Akhuwat HBL New Loan Scheme 2023
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Akhuwat Foundation’s interest free loan program is for Pakistani citizens and can apply all over Pakistan. The amount limit of different loan products varies though it varies from Rs 50000 to Rs 150000. Application fee is 200 except agriculture which has no application form Rs.First step for loan, a man gets interest free loan from Qard Hasan Akhot Foundation loan application form and after downloading write the required equipment and Send it to your nearest AIM branch. The Unit Manager verifies your loan application and reviews any additional information that may be required and verifies that all documents were required for loan approval.
Introduction:
Government of Pakistan, in collaboration with Pakistan Poverty Alleviation Fund (PPAF) and Partner Organizations (PO’s) has launched an Interest Free Loan scheme under which low income families whose Poverty score card up to 40 will be provided with interest free loans up to Rs.50, 000.There is a steering committee which is overviewing the whole Project. Under Prime Minister’s Interest Free Loan (PM-IFL) Scheme, a total amount of Rs. 3.5 billion has been provided to PPAF and PPAF has disbursed that fund to Partner Organizations. In this regard, Akhuwat Islamic Microfinance (AIM) has been selected as a Partner Organization by PPAF.
Eligibility Criteria:
Applicant having the proper business plan.
Applicant having Poverty Score Card up to 40.
Having age between 18- 60 years.
Applicant should have valid CNIC.
Applicant should be economically active.
Applicant should not be convicted of any criminal offence in lieu of which proceeding are in progress.
Applicant should have good social and moral character in his community.
Applicant should have capacity to provide two guarantors other than family members.
Salient Features of Project:
Interest free loan facility is only for certain UCs which are reserved as per NFC rules.
The maximum loan size will be PKR. 50,000
A person with a poverty score card of 0-40 will be provided with a loan.
Loans are disbursed to mosques/churches to ensure transparency and participation.
There is no markup or interest on these loans.
Loans are disbursed on first come first serve basis after screening and evaluation as per eligibility criteria.
Major Objectives of the Project:
Making interest free loans available to poor, vulnerable and marginalized people on a scale 0-40 on Poverty Score Card.
Ensuring the loans are used for productive purpose to increase income of borrowers/households.
Allocating 50% loans to women for their inclusion in economic activities.
Encouraging behavioural change among beneficiaries of scheme.
LOAN PRODUCTS OFFERED
Family Enterprise Loan
Agriculture Loan
Liberation Loan
Housing Loan
Education Loan
Health Loan
Marriage Loan
Emergency Loan
Akhut Family Enterprise Loan 2023
Range: Rs.10,000 to Rs.50,000
Duration: 10-36 months
Profit Rate: 0%
Interest Rate: None.
Initial Application Fee: Up to Rs. 200
Application Fee After Approval: None.
Mutual Support Fund Contribution: Optional 1% of loan amount
Akhuwat Agriculture Loan 2023
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
Akhuwat Liberation Loan 2023
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
Akhuwat Housing Loan 2023
Range: 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
Application Fee After Approval: None.
Mutual Support Fund: Optional 1% of loan amount
Akhuwat Education Loan 2023
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
Brotherhood Health Loan 2023
Limit: Rs.10,000 to Rs.50,000
Duration: 10-24 months
Profit Rate: 0%
Interest Rate: None.
Initial Application Fee: Up to Rs. 200
Application Fee After Approval: None.
Mutual Support Fund Contribution: Optional 1% of loan amount
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LOAN PROCESS
Eligibility criteria for loans
Applicant must have valid CNIC.
Ability to run/start a business activity between the ages of 18-62 years.
Applicant should be economically active.
The applicant must not have been convicted of any criminal offense for which proceedings are pending.
The applicant should have good social and moral character in his community.
The applicant should have the ability to provide two guarantors other than family members.
The applicant should be a resident of the operational area of the branch office which may be around 2-2.5 km radius.
Note:- Project specific eligibility criteria may vary.
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.
Unit manager will discuss with the applicant to check whether applicant falls under eligibility criteria of the scheme.
Potential candidate will submit loan application on prescribed form. Loan application will be provided and filled by AIM staff in branch office.
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 special case.
Akhuwat All Branches List 2023
Akhuwat Loan Contact Number 2023
042-111-448-464
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