igital SME Card Scheme
This scheme provides interest-free loans of up to PKR 1 million through a Digital SME Card to support small entrepreneurs in Punjab. The funds will be managed through digital channels (such as mobile apps and POS) to ensure transparency and proper utilization for business growth.
Key Features
- Maximum Loan Limit: PKR 1 million
- Loan Tenure: 3 years
- Loan Type: Revolving credit facility for 12 months
- Repayment Term: 24 equal monthly installments after the first year
- Grace Period: 3 months from card issuance before repayment starts
Usage of Funds
✅ Vendor and supplier payments
✅ Utility bills, government fees, and tax payments
✅ Cash withdrawal (up to 25% of the limit) for business-related purposes
✅ Digital transactions via POS and mobile app
Eligibility Criteria
✅ All small entrepreneurs (SEs) operating in Punjab
✅ Age: 21 to 57 years
✅ Pakistani national residing in Punjab
✅ Valid CNIC and mobile number registered in the applicant’s name
✅ Existing or new business in Punjab
✅ Satisfactory credit and psychometric assessment
✅ Only one application per individual or business
✅ No overdue loans or default history
How to Apply?
✅ Applications must be submitted online via the PITB portal
✅ Processing fee: PKR 500 (non-refundable)
✅ Digital verification of CNIC, creditworthiness, and business premises by authorized agencies
Loan Usage and Repayment Details
- First 50% of the loan is available for use within the first 6 months
- 3-month grace period from card issuance
- After 3 months, repayment starts with a minimum monthly payment of 5% of the outstanding principal balance
- Second 50% of the loan will be released upon satisfactory usage, regular repayments, and registration with PRA/FBR
- Funds can only be used for business-related purposes (personal expenses or non-business-related transactions will be blocked)
- Remaining loan balance after the first year must be repaid over 2 years in equal monthly installments (EMIs)
Charges / Fees
💳 Annual Card Fee: PKR 25,000 + FED (deducted from the approved limit)
💰 Additional Charges: Life insurance, card issuance, and delivery charges covered under the scheme
⚠ Late payment penalties will apply as per the bank’s policy and schedule of charges
Security Details
🔹 Personal guarantee digitally signed by the borrower
🔹 Life insurance included in the portfolio
🔹 Urban Unit will verify the business premises physically within 6 months of loan approval and annually thereafter
Key Conditions
✅ Funds can only be used for core business activities
✅ PRA/FBR registration is mandatory within 6 months of card issuance
✅ Only one application per individual or business is allowed
Additional Support for Applicants
📊 Feasibility Studies available on PSIC and BOP websites for startups and new businesses
📞 Helpline: 1786
🔗 For more details, visit: Official Website