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    PakWheeler Ishtiaq778's Avatar
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    Default Prime Minister Youth Loan Scheme

    Assalam o Alaikum
    Today I visited SMEDA website to get loan details and facts, what I found want to share with you. If I am wrong please guide and correct me??..
    As per Loan Repayment template if someone get loan of 2000000 (20 Lac), he has to return
    Rs. 2,778,484 means Rs. 778,484 extra. This extra payment is 38.9% or 39% of the loan amount.
    Monthly installment is approximately Rs: 31000 to Rs: 32000.
    Honesty is not a Spare Wheel that you pull out when in trouble. It's a Steering Wheel that keeps you on the right path throughout the life's journey.

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    Senior PakWheeler qwertypoiu's Avatar
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    Net worth not account balance
    RIP

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    PakWheeler Ishtiaq778's Avatar
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    What are the salient features of PM’s Youth Business Loan?
    a) Loan up to Rs. 2 Million (Rs. 0.1 Million – Rs. 2.0 Million)
    b) Only 8% markup per annum
    c) Repayment of loans in eight years, with grace period of one year included in the total tenure
    d) One personal guarantee required - No other security
    e) 90% Bank Loan and 10% Equity to be contributed by the Applicant. Your contribution could be in the form of cash or immoveable property and will be required after the approval of loan
    f) 50% quota for women, 5% quota for Dependents of Shaheeds, Widows and Disabled
    g) Total No. of loans to be given are 100,000 for Year 2013-14


    8% Mark up
    100000 ( 1 Lac) pe 8000/year........duration 8 years (8 * 8000)= 64000
    Means 64000 Rs more to be returned in form of SOOD???? am i right?????
    Honesty is not a Spare Wheel that you pull out when in trouble. It's a Steering Wheel that keeps you on the right path throughout the life's journey.

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    PakWheeler Ishtiaq778's Avatar
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    90% Bank Loan and 10% Equity to be contributed by the Applicant. Your contribution could be in the form of cash or immoveable property and will be required after the approval of loan

    couldn't understand this poiont...........Can any body explain ........10% equity contribution??/
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    PakWheeler chdemon's Avatar
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    is it per annum because bank ask for interest on monthly basis. so how could both be same ? per annum and per month ?
    immature behaviour / rules leads to an empty forum.

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    Thank you very much.
    My engine history; CB70 -> 4EFTE -> D15B VTEC -> D16Y6 VTEC -> 1JZ-GTE

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    PakWheeler bigmaster's Avatar
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    Quote Originally Posted by Ishtiaq778 View Post
    What are the salient features of PM’s Youth Business Loan?
    a) Loan up to Rs. 2 Million (Rs. 0.1 Million – Rs. 2.0 Million)
    b) Only 8% markup per annum
    c) Repayment of loans in eight years, with grace period of one year included in the total tenure
    d) One personal guarantee required - No other security
    e) 90% Bank Loan and 10% Equity to be contributed by the Applicant. Your contribution could be in the form of cash or immoveable property and will be required after the approval of loan
    f) 50% quota for women, 5% quota for Dependents of Shaheeds, Widows and Disabled
    g) Total No. of loans to be given are 100,000 for Year 2013-14


    8% Mark up
    100000 ( 1 Lac) pe 8000/year........duration 8 years (8 * 8000)= 64000
    Means 64000 Rs more to be returned in form of SOOD???? am i right?????
    its a bit more complex than that.

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    Senior PakWheeler lahori1990's Avatar
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    A lot of youngsters are going to take advantage. Most of you aren't thinking outside the box. Think about those young men and women who work long hours for someone else and desperately need a head start to start their own business/work because they have gained enough experience to do so. Those people will definitely take an advantage of this new scheme while a lot of you will only be criticizing behind your computer screen. A lot of you are acting like "keyboard accountants" as if you know everything. Obviously, when you start a business, you need to take certain risks and thats what makes makes you grow up and turns you into a man from a boy. If you work for someone all your life, youll always be his boy, but if you decide to stand on your own feet, you'll become a man. There are thousands of people who have enough knowledge and expertise to start their own business, they just need some money. A lot of people can open up their own repairshops, buy their own van, rickshaw, convert their 5 marla single story house to double story house for rent. There are endless opportunities. The problem with most of you guys is that your brains are infested with politics and you cant seem to see anything beyond that. People who work in the ministry of finance aren't stupid, they are highly educated people who know whats good and whats bad for the country. Lets just have some faith because this is the least you can do for your country.

