Posts in category: Loan Apps

In this article, we will discuss the top 3 loan apps in Pakistan that provide urgent cash loans to their users online via their mobile apps 24/7.

Whether you need Rs. 5,000 immediately or a larger sum like Rs. 50,000, these apps can help you get the money quickly and efficiently.

Our recommended loan apps include:

• Fauri Cash
• SmartQarza
• Barwaqt

However, there is one problem with these loan apps, i.e. these online lending apps operate on interest-based principles that are prohibited in Islam.

To solve this problem, we have also listed the top 3 NGOs in Pakistan that also provide urgent cash loans without interest.

Our selected NGOs for instant loans include:

• Akuwat Foundation
• Alkhidmat Foundation
• Kashf Foundation

That being said, now let’s start our guide!

Recommended Reading: List Of Online Loan Apps That Are Scamming People In Pakistan

Loan Apps In Pakistan Without Interest | Fori Loan App

Table Of Contents

• Loan Apps In Pakistan Without Interest | Fori Loan App
• Top 3 Loan Apps In Pakistan To Get Urgent Loan
  • List Of Banned Online Loan Apps In Pakistan
    • Fake Loan App List In Pakistan
• Top 3 NGOs To Get Loan In Pakistan Without Interest
  • Akuwat Foundation Loan
    • Akhuwat Loan Contact Number
  • Alkhidmat Foundation Loan
    • Alkhidmat Foundation Contact Number
  • Kashf Foundation Loan
    • Kashf Foundation Contact Number
• Comparison Of Top 3 NGOs In Pakistan For Urgent Loans
  • Loan Apps Vs NGOs Loans
  • Concluding Remarks and Suggestions for Choosing the Best Loan
    • Loan Apps
    • NGO Loans
    • Suggestions for Choosing the Best Loan
  • FAQs | Loan Apps In Pakistan

Top 3 Loan Apps In Pakistan To Get Urgent Loan

Loan apps are becoming increasingly popular in Pakistan because they allow you to get the money you need without having to physically go to a bank and fill out paperwork, thus saving you time and money!

So, whether you’re in desperate need of funds or just looking to save yourself some time and effort, here are the top 3 loan apps to use in Pakistan today!

We have listed these apps in comparison table form to help you choose the best app from the following by what you need:

Feature/Criteria	Fauri Cash Loan App	SmartQarza Loan App	Barwaqt Loan App
Loan Amount	PKR 500 – PKR 25,000	PKR 2,000 – PKR 25,000 (higher amounts for repeat users)	PKR 600 – PKR 25,000
Repayment Period	30 days	Various repayment options are available	Under 90 days (including extended loan)
Cooling-off Period	24 hours	Not specified	Not specified
Annual Profit Rate	219.00%	Low interest rates (specific rate not provided)	Daily markup rate: 0.067% – 0.56%
Processing Fee	None	No hidden fees	One-time processing fee
Mark Up	PKR 4,500.00	Low interest rates	Not specified
Other Charges	None	None	Penalty charged after due date
Total Repayment Amount	PKR 29,500.00	Not specified	Not specified
Eligibility Criteria	18 years or older, stable income, good credit history	Not specified	Age 18-60 years, Pakistani citizen, monthly income
Application Steps	Download and install the app, complete registration, provide personal info, select amount & term, submit request, notification within hours, direct bank transfer	Install app from Google Play, register with mobile number, fill forms online, submit application, instant disbursement, repay on time, higher loan for repeat users	Sign up, get verified, select amount & duration, the review process, loan disbursed, repay the loan
Loan Disbursement	Directly to a bank account	Directly to account	Directly to account
Repeat Loan Benefits	Not specified	Higher amount, longer term, lower fees for repeat users	Not specified
Platform	User-friendly mobile application	Mobile application	Mobile application
Ease of Use	Easy registration, quick approval, direct transfer	Easy online application, quick approval, instant disbursement	Simple sign-up and verification, easy loan selection and repayment
Interest-Free Options	No	No	No
Flexibility	Flexible application conditions	Various repayment options, low interest	Flexible loan amounts and duration

List Of Banned Online Loan Apps In Pakistan

The Ministry of Finance Pakistan has blocked several loan apps due to various reasons, including:

