3 Best Loan App in Pakistan Without Interest

3 Best Loan App in Pakistan Without Interest

In Pakistan the process of borrowing money via traditional banking is an expensive and time-consuming process particularly for those who require smaller or short-term loans for immediate cash requirements.

With the advancement of technology as well as the growing acceptance of digital banking, numerous loans apps have emerged on Pakistan. Pakistani market.

These loan apps provide rapid and easy access to loans from the amount of Rs. 5,000 to Rs. 50,000, with no requirement for long documents or collateral.

This article we will look at the three top loan apps in Pakistan that offer quick cash loans to their customers.

1. Akuwat Foundation Loan App

2. Alkhidmat Foundation Loan App

3. Kashf Foundation Loan App

Top 3 Loan Apps In Pakistan To Get Urgent Loan

Apps for loan are becoming more popular in Pakistan because they permit you to obtain the cash you require without the necessity of going to the bank to fill out forms, thereby cutting down on time and cost!

In addition the majority of loan applications offer more flexibility with regards to the loan amount and conditions which allows you to repay the loan in a short time and at low interest costs.

So, whether you are the need of cash or simply want to cut down on time and effort Here are the three top loan apps to consider using in Pakistan right now!

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Akuwat Foundation Loan App

Akhuwat Foundation is a non-profit group located in Pakistan which is aimed at providing low-interest loans to individuals who are in financial need.

The foundation was founded in 2001, and has since granted loans to more than 4.6 million citizens across the country.

Akhuwat Foundation Loan App is an extension of their offerings, offering individuals with quick gain access to the loan services by way of a mobile application that is user-friendly.

Akhuwat Foundation Loan App offers several types of loans to cater to different financial needs of individuals, including:

• Qarz-e-Hasna: A short-term interest-free loan that ranges from PKR 10,000 to PKR 100,000. This loan is for individuals who require urgent financial assistance.
• Agriculture Loan: A loan for farmers to purchase seeds, fertilizer, and other agricultural inputs. The loan amount ranges from PKR 20,000 to PKR 100,000.
• Education Loan: A loan for students who want to pursue higher education in Pakistan. The loan amount ranges from PKR 30,000 to PKR 200,000.
• Small Business Loan: A loan for individuals who want to start or expand a small business. The loan amount ranges from PKR 50,000 to PKR 1,000,000.
• Home Improvement Loan: A loan for individuals who want to improve their homes. The loan amount ranges from PKR 50,000 to PKR 300,000.

All loans made available by the Akhuwat Foundation have a repayment time of between 12 and 24 months. Borrowers may choose to pay monthly or weekly repayments.

The loans are unsecured and the only charge paid by the foundation is a one-time administration fee of 5percent of the amount of the loan.

Akhuwat Foundation Contact Number

For those interested in learning more about Akhuwat Foundation and its loan services, the following contact information is available:

Website: https://www.akhuwat.org.pk
Helpline: 042-111-GIVING (448-464)
Email: info@akhuwat.org.pk
Address: Akhuwat Foundation, 19 Civic Centre, Township, Lahore, Pakistan.

Individuals can go to their Akhuwat Foundation website to learn more about their loan options and their eligibility conditions. You can also call the helpline of the foundation for more information or assistance in completing your loan application and see all branches of Akhuwat Foundation.

More Details of Akhuwat Foundation Click Here.

Alkhidmat Foundation Loan App

Alkhidmat Foundation is a non-profit foundation that seeks to provide assistance and support to the poorest communities in Pakistan.

Since its inception in 2003, the organization has been a constant effort to enhance the lives of those across a variety of areas, such as education, health clean water, as well as aid for disasters.

One of the most important projects for the Alkhidmat Foundation is its loan program, specifically designed to assist people in starting their own companies or grow existing ones.
The Alkhidmat Foundation Loan App is an digital platform that simplifies applications for loan approvals to those who are interested individuals.
The app lets borrowers apply for loans, complete their applications, and keep track of how their loan is doing from their home.

