JS Prime Minister Youth Business Loan for Careem Captains

The government of Pakistan, through Prime Minister Youth Business Loan (PMYBL), presents Careem captains with an opportunity to own a vehicle of their dreams in the pursuit of establishing a source of stable income.

Current PMYBL recipients can visit click here.

Salient Feature of JS PMYBL Careem

  • Maximum Financing Limit: PKR 1,000,000
  • Markup: Fixed at 6% per annum
  • Equity Contribution: Only 10%
  • Loan Tenor: 5 Years with monthly installments
  • Grace Period: 12 months (Only mark-up to be paid in the first year. Principal + markup payments start from second year.)

 

Eligibility Criteria

Careem Captains referred through Careem Network, between the age of 21 and 45 years can apply for JS PMYBL Careem.

 

Car Eligibility Criteria (New and Used):

Car Type Car Age Registration Date
Locally Manufactured
Max 3 yrs
Max 3 yrs
Foriegn Manufactured (Imported)
Max 4 yrs
Max 4 yrs

For example,

Local cars manufactured before 2014 are not eligible for the PMYBL loan.
Imported cars manufactured before 2013 are not eligible for the PMYBL loan.

 

Document Checklist for JS PMYBL Careem

  • Reference letter from Careem Pakistan
  • One recent passport size photograph of the applicant
  • Copy of the CNIC of the applicant
  • Copy of Driving license of the applicant
  • CNIC and contact information for two (2) references
  • Business feasibility report (Standard pre-approved business plan to be applicable)

 

Apply for JS PMYBL Careem

Step 1: Register with Careem Networks Pakistan as a Careem Captain.
Step 2: Careem will refer Captains to JS Bank Limited at designated branches.
Step 3: Complete document checklist of JS PMYBL Careem