In this article, we present a list of legitimate online loan apps in Pakistan that provide interest-free loans ranging from PKR 50K-100K in urgent cash needs, without any hassle, to deserving applicants who require short-term loans, and how to apply for it.
These loan apps provide you 50000 loan in Pakistan or more, anytime, anywhere through mobile phone.
You can get an online urgent loan in Pakistan 50,000 rupees with 0% interest to fulfill your immediate financial needs anytime anywhere without visiting physical offices and lending institutions.
Once, this process used to be extremely time-consuming, but now through digital banking and numerous loan lending apps, it has become very convenient for individuals who need zero-interest urgent cash loans, without the process of lengthy and complex paperwork.
Also read: How To Quickly Get 50,000 Loan In Pakistan {20K-200K} (Interest-Free)
Remember that not every loan app in Pakistan is interest-free and authentic, and many people fall victim to scams.
In this article, we will provide you with a list of top interest-free loan apps in Pakistan, explain how they work, and offer a comprehensive guide on how to get an interest-free loan of PKR 50,000 to PKR 100K to fulfill your urgent cash requirements.
Note: These loan apps in Pakistan offer entirely interest free loans to fulfill urgent needs
In this context, we have not covered traditional loan apps. Instead, we have highlighted top welfare organizations in Pakistan that deposit money directly into the accounts of deserving candidates, offering interest-free loans ranging from 50,000 to 100,000 Pakistani rupees who reside anywhere in Pakistan.
Also read: 7 Best Instant Loan Apps In Pakistan 2023 with Low Interest Rates
Here is the list of trusted organizations that offer PKR 50K-100K (up to 1-2 Lakh) without any interest.
Note: These are reputable organizations that work through their physical office locations, official websites, and best loan apps in Pakistan.
Let’s explore the options of online loan apply in Pakistan from 50,000 to 500,000 rupees through digital loan application.
Top 3 Loan Apps In Pakistan Without Interest | 50K-100K Urgent Loan
⦁ Akhuwat Foundation.
⦁ Kashf Foundation.
⦁ Alkhidmat Foundation.
⦁ Saylani Welfare Trust.
Also read: Business Loan In Pakistan With 0% interest | Best Low interest Loan In Pakistan
Following are the Top 3 loan apps in Pakistan that give interest-free loans with their eligibility criteria.
Loan Apps In Pakistan | Fori Loan App | Top 3 Loan Apps In Pakistan Without Interest
Whether you need an urgent cash loan or aim to improve your financial transactions. Here are the Top 3 loan apps in Pakistan to use today.
Akhuwat Foundation Best Loan App In Pakistan
As a non-profit organization, Akhuwat Foundation Loan App is one of the leading interest-free loan apps in Pakistan. The Akhuwat Foundation loan is based on an Islamic principle and adopts QARZ-A-HASAN which translates to “a beautiful loan”.
The Akhuwat Foundation provides loans with zero interest based on the beautiful belief that poverty cannot be eliminated by charging interest and doing business with the poor.
The Akhuwat organization was founded by Dr.Amjad Saqib in 2001, and he committed to dedicating the rest of his life to alleviating the suffering of the poor. He started designing and organizing the interest-free program, named ‘Akhuwat,’ which was the first of its kind in the country.
The Akuwat Foundation has played a vital role in the country’s socioeconomic progress.
Also read: Urgent 10K-1Lakh Digital Loan In Pakistan | Abhi-Your Salary Now Loan App
The Akuwat Foundation has positioned itself as one of the leading organizations of its kind in Pakistan in terms of interest-free loan apps.
Akhuwat Loan App Program Mission: To eliminate poverty by strengthening the social and economic well-being of Vulnerable communities through the provision of interest-free loans in Pakistan.
Akhuwat Loan App Program Vision: To create a poverty-free society in Pakistan, founded on principles of compassion and equity, with a focus on interest-free loans.