• Very High-Interest Rates: Some of these apps were offering loans with exorbitant interest rates, exploiting vulnerable borrowers, and trapping them in debt cycles.
• Private Data Stealing: These apps were involved in unauthorized access and misuse of customers’ personal information, posing a significant threat to data privacy and security.
• Blackmailing Defaulters: Certain loan apps resorted to unethical practices, such as blackmailing borrowers who were unable to repay on time, causing distress and financial harm.
• Theft of Money: There were instances where these apps engaged in fraudulent activities, leading to the theft of funds from customers’ accounts.
• Involvement in Money Laundering: Some of these loan apps were linked to money laundering activities, which raised serious concerns about their legitimacy and compliance with financial regulations.

Fake Loan App List In Pakistan

Following is a complete list of fake loan apps list in Pakistan. These loan apps blocked by the Ministry of Finance Pakistan include:

• Swift Loans
• Rose Cash – Loan Cash
• Bee Cash
• Zenn Park -Easy Instant Help
• TiCash
• Plati Loans
• Asaan Lab – Easy Apply Money
• BG Loan
• HamdardLoan
• LendHome
• Fair Loans
• QuickCash
• Fori Instant Loans
• Loanclub
• MyCash
• Easy Loans Credit Fast Pay
• Sallam Loan – Online Loan App
• 99 Fast Cash Loan
• Apple Qist Qarz
• Rico Box – Easy Apply Online
• Superb Loans
• Little Cash- Mobile Loans
• Yocash
• CashPro-Immediate Approval
• Mrloan
• Galaxy Loan
• CashCredit-Online Loan money bee
• Aasan Qarza- credit loans
• Get Welfare
• Plati Loans
• Harsha Tube – Quick Money
• Loan Credit Cash
• UrCash
• Qarza Pocket -Personal Funds
• Fori Qarz Online Personal Loan
• Whale
• Debit Campsite
• Fast Loan
• Easy Mobile Loans
• FinMore- Online Credit Loans
• ZetaLoan- Easy Credit Wallet

Please note that this list of blocked loan apps is subject to change based on ongoing investigations and regulatory actions by the Ministry of Finance.

Recommended Reading: SmartQarza Loan App-25,000 Online Urgent Loan In Pakistan (SECP Verified)

Top 3 NGOs To Get Loan In Pakistan Without Interest

Akuwat Foundation Loan

Akhuwat Foundation is a non-profit organization in Pakistan that aims to provide interest-free loans to individuals in need.

The foundation was established in 2001 and has since provided loans to over 4.6 million people across the country.

Akhuwat Foundation Loan App is an extension of their services, providing people with easy access to their loan facilities through a user-friendly mobile application.

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 offered by Akhuwat Foundation have a repayment period of 12 to 24 months, and borrowers can choose to make weekly or monthly payments.

The loans are interest-free, and the only fee charged by the foundation is a one-time administrative fee of 5% of the loan amount.

Akhuwat Loan 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 visit the Akhuwat Foundation website to learn more about their loan services and eligibility requirements. They can also contact the foundation’s helpline for further information or assistance with their loan application.

Recommended Reading: Get 25,000 Personal Loan Via Mobile | Paisayaar Urgent Cash Loan App

Alkhidmat Foundation Loan

Alkhidmat Foundation is a non-profit organization that aims to provide support and assistance to underprivileged communities in Pakistan.

Established in 2003, it has been working tirelessly to improve the lives of people in various areas, including health, education, clean water, and disaster relief.

One of the key initiatives of the Alkhidmat Foundation is its loan program, which is designed to help people start their businesses or expand existing ones.

The Alkhidmat Foundation Loan App is a digital platform that facilitates the loan application process for interested individuals.

The app enables borrowers to apply for loans, submit their applications, and track their loan status from the comfort of their homes.

Alkhidmat Foundation offers a variety of loans to individuals based on their specific needs and circumstances. The loans offered by the 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.

Overall, Alkhidmat Foundation’s loan program aims to support the economic development of underprivileged communities in Pakistan by providing them with access to affordable and flexible financing options.

