Sun. Jul 14th, 2024
BISP Bachat Scheme Launched BISP Deserving People Updates

BISP Bachat Scheme

BISP Bachat Scheme: The federal government of Pakistan has announced a Unique Income Support Program, the “Bachat Scheme.” This scheme was officially unveiled on November 25, 2023. Explore the complete details and verify your eligibility.

The BISP Savings program is designed for current beneficiaries of the BISP program and informal workers engaged in daily wages and non-formal employment.

Registration Started For BISP Bachat Scheme

As announced in the previous meeting, there is Benazir Income Support Programme Recently introduced online registration for the BISP Savings Scheme to help the poor If you want to complete your registration then follow the few steps given below

  • If you want to register yourself for BISP Savings Scheme visit the official portal of BISP and enter the details.
  • First, enter your National ID card portal
  • And after that press the known button you will be told your information

Bachat Savings Scheme Online Registration

The Benazir Income Support Program invites applications for its innovative savings scheme. This initiative is actively commencing in various key locations, including Islamabad, Muzaffarabad, Neelam, Peshawar, Lucky Marwat, Quetta, Qila Saifullah, Lahore, Multan, Karachi, Sukkur, Gilgit, and Astor. 

BISP Bachat Scheme Launched BISP Deserving People Updates

Take the opportunity to submit your details and apply for the savings scheme. It’s important to note that the Benazir Income Support Program does not impose any fees for submitting an application. Secure your financial future today!

You Can Also Read: Apply for BISP Registration Online

BISP Bachat Portal

If you want to register yourself in the savings scheme launched under the Benazir program, here is the complete procedure that you can help.

  • To apply you have to go to the portal first
  • After entering the portal, you have to enter some information
  • First, you have to enter your National Identity Card
  • After that, you have to press the enter button
  • A message is immediately sent to the screen
  • In which you are told whether you are registered in this program or not
  1. اپلائی کرنے کے لیے آپ کو پہلے پورٹل پر جانا ہوگا۔
    پورٹل میں داخل ہونے کے بعد، آپ کو کچھ معلومات داخل کرنی ہوگی۔
  2. سب سے پہلے آپ کو اپنا نیشنل آئیڈینٹٹی کارڈ داخل کرنا ہوگا۔
  3. اس کے بعد، آپ کو اینٹر بٹن دبانا ہوگا۔
  4. فوراً ایک پیغام اسکرین پر بھیج دیا جاتا ہے۔
  5. جس میں آپ کو یہ بتایا جاتا ہے کہ آپ اس پروگرام میں رجسٹرڈ ہیں یا نہیں۔

Condition For BISP Bachat

Engaging in this program requires the establishment of a savings account with a bank. Participants are expected to contribute a monthly sum ranging from 500 to 1000 rupees into their bank accounts. The Benazir Income Support Program enhances this effort by providing an extra 40% on savings.

The program spans two years, culminating in the complete withdrawal of the accumulated amount. It’s crucial to note that the principal amount cannot be withdrawn during this period, while the contributions from BISP and the accrued interest will be retrievable from the bank.

Flexibility is offered, allowing withdrawals at any time. However, rejoining the program is only possible once the scheme reaches its conclusion. This unique opportunity combines disciplined savings with additional support for financial empowerment.

BISP Bachat Scheme Launched BISP Deserving People Updates

Bachat Scheme Programme

The Benazir Income Support Program introduces the BISP Bachat Scheme, specifically designed for daily wage earners and individuals associated with the BISP initiative. This innovative scheme seeks to offer assistance in a novel manner.

Under this initiative, the government pledges an additional 40% compensation to consumers through the Benazir Income Support Program. Notably, the Bachat scheme is not exclusive to Benazir consumers; it encompasses all individuals engaged in informal employment.

You Can Also Read: BISP 8171 Result Check by CNIC مکمل تفصیلات

BISP Chairman Dr. Muhammad Amjad Saqib unveiled the Bachat scheme during a recent meeting, emphasizing its two-year duration and initial inclusion of districts across the country. The overarching goal is to extend this savings program nationwide, ensuring its accessibility to a broader population for maximum benefit.

