Top-3-Loan-Apps-In-Pakistan

Top 3 Loan Apps In Pakistan (5K-50K Urgent Cash) {Interest-free}

In Pakistan, borrowing money through traditional banking can be a time-consuming and complicated process, especially for those who require small, short-term loans for urgent cash needs.

However, with the advent of technology and the increasing popularity of digital banking, various loan apps have emerged in the Pakistani market.

These loan apps offer quick and convenient access to loans ranging from Rs. 5,000 to Rs. 50,000, without the need for lengthy documentation or collateral.

In this article, we will discuss the top 3 loan apps in Pakistan that provide urgent cash loans to their users.

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Loan Apps In Pakistan | Fori Loan App | Loan Apps In Pakistan Without Interest

Top-3-Loan-Apps-In-Pakistan-5K-50K-Urgent-Cash
Top-3-Loan-Apps-In-Pakistan-5K-50K-Urgent-Cash

Table of Contents

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!

On top of that, most loan apps provide greater flexibility in terms of loan amount and terms, allowing you to pay off your loan quickly and with lower interest rates.

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!

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Akuwat Foundation Loan App

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
Akhuwat-Foundation-Loan-App

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 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 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 App

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-Loan-App
Alkhidmat-Foundation-Loan-App

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

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Kashf Foundation Loan App

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.

Kashf-Foundation-interest-free-loans
Kashf-Foundation-interest-free-loans

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, 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 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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Pros And Cons Of Getting A Loan Via Loan Apps

Pros Of Getting A Loan Via Loan Apps

  • Convenience: One of the most significant advantages of getting a loan via loan apps is convenience. Loan apps provide users with a quick and straightforward way to apply for loans without having to visit a bank physically.
  • Quick approval: Another advantage is the quick approval process. Unlike traditional banks, loan apps use algorithms to process loan applications quickly. This means that applicants can receive approval within a matter of hours, or even minutes.
  • Fewer requirements: Loan apps have fewer requirements than traditional banks, which makes them accessible to a broader range of people. For example, many loan apps do not require collateral or a high credit score.

Cons Of Getting A Loan Via Loan Apps

  • Higher interest rates: One of the major drawbacks of getting a loan through loan apps is the high-interest rates. Since loan apps cater to people with lower credit scores or those without collateral, the interest rates on their loans are often higher than those offered by traditional banks.
  • Hidden fees: Another disadvantage of loan apps is the potential for hidden fees. Some loan apps may charge additional fees, such as processing fees or late payment fees, that may not be immediately apparent to the borrower.
  • Security concerns: There is also a risk of security concerns with loan apps. Since borrowers provide their personal and financial information to the app, there is a risk that this information may be compromised or stolen.
  • Limited loan amounts: Loan apps usually offer smaller loan amounts than traditional banks, which may not be sufficient for larger financial needs.

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List Of Loan Apps Blocked In Pakistan | 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 app 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. It is essential to exercise caution and verify the legitimacy of any financial app before using it to safeguard one’s personal and financial information.

FAQs | Loan Apps In Pakistan

The maximum loan amount which 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 authority, 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 Akhuwat Foundation?

Akhuwat Foundation provides PKR 50.000 interest-free loan 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, Akhuwat Foundation provides loans ranging from 5,000 to 50,000 Pakistani Rupees, while 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 are the loan amounts 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 loans ranging from 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 loans from 10,000 to 250,000 Pakistani Rupees.
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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