    Think of a man in his 30s who has been working at a motorcycle repair shop since the age of 10. That man is now a grown up adult and desperately wants to get out because he has a family to feed, he has gained enough knowledge and expertise but the only problem is, he doesnt have enough money to open up his own repair shop. That man is obviously going to look into the PM youth scheme to see if he is eligible. If he somehow gets the 20 lacs or even less, he can buy his own tools, a small place to open up his own repair shop and than he can hire couple of 15 year old boys who can help him out.

    But unfortunately, you guys are stuck on the interest part. Grow up and use your brain for once.
    hash4u and Naveed4speed like this.

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    PakWheeler nabeel112's Avatar
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    Quote Originally Posted by lahori1990 View Post
    A lot of youngsters are going to take advantage. Most of you aren't thinking outside the box. Think about those young men and women who work long hours for someone else and desperately need a head start to start their own business/work because they have gained enough experience to do so. Those people will definitely take an advantage of this new scheme while a lot of you will only be criticizing behind your computer screen. A lot of you are acting like "keyboard accountants" as if you know everything. Obviously, when you start a business, you need to take certain risks and thats what makes makes you grow up and turns you into a man from a boy. If you work for someone all your life, youll always be his boy, but if you decide to stand on your own feet, you'll become a man. There are thousands of people who have enough knowledge and expertise to start their own business, they just need some money. A lot of people can open up their own repairshops, buy their own van, rickshaw, convert their 5 marla single story house to double story house for rent. There are endless opportunities. The problem with most of you guys is that your brains are infested with politics and you cant seem to see anything beyond that. People who work in the ministry of finance aren't stupid, they are highly educated people who know whats good and whats bad for the country. Lets just have some faith because this is the least you can do for your country.

    Think of a man in his 30s who has been working at a motorcycle repair shop since the age of 10. That man is now a grown up adult and desperately wants to get out because he has a family to feed, he has gained enough knowledge and expertise but the only problem is, he doesnt have enough money to open up his own repair shop. That man is obviously going to look into the PM youth scheme to see if he is eligible. If he somehow gets the 20 lacs or even less, he can buy his own tools, a small place to open up his own repair shop and than he can hire couple of 15 year old boys who can help him out.

    But unfortunately, you guys are stuck on the interest part. Grow up and use your brain for once.
    well to me interest payment isnt a big deal. banks are charging more than 25% interest on 20 lac loan. But finding a govt employ who gives guarantee will be difficult for a motorcycle mechanic. I dont think so any govt employee will be willing to take such a big risk. if that motorcycle mechanic defaults, govt employee will pay all the debt.

    GUARANTEE THING IS THE BIGGEST ISSUE. Interest payment is a small issue.
    john2 likes this.

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    1-ager business mian loss hogya?
    2-poultry farm main bird flue aa gaya?
    3-mobile/electric shop main chori hogai?
    4-koi mashen jal gai ya aag lag gai?
    5-dukan ya karobar na chala to (32000+dukan rent+bills/per month kahan say pay hon ***?
    6-van ya rikshy ki to bat hi na kro jin k pas hen wo b nai chala rahy q-k no cng or petrol ka kraya dany ki awam main himat nai?
    7-industry gas sy chalti hai or gas ki sply industry ko bnd hai,?
    don't mis guide ppl its not so much easy as u said ,,,,, loan kbi right-off nai hoga ye ap k or ap k granter k kapry b utrwa k bach dain ***?? ,,,,,,,,,,,,,, else big flop..........
    Quote Originally Posted by lahori1990 View Post
    A lot of youngsters are going to take advantage. Most of you aren't thinking outside the box. Think about those young men and women who work long hours for someone else and desperately need a head start to start their own business/work because they have gained enough experience to do so. Those people will definitely take an advantage of this new scheme while a lot of you will only be criticizing behind your computer screen. A lot of you are acting like "keyboard accountants" as if you know everything. Obviously, when you start a business, you need to take certain risks and thats what makes makes you grow up and turns you into a man from a boy. If you work for someone all your life, youll always be his boy, but if you decide to stand on your own feet, you'll become a man. There are thousands of people who have enough knowledge and expertise to start their own business, they just need some money. A lot of people can open up their own repairshops, buy their own van, rickshaw, convert their 5 marla single story house to double story house for rent. There are endless opportunities. The problem with most of you guys is that your brains are infested with politics and you cant seem to see anything beyond that. People who work in the ministry of finance aren't stupid, they are highly educated people who know whats good and whats bad for the country. Lets just have some faith because this is the least you can do for your country.

