Under the Prime Minister’s Youth Programme, the Government of Pakistan offers interest-free laptop financing to students, freelancers, and young entrepreneurs.
The laptop financing scheme aims to improve digital access by providing modern devices at 0% markup, helping youth participate in education, freelancing, and online business activities across the country.
The financing is aimed at helping students from HEC-recognized institutions, as well as freelancers and young entrepreneurs, by making laptops more accessible for educational and business purposes.
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Here’s how you can apply for this financing.
Eligibility Criteria
To be eligible for the laptop financing under this scheme, the following conditions must be met:
- Age Limit: Applicants must be between 18 and 30 years old.
- Citizenship: Only Pakistani citizens can apply for this financing.
- Education: You must be studying at an HEC-recognized institution. Freelancers and young entrepreneurs can also apply.
- Location: Applicants should be residents of Pakistan.
Required Documents
To apply for the financing, you will need to submit the following documents:
- Application Form: A signed copy of the application form, either in print or photocopy.
- National Identity Document (CNIC): A clear copy of your valid CNIC.
- Schedule of Charges (SOC): Declaration of Schedule of Charges signed by the applicant.
- University Reference/Undertaking (for university students): A reference letter or undertaking from your university through the PMYP portal (for students only).
- Educational Proof: A copy of your latest degree or transcript from your current educational institution (for students).
- Freelancer/Entrepreneur Details: If applying as a freelancer or entrepreneur, provide relevant business details (freelance platform details, portfolio/LinkedIn profile, etc.).
Loan Details
- Select the laptop category you are applying for (Basic, Medium, or Advanced).
- Provide any existing loans or financing details, if applicable, from other banks or financial institutions.
- Submit Documents: Upload the required documents, including your CNIC (front and back) and photo.
- Submit Application: Once all the details are filled out, submit your application through the portal. Ensure that all fields are correctly filled and documents uploaded.
Loan Details and Terms for Laptop Financing
The laptop financing scheme offers loans for three categories: Basic Laptop (up to Rs. 150,000), Medium Laptop (up to Rs. 300,000), and Advanced Laptop (up to Rs. 450,000).
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The loan tenure is flexible, allowing repayment over up to 4 years. The financing follows an 80:20 debt-to-equity ratio (80% loan, 20% equity) and is provided at a 0% markup rate.
Additionally, comprehensive insurance is mandatory for the entire duration of the loan. You have the option to make early payments, either paying off the full loan amount at any time or partially after six months.
What Happens Next?
After submission, the bank will review your application.
Universities may be involved for students. If applicable, your university will verify the application and provide an undertaking through the PMYP portal.
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If eligible, the bank will process the loan and provide the laptop according to the selected category (Basic, Medium, Advanced).
Repayment for students:
Repayment installments may be added to the university fee.
Repayment for freelancers and others:
Repayments are the responsibility of the borrower. You need to ensure that monthly installments are available in your account maintained with ABL.
This initiative is part of Pakistan’s broader strategy to promote digital inclusion and empower youth with tools needed for education, remote work, and entrepreneurship in an increasingly tech-driven economy.