Alkhidmat Rozgar Scheme
Interest Free Business Loans

Alkhidmat Foundation • 03000771601#AlkhidmatFoundation #Alkhidmat #rozgar #interestfreeloans pic.twitter.com/wtQdEbGwSo

— Alkhidmat Foundation Lahore Pakistan(Official) (@AlkhidmatPk) August 5, 2022

Alkhidmat Foundation Contact Number

Here are the contact details for the 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 the Alkhidmat Foundation has multiple branches and offices throughout Pakistan. You can find the contact details for specific branches on their website.

Recommended Reading: Top 5 Apps To Get Urgent Loan In Pakistan {10K-2Lakh} {Updated}

Kashf Foundation Loan

Kashf Foundation is a non-profit microfinance institution and Its main objective is to empower low-income individuals, particularly women, by providing them access to financial services such as loans, and business development services.

The organization has been successful in improving the socio-economic conditions of its clients and has played a pivotal role in promoting financial inclusion in Pakistan.

Kashf Foundation offers a wide range of loan products to cater to the diverse needs of its clients.

These loan products are designed to provide financial support to individuals, groups, and small businesses in Pakistan. Here are the types and range of loans offered by the 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.

Overall, the Kashf Foundation has a wide range of loan products that cater to the diverse needs of its clients.

Its loan products have played a significant role in promoting financial inclusion and empowering low-income individuals and small businesses in Pakistan.

Kashf Foundation Contact Number

Here is the contact information for the 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.

Recommended Reading: Online Loan Apps {New List} | Fori Loan App In Pakistan

Comparison Of Top 3 NGOs In Pakistan For Urgent Loans

The following is a comparison table of top welfare organizations in Pakistan that provide urgent loans without interest:

Feature/Criteria	Akhuwat Foundation Loan	Alkhidmat Foundation Loan	Kashf Foundation Loan
Established	2001	2003	1996
Loan Types	– Qarz-e-Hasna (interest-free) – Agriculture Loan – Education Loan – Small Business Loan – Home Improvement Loan	– Qarz-e-Hasna (interest-free) – Agriculture Loan – Education Loan – Emergency Loan – Microfinance Loan	– Business Loan – Emergency Loan – Education Loan – Health Loan
Loan Amount Range	PKR 10,000 – PKR 1,000,000	PKR 50,000 – PKR 500,000	PKR 5,000 – PKR 300,000
Interest Rate	Interest-free	Interest-free	Low-interest rate
Repayment Period	12 to 24 months	Varies by loan type	6 to 24 months
Processing Fee	5% of loan amount (one-time administrative fee)	Not specified	Varies based on loan amount
Eligibility Criteria	Low-interest rate	– Age 18-60 years – Pakistani citizen – Monthly income	– Pakistani citizen – Stable income
Application Process	– Download app – Register – Provide personal info – Submit request – Notification within hours – Direct bank transfer	– Download app – Register – Fill forms – Submit – Instant disbursement	– Visit the branch or use the mobile app – Register – Provide details – Submit request – Approval notification
Disbursement Method	Directly to a bank account	Directly to account	Directly to a bank account
Repeat Loan Benefits	Not specified	Higher amount, longer term, lower fees for repeat users	Not specified
Platform	Mobile application	Mobile application	Mobile application and physical branches
Additional Services	– Health services – Education support – Social welfare programs	– Health services -Disaster relief -Clean water projects	– Financial literacy training – Business development services
Contact Information	– Website: akhuwat.org.pk – Helpline: 042-111-GIVING (448-464) – Email: info@akhuwat.org.pk – Address: 19 Civic Centre, Township, Lahore, Pakistan	– Website: alkhidmat.org – Helpline: +92 42 111 225 426 – Email: info@alkhidmat.org – Address: 711, Block J-2, Johar Town, Lahore, Pakistan	– Website: kashf.org – Helpline: +92 42 3588 5694 – Email: info@kashf.org – Address: 7D-II, Gulberg III, Lahore, Pakistan

Loan Apps Vs NGOs Loans

Here’s a comprehensive comparison table contrasting the loan offerings from loan apps and NGOs in Pakistan.

