Are you confused between applying for Asan Karobar Card and Asan Karobar Finance Scheme? Don’t worry! Many small business owners in Punjab face this same confusion. Chief Minister Maryam Nawaz Sharif has launched two excellent schemes to help entrepreneurs, but choosing the right one can be tricky.
This detailed guide will help you understand the CM Punjab Asan Karobar Card vs Finance Scheme difference so you can make the best decision for your business needs.
What is the Main Difference Between the two Schemes?
The biggest Asan Karobar Card vs Finance Scheme difference is simple:
- Asan Karobar Card = Small amounts (up to Rs 1 million) for daily business needs with a repayment period of 3 years
- Asan Karobar Finance Scheme = Large amounts (up to Rs 30 million) for business expansion with a repayment period of 5 years
Think of it this way: A card scheme is like having a business credit card (جیسے آپ کا ATM card), while a Finance Scheme is like getting a proper business loan from the bank.
Detailed Asan Karobar Card and Finance Scheme Comparison
1. Loan Amount Limits
| Feature | Asaan Karobar Card (AKC) | Asaan Karobar Finance Scheme (AKF) |
| Loan Amount | Up to PKR 1 million | PKR 1 million to PKR 3 crore |
| Repayment Period | 3 years | 5 years |
| Grace Period | 3 months | 3 months |
| Monthly Repayment Start | After 3 months | After 3 months |
| Repayment Structure | 5% of outstanding balance | Equal monthly installments |
کون سا بہتر ہے؟? If you need money for inventory, raw materials, or daily operations, choose the Card. If you want to expand your factory, buy machinery, or start a big project, go for the Finance Scheme.
2. Age Requirements Difference
Here’s where many people get confused about the Asan Karobar eligibility difference:
- Asan Karobar Card: Age 21-57 years
- Finance Scheme: Age 25-55 years
If you’re 22, you can apply for the Card but NOT for the Finance Scheme. Similarly, if you’re 56, you can still get the Card, but the Finance Scheme won’t accept your application.
3. Application Process Differences
The Card Scheme vs Finance Scheme application process has some key differences:
Asan Karobar Card Process:
- Apply online through https://akc.punjab.gov.pk/
- Submit basic documents
- Get digital approval
- Receive a physical card
- Start using immediately
Finance Scheme Process:
- Apply through Asan Karobar Finance Portal
- Provide extensive documentation
- Physical verification of business
- Committee review
- Approval and disbursement
Time Difference: Card approval takes 2-3 weeks, Finance Scheme takes 1-2 months.
4. Documentation Requirements
Both schemes need different levels of documentation:
For Asan Karobar Card:
- CNIC copy
- Business registration (if available)
- Bank statements (3 months)
- Utility bill of business address
For Finance Scheme:
- Complete business plan
- Detailed financial projections
- Income tax returns
- Trade license
- Partnership deed (if applicable)
- Collateral documents
Fewer documents are needed for a card, but more documents are required for finance.
Which Asan Karobar Scheme to Choose?
Choose the Asan Karobar Card If:
- You need working capital for daily operations
- Your business is already running
- You want quick access to funds
- You need flexibility in spending
- Your requirement is under Rs 1 million
Example۔If you have a shop and need money to buy stock, then Asan Karobar Card is a good option for you
Choose Finance Scheme If:
- You want to expand your business
- You need to buy expensive machinery
- You’re planning a new venture
- You can wait for the detailed approval process
- Your requirement is above Rs 1 million
Example: you want to expand your manufacturing unit or set up a factory, then go for the finance scheme۔
Interest Rates and Charges
Both schemes offer interest-free business loan benefits, but there are some charges:
Asan Karobar Card:
- Interest Rate: 0% (completely free)
- Processing Fee: PKR 500
- Annual Fee: PKR 25,000 plus FED
- Cash Withdrawal: Limited to 25% of the limit
Finance Scheme:
- Interest Rate: 0% (markup-free)
- Processing Fee:
- Tier 1 (Rs 1-5 million): Rs 5,000
- Tier 2 (Rs 6-30 million): Rs 10,000
- Other Charges: PKR 25,000 plus FED
Repayment Terms Comparison
Asan Karobar repayment terms comparison shows different flexibility:
Card Scheme:
- After 6 6-month grace period, you have to pay 5% of the outstanding balance in monthly payments.
- 50% of the amount will be available to your card within the first 6 months.
Finance Scheme:
- After 3 3-month grace period, pay the monthly installment for 5 years
Registration Requirements After Approval
Important Note: After getting approval from either scheme, you must register with PRA/FBR within 6 months. This is mandatory for both Card and Finance Scheme beneficiaries.
Which is Better for Your Business?
Asan Karobar Card or Finance Scheme, which is better, depends on your specific needs:
Choosa Card If You Need:
- Quick money for daily operations
- Flexibility in usage
- Simple application process
- Smaller amounts
Choose Finance If You Need:
- Large investment amounts
- Structured business expansion
- Long-term planning
- Major equipment purchase
Frequently Asked Questions
Q: Can I apply for both schemes? A: No, you can only benefit from one scheme at a time.
Q: What happens if I choose the wrong scheme? A: You can reapply for the other scheme after completing the current one.
Q: Which scheme has faster approval? A: Asan Karobar Card has much faster approval (2-3 weeks vs 1-2 months).
Q: Do I need business registration for both? A: A card doesn’t require mandatory registration, but Finance Scheme prefers registered businesses.
Q: Are finance scheme applications open? A: Yes, the applications are open, you can apply through Asan Karobar Finance Portal
Conclusion
The CM Punjab Asan Karobar Card vs Finance Scheme choice should be based on your business size, funding needs, and timeline. Both are excellent interest-free business loan options from CM Maryam Nawaz business initiatives.
یاد رکھیں: There’s no wrong choice – both schemes are designed to help Punjab entrepreneurs succeed. Choose based on your current needs, and you can always explore the other option later as your business grows.
Start your application today and take your business to the next level with these amazing Punjab small business funding options!