    Think of a man in his 30s who has been working at a motorcycle repair shop since the age of 10. That man is now a grown up adult and desperately wants to get out because he has a family to feed, he has gained enough knowledge and expertise but the only problem is, he doesnt have enough money to open up his own repair shop. That man is obviously going to look into the PM youth scheme to see if he is eligible. If he somehow gets the 20 lacs or even less, he can buy his own tools, a small place to open up his own repair shop and than he can hire couple of 15 year old boys who can help him out.

    But unfortunately, you guys are stuck on the interest part. Grow up and use your brain for once.
    amm, john2 and uk4455 like this.

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    Senior PakWheeler lahori1990's Avatar
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    Quote Originally Posted by asim0072 View Post
    1-ager business mian loss hogya?
    2-poultry farm main bird flue aa gaya?
    3-mobile/electric shop main chori hogai?
    4-koi mashen jal gai ya aag lag gai?
    5-dukan ya karobar na chala to (32000+dukan rent+bills/per month kahan say pay hon ***?
    6-van ya rikshy ki to bat hi na kro jin k pas hen wo b nai chala rahy q-k no cng or petrol ka kraya dany ki awam main himat nai?
    7-industry gas sy chalti hai or gas ki sply industry ko bnd hai,?
    don't mis guide ppl its not so much easy as u said ,,,,, loan kbi right-off nai hoga ye ap k or ap k granter k kapry b utrwa k bach dain ***?? ,,,,,,,,,,,,,, else big flop..........
    Oh bhaii, if everyone starts thinking like you, than the whole world will go back into stone age. Fortunately, a lot of people arent like you. I bet you sleep in a 10 foot thick bunker just so you dont get bite by a mosquito.

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    but u cant able to answer my all 7 questions ???????
    Quote Originally Posted by lahori1990 View Post
    Oh bhaii, if everyone starts thinking like you, than the whole world will go back into stone age. Fortunately, a lot of people arent like you. I bet you sleep in a 10 foot thick bunker just so you dont get bite by a mosquito.
    amm likes this.

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    Quote Originally Posted by asim0072 View Post
    1-ager business mian loss hogya?
    2-poultry farm main bird flue aa gaya?
    3-mobile/electric shop main chori hogai?
    4-koi mashen jal gai ya aag lag gai?
    5-dukan ya karobar na chala to (32000+dukan rent+bills/per month kahan say pay hon ***?
    6-van ya rikshy ki to bat hi na kro jin k pas hen wo b nai chala rahy q-k no cng or petrol ka kraya dany ki awam main himat nai?
    7-industry gas sy chalti hai or gas ki sply industry ko bnd hai,?
    don't mis guide ppl its not so much easy as u said ,,,,, loan kbi right-off nai hoga ye ap k or ap k granter k kapry b utrwa k bach dain ***?? ,,,,,,,,,,,,,, else big flop..........
    Asif business is all about risk. I've gone through pre-feasibility reports by SMEDA for this loan program. They are extremely misleading and no one should rely on SMEDA at the moment. loan kabhi right off nhi hoga. govt servant mara jayay ga bas
    john2 likes this.

