Akhuwat Loan
Akhuwat Loan is a non-profit organization founded in 2001 on the Islamic principle of Muwakhat, meaning solidarity, aiming to provide interest-free loans to poor people, i.e., people in need or own. You can take this loan if you want to start a small business. This is an Islamic loan that does not have interest. You can take this loan without interest. Here we give you this loan. I will give complete details about taking.
Registration for the Akhuwat Loan Scheme 2024 has started. The Akhuwat Loan Government of Pakistan has started. Now, all Pakistanis from the poor class can get loans from the Akhuwat Foundation without interest. The information will tell you the answers are made mandatory for the Foundation. Akhuwat Foundation’s primary goal is to eradicate poverty in Pakistan, giving interest-free loans to people all over Pakistan.
Akhuwat Loan Apply Online
This Akhuwat Loan Scheme online registration has been released. If You want to apply we will guide you on how you can apply. If you want to build a house in five marlas, how much loan can you get? In this article, we will tell you all that information.
If you want to register online, go to your official website, download the form, and write a complete application explaining why you want it and describing it in detail so it’s easy to read. Then, send it to the Aim office near your home. After the application is reviewed, you will receive details, and all the documents required for loan approval will also be reviewed.
Required Documents
Follow the following factors.
- Applicant’s CNIC.
- Applicant’s income certificate.
- Applicant’s family certificate.
- The applicant must have a guarantor who is from his family.
- Applicant’s electricity bill such as gas bill.
- It must be accompanied by the marriage certificate of the applicant
If you also want to get a loan from Akhuwat then you must have a few things if you must have a five marla plot on which you want to build a house it must be three hundred and sixty yards if you apply there If they can, they will examine you, investigate you, and ask your neighbors about you.
Eligibility Criteria Free Loan
- The applicant must have his head identity card
- Applicant must not be running a business and must be between 18 to 62 years of age
- Applicant must be economically active
- The applicant should not be involved in any criminal activity
- Applicants must be of good social standing and character
- The applicant must provide at least two references related to family members, and senior government officials for the applicant at any time.
Important Documents For Applying
CNIC front back copy
A CNIC copy of two guarantors is mandatory.
If outside guarantors are available then guarantors ’ CNIC.
If outside guarantors are not available then Any family member’ CNIC.
All these documents are required by the Akhuwat so that they can identify the applicant, the management information system can verify the applicant, and the bank needs these documents to recover the loan.
You can also apply: Akhuwat Foundation Announces Many Job Opportunities
Akhuwat loan scheme Important Steps
To start the Akhuwat Loan Scheme process, you must first apply. The application fee varies from
- The applicant will arrange all the documents and visit the nearest Aim branch to submit the loan application.
- The Program Manager will review the documents provided and if the application meets the eligibility criteria for the Direct Loan Scheme 2023, approval will be granted.
- Eligible candidates will fill and submit the approved application form, their staff will provide a form and assist in making all demands on the situation.
- The manager will check all the documents again and then start the application process
- The loan is approved within three to four weeks
- Loans are granted in a ceremony that usually takes place in a mosque.
Those who belong to the lower class and have the ability to run a business have no economic activities.
So for them, Akhuwat Company has launched a loan scheme under this game. They will be provided with free loans and easy payments. You may also Check Jazz Cash Loan.
Loan Type
| Loan Type | Rupee Range in PKR | Duration | Application Fee in PKR |
|---|---|---|---|
| Family Enterprise | 10,000 to 50,000 | 10 to 36 Months | 200 |
| Agriculture | 10,000 to 50,000 | 04 to 08 Months | Not |
| Liberation Loan | 10,000 to 100,000 | 10 to 36 Months | 200 |
| Akhuwat Housing Loan | 30,000 to 100,000 | Up to 36 Months | 200 |
| Education | 10,000 to 50,000 | 10 to 24 Months | 200 |
| Health | 10,000 to 50,000 | 10 to 24 Months | 200 |
| Marriage | 10,000 to 50,000 | 10 to 24 Months | 200 |
| Emergency | 10,000 to 50,000 | 10 to 24 Months | 200 |
| Equipment and build School | 25,000 to 150,000 | Up to 36 Months | 200 |
Final Words
The Akhuwat Loan Scheme, founded on the Islamic principle of Muwakhat, is a non-profit initiative designed to provide interest-free loans to economically disadvantaged individuals in Pakistan. Established with the goal of eradicating poverty, the scheme aims to empower people by helping them start small businesses, build homes, or address other financial needs. The application process for the Akhuwat Loan Scheme 2024 is now open, allowing eligible individuals from all parts of Pakistan to apply for loans without the burden of interest. To apply, interested candidates must visit the official Akhuwat website, fill out the application form, and submit required documents such as CNIC, income certificate, family certificate, and proof of a guarantor.
Applicants must meet specific eligibility criteria, including being between the ages of 18 and 62, not currently running a business, and having a good social standing. They must also provide references from family members or senior government officials. Once the application is submitted, it will be reviewed, and eligible candidates will be contacted for further processing. The loan approval process typically takes three to four weeks, after which loans are disbursed, often in a ceremony held at a mosque. This initiative is especially beneficial for individuals from lower-income backgrounds who have the potential to start or expand a business but lack access to traditional financial services.
FAQs
How can I apply for the Akhuwat Loan Scheme?
To apply, visit the official Akhuwat website, download the application form, and complete it with the necessary details. Afterward, submit the form along with the required documents to the nearest Akhuwat branch for processing.
Can I apply for a loan if I do not have a business or any economic activity?
Yes, the Akhuwat Loan Scheme is specifically designed for individuals from lower-income backgrounds who are capable of starting or running a business but do not have access to traditional financial resources.
How long does it take to process the loan application?
After submitting the application and required documents, the approval process usually takes around three to four weeks. If eligible, applicants will be contacted for further steps.
Where do I submit my loan application?
Submit your completed loan application and documents at the nearest Akhuwat branch or office. You can find the branch locations on the Akhuwat website.
What happens after my loan application is approved?
Once approved, you will be invited to a loan disbursement ceremony, usually held at a mosque. The loan is provided, and you will begin repaying it under the terms set by the Akhuwat Foundation.
Can I get a loan to build a house?
Yes, if you have a five-marla plot (360 yards) on which you want to build a house, you may apply for a loan under the Akhuwat scheme. The Foundation will review your application, and an investigation will be conducted before approval.