Akhuwat Loan- Interest-Free Loan – Online Apply Update (January 2023)

Akhuwat Loan- Interest-Free Loan – Online Apply is a charitable organization established in 2001, grounded in the Islamic principle of Muwakhat, which signifies solidarity. Its mission is to offer interest-free loans to individuals facing financial hardship, including those seeking to initiate small businesses. This is an Islamic financial service that operates entirely without interest. We are here to provide you with comprehensive information on obtaining these loans.

The registration for the Akhuwat Loan Scheme 2023 is now open, and supported by the Government of Pakistan. This initiative allows all economically disadvantaged Pakistanis to access loans from the Akhuwat Foundation, completely free of interest. The following information outlines the essential requirements and procedures mandated by the Foundation. Akhuwat Foundation’s core objective is poverty eradication in Pakistan through the provision of interest-free loans to people across the country.

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Akhuwat Loan – Interest-Free Loan – Online Application 2023

For those interested in applying for the Akhuwat Loan Scheme 2023, online registration is now available. We will guide you through the application process, including details on loan amounts available for building a house on a five-marla plot.

To apply online, visit the official website, download the application form, and provide a comprehensive explanation of your purpose and plan. Submit the completed application to the nearest Aim office in your vicinity. Once your application is reviewed, you will receive instructions on the necessary documents for loan approval.

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Akhuwat Loan – Interest-Free Loan – Online Application 2023

You can also explore the Prime Minister Youth Loan program.

To be eligible for an Akhuwat loan, you must meet specific criteria, including owning a five-marla plot, preferably of 360 square yards. The application process involves a thorough examination, investigation, and neighbor inquiries to determine your character, financial responsibility, and ability to repay the loan.

The AIM lending policy facilitates interest-free loans through group lending, and the naming convention depends on the project’s unique requirements.

Apply For Loan

Eligibility Criteria for Interest-Free Loan

  • Valid identity card
  • Age between 18 and 62 years
  • Active economic status
  • No involvement in criminal activities
  • Good social standing and character
  • At least two references, including family members and senior government officials.

Important Documents Required for Application

  • Copy of CNIC (front and back)
  • CNIC copies of two guarantors (mandatory)
  • CNIC of family member in the absence of outside guarantors.

Akhuwat Loan – Interest-Free Loan – Online Application 2023

These documents are essential for applicant identification, verification within the management information system, and for loan recovery purposes.

You can also explore the BMO Harris Express Loan Pay option.

Key Steps in the Akhuwat Loan Scheme

  1. Initiate the application process and pay the required application fee.
  2. Compile all necessary documents and visit the nearest Aim branch to submit your loan application.
  3. Program Manager reviews the provided documents and approves eligible applications.
  4. Eligible candidates receive the approved application form and assistance in fulfilling all requirements.
  5. Manager reevaluates all documents before proceeding with the application.
  6. Loan approval typically takes three to four weeks.
  7. Loans are disbursed in a ceremonial event, often held in a mosque.

The Akhuwat Loan Scheme is designed to support individuals from economically disadvantaged backgrounds, enabling them to engage in productive economic activities. For those without existing businesses, this scheme offers free loans with manageable repayment options. You may also explore the Jazz Cash Loan for further financial assistance.

Loan Type

Loan TypeRupee Range in PKRDurationApplication Fee in PKR
Family Enterprise10,000 to 50,00010 to 36 Months200
Agriculture10,000 to 50,00004 to 08 MonthsNot
Liberation Loan10,000 to 100,00010 to 36 Months200
Akhuwat Housing Loan30,000 to 100,000Up to 36 Months200
Education10,000 to 50,00010 to 24 Months200
Health10,000 to 50,00010 to 24 Months200
Marriage10,000 to 50,00010 to 24 Months200
Emergency10,000 to 50,00010 to 24 Months200
Equipment and build School25,000 to 150,000Up to 36 Months200

BISP Basic Information Required

InformationDetails
Contact  Number0800-26477, 051-9246326
Address Benazir Income Support Program, Block F, Pak Secretariat, Islamabad, Pakistan
Registration Document RequiredCNIC, B-Forms, Mobile No, Gas/Electricity Bill, Home Rent Agreement if Available.

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