Alkhidmat Foundation offers a variety of loans to individuals depending on their particular requirements and needs. The loan options provided through Alkhidmat Foundation are as follows:

• Qarz-e-Hasna Loan: This is an interest-free loan designed to help people start their own businesses or expand existing ones. The loan amount ranges from PKR 50,000 to PKR 500,000. 
• Agriculture Loan: This loan is specifically designed to help farmers improve their agricultural practices and increase their yields. The loan amount ranges from PKR 50,000 to PKR 500,000.
• Education Loan: This loan is designed to help students pay for their educational expenses, including tuition fees, books, and other related expenses. The loan amount ranges from PKR 50,000 to PKR 500,000.
• Emergency Loan: This loan is designed to provide quick financial assistance to individuals who are facing unexpected expenses due to a medical emergency, natural disaster, or other unforeseen circumstances. The loan amount ranges from PKR 50,000 to PKR 200,000.
• Microfinance Loan: This loan is designed to help small businesses grow and expand by providing them with access to affordable financing. The loan amount ranges from PKR 50,000 to PKR 500,000.

The Alkhidmat Foundation’s loan program aims to help the development of the economy of disadvantaged populations in Pakistan by enabling them to have the ability to access affordable and flexible financing options.

Alkhidmat Foundation Contact Number

Here are the contact details for Alkhidmat Foundation:
Website: https://alkhidmat.org
Helpline: +92 42 111 225 426
Email: info@alkhidmat.org
Address: Alkhidmat Foundation Pakistan, 711, Block J-2, Johar Town, Lahore, Pakistan.
Note that Alkhidmat Foundation has multiple branches and offices throughout Pakistan. You can find the contact details for specific branches on their website.

More Details of Alkhidmat Foundation Click Here.

Kashf Foundation Loan App

Kashf Foundation is a non-profit microfinance institution. Its primary purpose is to support individuals with low incomes individuals especially women through providing the opportunity to access financial products like loans, as well as business development assistance.

Kashf Easy Loan (KEL) is a new loan product designed to address the demands of those who need low amounts of loans to meet any needs. It usually is the case that clients already need a loan to address issues that they are already borrowers from KF in other programs of Kashf. Students needing a loan to finance their studies may also apply.

The organization has succeeded in enhancing the socio-economic situation of its customers and has played a key role in encouraging the inclusion of financial services in Pakistan.

Kashf Foundation offers a wide variety of loan options to satisfy the different demands of its clients.

Kashf Karobar Karza

Kashf Karobar Karza is the primary lending product offered by Kashf Foundation to clients who wish to start their own business, expand their existing enterprise or to those women who intend to re-start their shut-down business (applicable to business that has been shut-down since a minimum of three months). This product can also be availed by women who wish to help members of their households that are running business. 

Kashf Easy Loan

Kashf Easy Loan (KEL) is a relatively new loan product introduced to meet the urgent needs of clients who require small loan amounts for any purpose. It is an easily accessible loan of PKR 15,000, intended to tap an underserved segment and also to create microfinance readiness among low income female clients. It aids those clients who wish to fulfill their financial needs on an urgent basis. This loan can be availed on easy conditions and less time.

Kashf Sahulat Karza

Kashf Sahulat Karza is available for existing clients to provide a cash inflow to meet emergency expenses or needs that may come up over the course of their loan tenure with Kashf.  This loan can be used for any domestic or emergency needs and does not have to be used to address a business need.

Kashf Mahweshi Karza

Kashf’s holistic approach through this loan product focuses both on improving the productivity of the animal, mitigating risks and improving returns to the female livestock producers.

Kashf Murabaha

Kashf Marhabah is a customized product designed offered in Khyber Pakhtunkhwa province where Kashf’s market research showed a significant demand for microfinance but a higher degree of unease in accessing conventional microfinance products. To address the regional credit needs in KPK Kashf runs this Shariah Complaint program which has been approved by a Shariah advisor.

