Akhuwat New Loan Scheme Opens

Akhuwat Foundation interest free loan program is for the people with Pakistani citizenship and can apply all over in Pakistan. Different loan products have different money range although it varies from 50000 to 150000 Rupees. The price of the application is 200 except agriculture which don’t have any application form rupees The first step for the loan, a man gets the interest free loan Akhuwat Foundation loan application form from Qard-e-Hasan and after the Download write down the required stuff and send it to the AIM branch near your home. The unit manager verifies your loan application and reviewed any additional information that may be required and verifies that all documents were necessary for loan approval. 

Products:

Family Enterprise Loan

Agriculture Loan

Liberation Loan

Housing Loan

Education Loan

Health Loan

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Marriage Loan

Emergency Loan 

Family Enterprise Loan

Range: From Rs. 10,000 to Rs.50,000

Duration: 10 – 36 months

Profit Rate: 0%

Interest Rate: None

Initial Application fee: Up to Rs. 200

Post Approval Application fee: None

Mutual Support Fund Contribution: Optional 1% of loan amount

Agriculture Loan

Range: From Rs. 10,000 to Rs 50,000

Duration: 4-8 months

Profit Rate: 0%

Interest Rate: None

Initial Application fee: None

Post Approval Application fee: None

Mutual Support Fund Contribution: Optional 1% of loan amount

Liberation Loan

Range: From Rs. 10,000 to Rs.100,000

Duration: 10-36 months

Profit Rate: 0%

Interest Rate: None

Initial Application fee: Up to Rs. 200

Post Approval Application fee:  None

Mutual Support Fund Contribution:  Optional 1% of loan amount

Housing Loan

Range: From Rs. 30,000 to Rs.100,000

Duration: Up to 36 months

ProfIt Rate: 0%

Interest Rate: None

Initial Application fee: Up to Rs. 200

Post Approval Application fee: None

Mutual Support Fund : Optional 1% of loan amount

Education Loan

Also Read :Alkhidmat Foundation Interest Free Loan

Education Level: Post Matriculation up to Masters

Range:  From Rs. 10,000 to Rs. 50,000

Duration:  10 – 24 months

Profit Rate: 0%

Interest Rate: None

Initial Application fee: Up to Rs. 200

Post Approval Application fee: None

Mutual Support Fund Contribution: Optional 1% of loan amount

Health Loan

Range:  From Rs. 10,000 to Rs. 50,000

Duration:  10 – 24 months

Profit Rate: 0%

Interest Rate: None

Initial Application fee: Up to Rs. 200

Post Approval Application fee: None

Mutual Support Fund Contribution:  Optional 1% of loan amount

Marriage Loan

Range: From Rs. 10,000 to Rs.50,000

Duration:  10 – 24 months

Profit Rate: 0%

Interest Rate: None

Initial Application fee: Up to Rs. 200

Post Approval Application fee: None

Mutual support Fund Contribution:  Optional 1% of loan amount

Emergency Loan

Range:  From Rs. 10,000 to Rs. 50,000

Duration:  10 – 24 months

Profit Rate: 0%

Interest Rate: None

Initial Application fee: Up to Rs, 200

Post Approval Application fee: None

Mutual Support Fund Contribution: Optional 1% of loan amount 

Akhuwat Loan Scheme - Akhuwat Loan Online Application - Akhuwat Foundation Contact Number - Akhuwat Home Loan - Akhuwat Interest Free Loan - Akhuwat Foundation Loan Scheme

LOAN PROCESS

1. Eligibility Criteria for Loans
2. Following general points are compulsory for eligibility of loan:
3. Applicant should have valid CNIC.
4. Having the ability to run / initiate business activity having age between 18-62 years.
5. Applicant should have capacity to provide two guarantors other than family members.
6. Applicant should be resident of operational area of branch office which might be around 2-2.5 KM radius.

Application Submission

The loan process will start with the submission of application. The application fee may vary from scheme to scheme. The unit manager will then evaluate the application through eligibility criteria. Thus, these loans will be given out on social collateral. The following steps will be followed in application submission.

Applicant will visit nearest AIM branch along with his/her relevant documents (mentioned below) for submission of loan application.

The unit Manager will discuss with the applicant to check whether applicant falls under eligibility criteria of the scheme.

The potential candidates will submit loan application on prescribed form. Loan application will be provided and filled by AIM staff in branch office.

The unit manager will check documents and application will be processed after completion of required documents.

1. Personal responsibility

2. Two guarantors

3. Postdated cheques

4. Any additional collateral in a special cases.

Eligibility Criteria for Low-Cost Housing Scheme

To be eligible under the said scheme, the applicant must meet the following criteria of having;

Valid CNIC

• Age up to 60 years
• The applicant must be the owner of the land/house
• Valid ownership title or evidence of land/house (may include Registry, Inteqal, Fard, Allotment letter, or any other valid evidence deemed appropriate)
• Land size of 5 Marla or less or covered area which is not more than 1,360 sqft.
• Good social and moral character in a community
• Monthly household income up to Rs. 60,000.
• Residence in the operational area of AIM’s branch.
• Should have a clear credit history (if any).