The Maryam Nawaz Loan Scheme under the “Apni Chhat Apna Ghar” initiative offers an interest-free loan of up to Rs. 15 lakh to help families in Punjab build their homes. This scheme, championed by CM Maryam Nawaz, aims to empower around 70,000 families with financial support. Here’s an overview of the program, eligibility criteria, and the step-by-step application process.
Key Features of the Maryam Nawaz Loan Scheme
Loan Amount and Distribution
The 15 lakh loan under this scheme is interest-free and is exclusively available to the people of Punjab. The distribution of these loans started on October 2, 2024, with the Punjab government releasing lists of eligible candidates.
| Feature | Details |
|---|---|
| Loan Amount | Rs. 15 lakh |
| Interest Rate | 0% (Interest-Free) |
| Installment Period | 7 years |
| Monthly Installment | Rs. 14,000 |
| Eligible Regions | Urban and rural areas in Punjab |
| Total Beneficiaries | 70,000 families |
The loan repayments are structured over a span of seven years, with an initial relief on the first three installments, making it manageable for beneficiaries.
Eligibility and Registration Process
The Apni Chhat Apna Ghar Scheme allows families without their own homes to apply for a loan. However, there are specific eligibility requirements, including land ownership of either 5 marlas in urban areas or 10 marlas in rural settings.
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Documents Required
To complete the application process, applicants need:
- National Identity Card (CNIC)
- Proof of monthly income
- Property ownership documents
Online Registration Process
To apply, follow these steps on the official portal acag.punjab.gov.pk:
- Account Creation: New users must create an account with their CNIC, contact details, and address.
- Form Submission: Complete the application form with personal information and upload the required documents (CNIC photos, property proof).
- Verification: Review your information, agree to the terms, and submit your application.
- Loan Disbursement: If eligible, the Punjab government will notify you regarding loan disbursement dates.
The application process is straightforward, ensuring accessibility for all citizens.
Recent Updates on the Scheme
- Loan Distribution Began: Loan distribution under the scheme officially started on October 2, 2024. Eligible individuals can now collect their funds to begin home construction.
- Mass Registration: As of now, over 200,000 people have registered for the scheme. This high interest indicates a promising start for the government’s efforts to address housing needs.
- Upcoming Distribution Dates: If you’ve already applied, the next round of distributions is scheduled for mid-September. You can check your status on the portal.
Key Benefits
This scheme provides substantial financial relief to families aspiring to own a home. Key benefits include:
- Interest-Free Financial Aid: Reduces the financial burden on low-income families.
- Flexible Installments: Repayment is spread over seven years with a monthly installment of Rs. 14,000.
- Home Ownership Encouragement: Promotes home ownership across Punjab, enhancing living standards and stability.
Conclusion
The Maryam Nawaz Loan Scheme 2024 is a commendable step by the Punjab government to support home ownership. Through a simple online application process and significant loan benefits, the scheme promises a pathway for families to achieve housing independence. Register now on the official Apni Chhat Apna Ghar Scheme portal to take advantage of this interest-free loan opportunity.