These loans are designed to offer financial assistance to individuals or groups of people as well as small-scale enterprises in Pakistan. These are the different types and varieties of loans offered by the Kashf Foundation. Kashf Foundation:

• Qarz-e-Hasna (Interest-free loan): This loan is designed to provide interest-free loans to low-income individuals who are unable to access formal financial services.
• Individual Loan: Kashf Foundation offers individual loans to individuals who want to start or expand their small businesses. The loan amount ranges from PKR 10,000 to PKR 100,000.
• Group Loan: Group loans are offered to small groups of individuals who want to start or expand their businesses. The loan amount ranges from PKR 50,000 to PKR 500,000.
• Agriculture Loan: This loan is designed to provide financial support to small farmers who want to expand their agriculture business. The loan amount ranges from PKR 10,000 to PKR 100,000.
• Microenterprise Loan: This loan is designed to provide financial support to individuals who want to start or expand their small businesses. The loan amount ranges from PKR 10,000 to PKR 500,000.
• Livestock Loan: This loan is designed to provide financial support to individuals who want to start or expand their livestock businesses. The loan amount ranges from PKR 10,000 to PKR 100,000.

Education Loan: This loan is designed to provide financial support to individuals who want to continue their education. The loan amount ranges from PKR 10,000 to PKR 100,000.

In general, Kashf Foundation has a diverse range of loan options that cater to the different requirements of its customers.

The loan products it offers have played an important part in encouraging financial inclusion as well as empowering individuals and small-sized businesses in Pakistan.

Kashf Foundation Contact Number

Here is the contact information for Kashf Foundation:
Website: https://www.kashf.org
Helpline: 042-111-527-427
Email: info@kashf.org
Address: Kashf Foundation, 64-L Gulberg III, Lahore, Pakistan.

If you want to see all branches list visit here.

More Details of Kashaf Foundation Click Here.

Loan Apps FAQs

The maximum loan amount I can obtain through online loan applications?

The amount varies from one company to another company. Most of the time, you can receive up to PKR 50,000 quickly through loan applications.

How do loan apps work in Pakistan?

Apps for loans in Pakistan work similar to those in other countries. The borrower downloads an app and creates an account. Then, he completes a loan application form, and then gets approval. The loan amount is transferred straight to the borrower’s banking account.

Are all loan apps legitimate?

Not all loan applications are legit. Certain loan applications have been reported to engage in frauds including charging high-interest rates and hidden charges and hounding borrowers to make the payment.

How can I identify legitimate loan apps in Pakistan?

To find legitimate loan applications that are legitimate in Pakistan Do your homework prior to installing an app. Read the app’s evaluations and reviews, then read the conditions and terms thoroughly and verify that the app has been approved by the appropriate regulator in Pakistan.

What are some common scams and frauds associated with loan apps in Pakistan?
A few common scams and swindles connected to loans that are available in Pakistan are fake loans, scams involving phishing, and loan applications which charge high interest rates and fees, without making them clear in advance.

What should I do if I have been scammed by a loan app in Pakistan?

If you have been conned by a lending app in Pakistan It is imperative to notify the relevant regulatory authority like the State Bank of Pakistan or the Federal Investigation Agency (FIA).

Are there any options for interest-free loans in Pakistan?

There are a variety of alternatives for interest-free loans in Pakistan like those offered by the Akhuwat Islamic Microfinance program, the Pakistan Poverty Alleviation Fund (PPAF) as well as the Kamyab Jawan, which is the prime minister’s Youth Entrepreneurship Program.

These programs provide interest-free loans to qualified individuals for a variety of purposes like education, business, or housing.

How much can I borrow through a loan app in Pakistan?

What you are able to borrow from an app for loans in Pakistan differs based on the app as well as the creditworthiness of the person applying for it. The typical loan amount vary between a few thousand and hundreds of thousands of rupees.

What are some tips for using loan apps in Pakistan safely and responsibly?

To make use of loan applications in Pakistan safe and responsibly Only borrow the amount you can pay back be able to repay. Read all the conditions and terms thoroughly beware of applications that charge high interest rates or charges.

You must be extra cautious when sharing your personal details or banking information and only download applications from trusted sources.

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