The Akhuwat Foundation Loan Scheme is a prominent microfinance initiative based in Pakistan, designed to provide interest-free loans to help the underprivileged, enabling them to start or expand small businesses, improve their livelihoods, and achieve financial independence. Akhuwat operates on the principle of solidarity and brotherhood, rooted in Islamic values that prohibit interest-based financial transactions.
Akhuwat Foundation offers a unique opportunity to individuals and communities in Pakistan through its interest-free loan programs. These loans help people achieve their goals and improve their lives without the burden of interest.
How to Apply for an Akhuwat Loan:
1. Visit the Akhuwat Foundation website and navigate to the “Interest-Free Loans” section.
2. Choose the right loan program for you (e.g., family enterprise, education, health).
Check if you meet the eligibility criteria:
- Pakistani citizen
- Valid CNIC
- Proof of income
- Ability to repay the loan
Prepare required documents:
- CNIC copy
- Proof of residence
- Proof of income
- Business plan (if applying for a business loan)
1) Fill out the application form online or visit the nearest Akhuwat branch.
2) Submit the application and required documents.
3) Akhuwat staff may contact you for an interview or verification.
4) If approved, attend a meeting to sign the loan agreement and receive the loan amount.
5) Repay the loan in installments as agreed upon.
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 |
Akhuwat Loan Offices in Pakistan:
Akhuwat Foundation has offices across Pakistan. Find your nearest office in:
- Punjab
- Sindh
- Khyber Pakhtunkhwa
- Balochistan
Visit the Akhuwat Foundation website for more information and to apply online.
Family Enterprise Loan
– Loan Amount: Rs. 10,000 to Rs. 50,000
– Loan Duration: 10 to 36 months
– Profit Rate: 0% (no profit or interest charged)
– Interest Rate: None (interest-free loan)
– Fees:
– Initial Application Fee: Up to Rs. 200
– Post Approval Application Fee: None
– Mutual Support Fund Contribution: Optional, 1% of loan amount
Agriculture Loan
– Loan Amount: Rs. 10,000 to Rs. 50,000
– Loan Duration: 4 to 8 months
– Profit Rate: 0% (no profit or interest charged)
– Interest Rate: None (interest-free loan)
– Fees:
– Initial Application Fee: None
– Post Approval Application Fee: None
– Mutual Support Fund Contribution: Optional, 1% of loan amount
Liberation Loan
– Loan Amount: Rs. 10,000 to Rs. 100,000
– Loan Duration: 10 to 36 months
– Profit Rate: 0% (no profit or interest charged)
– Interest Rate: None (interest-free loan)
– Fees:
– Initial Application Fee: Up to Rs. 200
– Post Approval Application Fee: None
– Mutual Support Fund Contribution: Optional, 1% of loan amount
Education Loan
– Eligibility: Students who have completed post-matriculation education up to Master’s level
– Loan Amount: Rs. 10,000 to Rs. 50,000
– Loan Duration: 10 to 24 months
– Profit Rate: 0% (no profit or interest charged)
– Interest Rate: None (interest-free loan)
– Fees:
– Initial Application Fee: Up to Rs. 200
– Post Approval Application Fee: None
– Mutual Support Fund Contribution: Optional, 1% of loan amount
Application Process:
- Eligibility: Applicants must be from low-income households and demonstrate a genuine need for financial assistance.
- Loan Amount: The loan amount typically ranges from PKR 10,000 to PKR 50,000, depending on the borrower’s needs and purpose.
- Documentation: Basic documentation is required, such as identification (CNIC in Pakistan) and proof of residence. The process is simple to make it accessible to a larger population.
- Disbursement: Once approved, loans are disbursed in a community setting, usually in a mosque or a local center. This promotes accountability and community trust.
Impact:
Akhuwat has emerged as one of the largest interest-free microfinance providers globally, with millions of borrowers benefiting from its loan schemes. The foundation has helped individuals establish small businesses, pay for education, cover healthcare expenses, and improve their overall economic condition.
Through these programs, Akhuwat aims to reduce poverty, promote financial inclusion, and create a more equitable society.
Abdul Moiz
My name is Abdul Moiz and I proudly serve as a blogger and freelance guide. I am providing you with comprehensive information about the remarkable Ehsaas program. This initiative was launched by the PTI-led government in March 2019. Rest assured, I am committed to delivering reliable and up-to-date news pertaining to the Ehsaas program.