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    is se b imp ye hai k ak welding wala, ak kasab, ak moter macanic GOVT granter kahan se laye ga or yahi 3 4 fields hen jo business chala sakty hen or loan wapis kr sakty hen,or jin k pass 30 lakh balance or BPS15+ wala grenter hoga unhen loan ki zarorat nai hogi ,,,,,,,,,
    Quote Originally Posted by nabeel112 View Post
    Asif business is all about risk. I've gone through pre-feasibility reports by SMEDA for this loan program. They are extremely misleading and no one should rely on SMEDA at the moment. loan kabhi right off nhi hoga. govt servant mara jayay ga bas

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    Quote Originally Posted by qwertypoiu View Post
    On paper its a great scheme, If followed correctly many people will benefit.
    sure it will benefit many. but at what cost sir, at what cost? If i get 2 million pkr or even 2 lakh rs loan, someone somewhere in lower punjab or balochistan wud be denied education or basic healthcare facility. only then can i get the amount of loan. since there is no 'extra' fund for anything. i truly do not buy the idea of this loan, laptops, taxi cars, metro buses or the dubai-styled constructions in lahore. to me, these are advertisements targeted at a certain audience, nothing more.

    such projects can only be justified when the last patient in the hospital in a small village gets his medicine and when all or atleast most of the children are going to school. Like i said, we have to get our priorities straight. u dont buy a bmw if u have a loan outstanding on ur house or get the latest smartfone worth 60k even if u dont even have a bike to ride...
    When the power of love exceeds the love for power, the world will finally know peace=Every man is guilty of all the good he didn't do

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    According to Geo News terms of the loan are very retarded.
    Even if you are on the right track, you will get run over if you just sit there.

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    PakWheeler Ishtiaq778's Avatar
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    UPS and Stabilizer assembling UNIT. Is five months business, MARCH, APRIL,MAY,JUNE & JULY…. Rest of the seven months, its impossible even to sell a single UNIT of UPS and Stabilizer…… If someone start this business and get loan of 20 LAC……. He has to return 35000 to 40000Rs per Month as loan installment……. In 5 months of year, he can pay this installment…….. what about the other 7 Months?????
    Honesty is not a Spare Wheel that you pull out when in trouble. It's a Steering Wheel that keeps you on the right path throughout the life's journey.

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    PakWheeler Ishtiaq778's Avatar
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    Quote Originally Posted by asim0072 View Post
    is se b imp ye hai k ak welding wala, ak kasab, ak moter macanic GOVT granter kahan se laye ga or yahi 3 4 fields hen jo business chala sakty hen or loan wapis kr sakty hen,or jin k pass 30 lakh balance or BPS15+ wala grenter hoga unhen loan ki zarorat nai hogi ,,,,,,,,,
    If a loan seeker knows such a person who has more money in his bank a/c than is required by him from Govt. then he also can request that guarantor to give him loan…… the guarantor can also become his sleeping business partner, if he has enough money for guaranty……..
    Guarantor is bound till loan amount is returned, without any benefit……and if the guarantor give loan to loan seeker on that mark up rate, which is set by the Govt. then he can be benefitted……….
    Honesty is not a Spare Wheel that you pull out when in trouble. It's a Steering Wheel that keeps you on the right path throughout the life's journey.

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    "Another" financial disaster
    lolly pop to youth to trap them
    ahmadbila and john2 like this.

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    what means of one year grace period in this scheme? i thought u don't have to pay any amount amount for 1 year ? kindly explain and if x applicant relative like brother have x amount in his account can he will b guarantor ?

    its near impossible non relative government officer will guarantee for some who is not even his/her blood relative

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    PakWheeler Ishtiaq778's Avatar
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    Quote Originally Posted by wahpakistan View Post
    what means of one year grace period in this scheme? i thought u don't have to pay any amount amount for 1 year ? kindly explain and if x applicant relative like brother have x amount in his account can he will b guarantor ?

    its near impossible non relative government officer will guarantee for some who is not even his/her blood relative
    As per SMEDA financial calculator........in grace period you have to pay the interest only.......principal amount installment will be started from 2nd year............ on 1st page of this thread you can c all the detail of payment
    Honesty is not a Spare Wheel that you pull out when in trouble. It's a Steering Wheel that keeps you on the right path throughout the life's journey.

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