Moreover, the Akhuwat Foundation’s interest-free loan app has made it incredibly convenient for borrowers in need of interest-free loans online.
Akhuwat Foundation loan app is the best not-for-profit loan app to get an online urgent loan in Pakistan. Borrowers can easily apply for loans without the burden of interest charges.
The main objective of this loan app is to assist individuals who may not have access to conventional banking services or who are seeking interest-free loans.
The Akhuwat Foundation is the Best Loap App in Pakistan that provides a range of interest-free loans to meet the needs of borrowers.
Also read: Best low interest loan app in Pakistan | EasyPaisa Loan App
You can apply for 20000 rupees loan through Akhuwat Foundation urgent loan app in Pakistan or more for quick cash needs. Here are the different types of loans offered through the Akhuwat Foundation Loan App with 0% interest rates:
Family Business Loan: This loan is intended for individuals who want to kickstart or expand their family’s small businesses for better growth. The loan generally falls within the range of 10,000 PKR to 50,000 PKR.
Loan Duration: Family Enterprise Loan time duration is between 10 to 36 months.
Agriculture Loan: The Akhuwat Foundation offers interest-free loans to farmers ranging from 10,000 PKR to 50,000 PKR. These loans provide financial support to boost agricultural activities, and productivity, and meet working capital requirements for sowing, harvesting, and other agricultural purposes.
Loan Duration: Agricultural Loan time ranges from 4 to 8 months.
Also read: How To Get 75 Lakh Interest-Free Agriculture Loans In Pakistan {5-75Lakh} Safe Loans
Release Loan: This type of Akhuwat Foundation loan is designed for individuals seeking financial help to support their income-generating opportunities or striving to break the cycle of poverty. The release or libration loan falls within the range of 10,000 PKR to 100,000 PKR with zero interest.
Loan Duration: Release Loan time frame falls within 10 to 36 months.
Housing Loan: This interest-free loan caters to the housing needs of individuals looking to renovate their homes or families in need of funds for the construction and renovation of their homes. The home loan offered by the Akhuwat Foundation ranges from 30,000 PKR to 100,000 PKR.
Loan Duration: Housing Loan time duration is up to 36 months.
Education Loan: This loan is offered to deserving students who cannot afford their education expenses and belong to a low-income family background. This type of loan, intended for educational purposes, ranges between 10,000 PKR to 50,000 PKR, and more.
Loan Duration: Education Loan period covers 10 to 24 months
Health Loan: This loan is provided to unprivileged individuals who are afflicted by serious illness and lack the funds for their treatment. The loan range for health and medical purposes is between 10,000 PKR to 50,000 PKR, provided by the Akhuwat Foundation loan app with zero profit interest.
Loan Duration: Health Loan extends between 10 to 24 months.
Marriage loan: This loan is provided to those in need of funds to arrange marriage ceremonies or for their daughters’ dowries. Marriage loans typically fall between the range of Rs. 10,000 to Rs. 50,000.
Loan Duration: The Health Loan timeframe lies within 10 to 24 months.
Emergency Loan: The interest-free loan app by the Akhuwat Foundation also offers emergency loans to marginalized individuals facing sudden crises such as business losses, medical expenses, or funeral bills. The range for emergency loans starts from PKR. 10,000 to PKR. 50,000.
Loan Duration: Emergency Loan duration ranges between 10 and 24 months.
Akhuwat Foundation’s outstanding performance has benefited over 4.6 million people nationwide, making it one of the largest organizations in Pakistan.
The Akhuwat Foundation loan app adheres to Islamic principles, ensuring that loans provided to borrowers are free from interest.
To avail of interest-free loans through the Akhuwat Foundation loan app, borrowers must meet certain eligibility criteria.
Loan applicants are commonly evaluated based on factors such as their income level, capacity for repayment, and the aim of the loan.
Akhuwat Foundation Contact information
Website: The official Website of Akhuwat Foundation is https://www.akhuwat.org.pk
Helpline: For inquiries, contact the Akhuwat Foundation via their helpline at 042-111- (448-464).
