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 {Updated}
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
- Top 3 NGOs To Get Loan In Pakistan Without Interest
- Comparison Of Top 3 NGOs In Pakistan For Urgent Loans
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.
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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 own 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
— Alkhidmat Foundation Lahore Pakistan(Official) (@AlkhidmatPk) August 5, 2022
Interest Free Business Loans
Alkhidmat Foundation • 03000771601#AlkhidmatFoundation #Alkhidmat #rozgar #interestfreeloans pic.twitter.com/wtQdEbGwSo
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.
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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.
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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
- 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.
- 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.
- 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.
- Think About Repayment Terms:
- Assess your ability to repay the loan within the specified period. NGO loans often provide more manageable repayment terms.
- Look for Additional Benefits:
- Consider any additional services offered by NGOs that could benefit you, such as business development training or health services.
- 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
The maximum loan amount that I can get via online loan apps?
It varies from company to company. Usually, you can get PKR 5,000 to PKR 50,000 easily via loan apps.
How do loan apps work in Pakistan?
Loan apps in Pakistan work similarly to other countries. The borrower downloads the app, creates an account, fills out a loan application form, and gets approval. The loan amount is then disbursed directly to the borrower’s bank account.
Are all loan apps legitimate?
No, not all loan apps are legitimate. Some loan apps have been known to engage in fraudulent practices, such as charging high interest rates, and hidden fees, and harassing borrowers for repayment.
How can I identify legitimate loan apps in Pakistan?
To identify legitimate loan apps in Pakistan, do your research before downloading an app. Check the app reviews and ratings, read the terms and conditions carefully, and ensure that the app is registered with the relevant regulatory authority in Pakistan.
What are some common scams and frauds associated with loan apps in Pakistan?
Some common scams and frauds associated with loan apps in Pakistan include fake loan approvals, phishing scams, and loan apps that charge high interest rates and fees without disclosing them upfront.
What should I do if I have been scammed by a loan app in Pakistan?
If you have been scammed by a loan app in Pakistan, you should immediately report the incident to the relevant regulatory authorities, such as the State Bank of Pakistan or the Federal Investigation Agency (FIA).
Are there any options for interest-free loans in Pakistan?
Yes, there are several options for interest-free loans in Pakistan, such as the Akhuwat Islamic Microfinance program, the Pakistan Poverty Alleviation Fund (PPAF), and the Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme.
These programs offer interest-free loans to eligible individuals for various purposes, such as education, business, and housing.
How much can I borrow through a loan app in Pakistan?
The amount you can borrow through a loan app in Pakistan varies depending on the app and the borrower’s creditworthiness. In general, loan amounts can range from a few thousand to several hundred thousand rupees.
What are some tips for using loan apps in Pakistan safely and responsibly?
To use loan apps in Pakistan safely and responsibly, only borrow what you can afford to repay, read the terms and conditions carefully, and avoid apps that charge high-interest rates or fees.
You should also be cautious when providing personal information or banking details and only download apps from reputable sources.
What factors should borrowers consider before using loan apps?
Borrowers should consider factors such as the security measures of the loan app, loan amounts offered, interest rates, repayment terms, hidden fees, and their own financial capability to ensure that the loan app aligns with their needs and affordability.
Can loan apps in Pakistan help borrowers improve their financial situation?
Yes, loan apps can help borrowers improve their financial situation by providing access to funds for various purposes, facilitating entrepreneurial ventures, supporting education, and encouraging responsible borrowing and repayment, which can build a positive credit history.
How much interest-free loan is provided by the Akhuwat Foundation?
Akhuwat Foundation provides PKR 50.000 interest-free loans to applicants across Pakistan.
There are no extra fees or charges for Akhuwat loans.
How to get Qarz-e-Hasna (Interest-free loan) for business in Pakistan?
Kashf Foundation gives Qarz-e-Hasna/Interest-free loan amounting to PKR 300,000 Lakhs to PKR 500,000.
PKR 500,000 interest-free loan is given in the form of group lending i.e. by including friends/family members as co-applicants while applying for loans from Kashf Foundation.
Is Akhuwat Loan interest-free?
Yes, Akhuwat loans are interest-free. Akhuwat Foundation gives PKR 50,000 interest-free loans to the poor across Pakistan.
Which welfare organizations in Pakistan offer instant cash loans and what loan amounts do they provide?
Several welfare organizations in Pakistan offer instant cash loans to individuals in need.
For instance, the Akhuwat Foundation provides loans ranging from 5,000 to 50,000 Pakistani Rupees, while the Alkhidmat Foundation offers loans ranging from 10,000 to 30,000 Pakistani Rupees.
Kasf Foundation provides loans starting from 8,000 up to 50,000 Pakistani Rupees, and Saylani Welfare International Trust offers loans ranging from 5,000 to 25,000 Pakistani Rupees.
Which banks in Pakistan offer instant cash loans through their online apps, and what loan amounts do they provide?
Several top banks in Pakistan provide instant cash loans through their online apps. e.g
UBL offers loans starting from 10,000 up to 500,000 Pakistani Rupees through its “UBL Go-Green Loan” feature.
HBL’s “Quick Loan” service offers 10,000 to 500,000 Pakistani Rupees.
MCB Bank’s “Personal Loan” option extends loans from 20,000 to 2,000,000 Pakistani Rupees.
Bank Alfalah’s “Alfa Quick Loan” feature offers 10,000 to 250,000 Pakistani Rupees loans.
Other banks like Meezan Bank, Standard Chartered Bank, Askari Bank, Faysal Bank, and Soneri Bank also provide varying loan amounts through their online platforms.
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