in Punjab
• Credit History: Should have a clean credit record
• Assessment: Must pass a satisfactory credit and psychometric evaluation

Karobar Card Amount Limit

The minimum amount limit for the Karobar Card is 1 million PKR (10 lacs). This loan is interest-free and has a tenure of three years.

Grace Period for CM Punjab Karobar Card

The grace period is 3 months from the date of card issuance. After this period, the borrower must begin monthly installments, with a minimum payment of 5% of the outstanding loan balance.

Conclusion

The Asaan Karobar Card was recently launched by the CM of Punjab, Pakistan to support young entrepreneurs in establishing and sustaining their businesses across the province. The scheme offers interest-free loans of up to 1 million PKR with a tenure of 3 years. Applicants must meet specific eligibility criteria, as outlined above, to qualify for the program.