Eligibility Criteria

To be eligible for enrollment in the Benazir Bachat Scheme, the government has established specific criteria that applicants must meet:

  • PTM Score: Your PTM (Poverty Targeting Mechanism) score should fall within the range of 0 to 40 to qualify for the Bachat scheme.
  • Savings Account: Applicants are required to have an active savings account in any public or private bank.
  • Residence in Designated Districts: Individuals applying for the scheme must be residents of selected districts, including Islamabad, Muzaffargarh, Neelam, Peshawar, Lucky Marwat, Quetta, Qila Saifullah, Karachi, Sukkur, Lahore, Multan, Gilgit, and Astor.
  • District Limitations: If you do not reside in the specified districts, you are currently ineligible to apply.
  • NSER Survey: Prospective applicants need to complete the National Socioeconomic Registry (NSER) survey under the Benazir Income Support Program before applying for the Bachat scheme.

By meeting these criteria, individuals can actively participate in and benefit from the Benazir Bachat Scheme.

Bachat Scheme Registration Method

The enrollment process for the BISP Bachat Scheme program is now underway. The Benazir Income Support Program has introduced an online portal where you can assess your eligibility or ineligibility by entering your National Identity Card information. Additionally, you can verify whether your district is part of this scheme or not.

It’s important to note that the application submission process is currently ongoing. For further details, you can inquire at your nearest BISP tehsil office. Stay informed and seize the opportunity to participate in this program.

Application Process For the Benazir Bachat Program

To participate in the Benazir Bachat Scheme and reap its benefits, follow the steps outlined below:

  • Ensure you have a savings account in any public or private bank to be eligible for the Benazir Bachat scheme. If you don’t have an existing bank account, promptly open a savings account to become eligible for the program.
  • Scheme participants are required to deposit a monthly amount ranging from 500 to 1000 rupees into their savings account. In addition to the savings deposited in the bank, participants will receive an extra 40% through the Benazir Income Support Program.
  • The Bachat scheme has a fixed duration of two years, and after the completion of this period, you can withdraw your accumulated funds. Keep in mind that you cannot withdraw the principal amount during the two-year savings scheme period. 
  • However, you are allowed to withdraw the profits given by the bank and the additional 40% provided by the Benazir Income Support Program every month. Withdrawal from the scheme is flexible, and there is no obligation to stay enrolled.
  •  If you choose to withdraw, you can do so at any time. However, rejoining the scheme is not possible until the expiration of the period. Seize this opportunity to enhance your savings and financial well-being through the Benazir Bachat Scheme.

New Updates About This Scheme

Certainly! If you’re interested in joining the BISP savings scheme, here’s a simple guide:

Open a Savings Account:

Start by opening a savings account in any government or private bank. This account is a prerequisite for participating in the BISP savings scheme. 

Visit the Web Portal:

Access the official web portal 

Submit Your Application:

Apply for the savings scheme by entering your ID card number on the portal. The application process is user-friendly and can be completed with ease.

District Eligibility Check:

Verify whether you belong to one of the selected districts specified by the Benazir Income Support Program. The response to your application will depend on your district eligibility.

Application Response:

Expect to receive a response to your application within a few days. The response will confirm whether you have successfully joined the BISP scheme.

No Application Fee:

It’s important to note that the Benazir Income Support Program does not charge any fees for the application process. The scheme is designed to be accessible to all eligible individuals.

Alternative Application Submission:

If you prefer, you can also submit your application at the nearest BISP Tehsil Office to enroll in the Benazir Bachat Scheme.

By following these straightforward steps, you can initiate the process of joining the BISP savings scheme and potentially benefit from the financial assistance provided by the program.

Conclusion

It’s great to hear about the initiation of the 8500 Benazir Bachat Scheme. This program, with its financial assistance and inclusive approach, reflects the government’s dedication to supporting its citizens. By expanding to more regions,

the scheme has the potential to uplift communities and serve as a valuable safety net for those in need. This initiative aligns with the government’s commitment to fostering economic well-being and providing assistance where it is most impactful.

FAQS

Who Is Eligible For BISP Bachat Scheme?

BISP Savings Scheme is designed for poor and deserving families in this program deserving and poor families are eligible,

How To Apply For Bachat Scheme?

To register in BISP Savings Scheme, you have to visit the official website of BISP and enter your information in the registration form Your information will be forwarded to Benazir’s office and once completed, you will be registered in the program.