This comparison will focus on key aspects such as loan amounts, interest rates, repayment terms, eligibility criteria, and the application process:

Feature/Criteria	Loan Apps	NGOs (Akhuwat, Alkhidmat, Kashf)
Loan Amount Range	PKR 500 – PKR 50,000	PKR 5,000 – PKR 1,000,000
Interest Rate	High interest rates (up to 219% APR)	Interest-free or low-interest loans
Repayment Period	Short-term (30 to 90 days)	Medium to long-term (6 to 24 months)
Processing Fee	Varies (often 0, but high markup included)	– Download the app or visit the branch – Register – Provide info – Submit request – Notification (time varies)
Eligibility Criteria	– 18 years or older Stable income Good credit history	– 18 years or older (varies) – Pakistani citizen Stable income (varies)
Application Process	– Download app – Register – Provide info – Submit request – Notification within hours Direct bank transfer	– Download the app or visit the branch – Register – Provide info – Submit request – Notification (time varies)
Disbursement Method	Directly to your bank account	Directly to your bank account
Repeat Loan Benefits	Higher amount, longer term for repeat users	Higher amount, longer term, lower fees for repeat users (Alkhidmat)
Platform	Mobile application	Mobile application and physical branches
Additional Services	None	– Health services – Education support – Social welfare programs (varies by NGO)
Transparency	Can include hidden fees and high markups	Clear terms, no hidden fees (interest-free for most)
Risk of Over-indebtedness	Higher due to high interest rates	Lower due to interest-free or low-interest terms
Loan Purpose Flexibility	General use (varies)	Specific purposes: education, agriculture, business, emergencies

Concluding Remarks and Suggestions for Choosing the Best Loan

When it comes to selecting the best loan option, both loan apps and NGOs in Pakistan offer distinct advantages and cater to different needs. Here’s a summary to help you make an informed decision:

Loan Apps

• Pros:
  • Quick Disbursement: Loans are typically processed and disbursed within hours.
  • Convenience: The entire application process can be completed via mobile apps, offering a high level of convenience.
  • Flexibility: Suitable for small, short-term financial needs (up to PKR 50,000).
• Cons:
  • High Interest Rates: Often come with very high annual profit rates, which can lead to significant financial burdens.
  • Short Repayment Terms: Usually require repayment within 30 to 90 days, which might not be feasible for everyone.
  • Risk of Over-indebtedness: Due to high interest rates and short repayment periods, there’s a higher risk of falling into debt traps.

NGO Loans

• Pros:
  • Interest-Free or Low-Interest Rates: Most NGOs like Akhuwat and Alkhidmat offer interest-free loans, making them more affordable.
  • Longer Repayment Periods: More flexible repayment terms ranging from 6 to 24 months.
  • Additional Services: NGOs often provide additional support services such as education, healthcare, and business development.
• Cons:
  • Longer Processing Time: Approval and disbursement can take longer compared to loan apps.
  • Specific Loan Purposes: Loans from NGOs are often earmarked for specific purposes such as education, agriculture, or small business, which might not suit everyone’s needs.
  • Eligibility Criteria: Stringent eligibility criteria, such as stable income and good credit history, might be a barrier for some applicants.

Suggestions for Choosing the Best Loan

1. Evaluate Your Needs:
   • If you need a small amount urgently and can repay quickly, loan apps may be suitable.
   • For larger amounts or longer repayment periods, NGO loans are a better option.
2. Consider Interest Rates:
   • Loan apps can be very expensive due to high-interest rates. Always check the APR and calculate the total repayment amount.
   • If you qualify for an interest-free or low-interest loan from an NGO, it is usually the more economical choice.
3. Check Eligibility Requirements:
   • Ensure you meet the eligibility criteria for the loan you are applying for. NGOs typically have more stringent requirements compared to loan apps.
4. Think About Repayment Terms:
   • Assess your ability to repay the loan within the specified period. NGO loans often provide more manageable repayment terms.
5. Look for Additional Benefits:
   • Consider any additional services offered by NGOs that could benefit you, such as business development training or health services.
6. Avoid Over-Indebtedness:
   • Be cautious of taking out multiple loans or loans with high-interest rates that could lead to financial strain. Plan your repayment strategy carefully.

Whether you opt for the convenience of loan apps or the affordability of NGO loans, making an informed decision will help you achieve your financial goals responsibly.

Happy Reading!

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FAQs | Loan Apps In Pakistan

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