Email: Applicants can also connect via email at info@akhuwat.org.pk.
Address: Akhuwat Foundation, 19 Civic Centre, Township, Lahore, Pakistan.
Alkhidmat Foundation Loan App Without Interest
Alkhidmat Foundation Pakistan operates as a nonprofit, non-political, and sovereign humanitarian organization.
It was established in 1990 with a vision to serve humankind guided by principles of integrity, the organization is committed to assisting disadvantaged communities and providing aid to those underprivileged individuals affected by disasters.
Driven by a vision of building a secure, educated, and healthy society, the Alkhidmat Foundation has dedicated more than three decades to providing basic essential necessities such as healthcare, education, responding to emergency situations, and ensuring food security for the unprivileged and those in need in Pakistan.
Also read: Paisayaar Loan App | Get 1k-25K Urgent Personal Loan Via Mobile In Pakistan
The Foundation aims to alleviate the suffering caused by physical disabilities, poverty, and imprisonment through its various community programs and to promote the spirit of brotherhood
Alkhidmat Foundation Pakistan has successfully achieved its goal by initiating diverse humanitarian projects across the country.
As a non-profit organization, Alkhidmat Foundation provides interest-free loans through the “MAWAKHAT PROGRAM” for poor families, with loan amounts ranging from PKR 50,000 to PKR 500,000, benefiting underprivileged and needy individuals.
Alkhidmat Foundation also offers convenient online loans through their digital loan app, providing instant cash loans to individuals facing urgent financial needs through a streamlined application process.
Also, the Alkhidmat online loan app in Pakistan provides interest-free loans with 0% mark up rate.
Alkhidmat Foundation is a without interest Loan App in Pakistan that offers a range of loan types. These are:
Qarz-e-Hasna Loan: Alkhidmat Foundation offers interest-free loans ranging from PKR 50,000 to PKR 500,000 to individuals in need who aspire to enhance their financial situations without incurring interest fees.
Agriculture Loan: This loan option provides financial assistance to farmers, helping enhance agricultural productivity, and increase yields with loan amounts ranging from PKR 50,000 to PKR 500,000. These loans can be used for acquiring farming equipment, fertilizers, livestock, or for covering operational expenses.
Microenterprise Loan: Ranging from PKR 50,000 to PKR 500,000, this loan option is specifically designed to support and establish small businesses and entrepreneurs seeking interest-free loans to expand their businesses and build capital.
Liberation Loan: This interest-free loan scheme, ranging from PKR 50,000 to PKR 500,000, is offered to the most deprived and marginalized communities in Pakistan who seek freedom from debt and financial burdens. Alkhidmat Foundation aims to assist these individuals in overcoming their financial challenges.
Education Loan: This loan option of Alkhidmat Foundation, recognized among the best student loan apps, is specifically designed for students pursuing higher education, with loan amounts ranging from PKR 50,000 to PKR 500,000, this interest-free loan assists students and their families in covering tuition fees, accommodation, and other educational expenses.
Emergency Loan: Ranging from PKR 50,000 to PKR 500,000, this loan option provides quick and immediate financial assistance to individuals dealing with unexpected financial crises or hardships such as medical emergencies, natural disasters, or unexpected financial obligations.
Alkhidmat online loan application in Pakistan offers you instant loans without interest, ranging from 50,000 to 500,000 rupees.
Alkhidmat Foundation obtained its official non-profit notability in 1993, and since then, it has been committed to providing relief and developmental support to Pakistan’s most deprived and marginalized communities without any discrimination.
Alkhidmat is the best loan app in Pakistan to access interest-free loans for individuals who need immediate financial aid.
Currently, the Alkhidmat Foundation operates in all four provinces of Pakistan, serving marginalized communities, orphaned children, and impoverished families.
Alkhidmat Foundation Contact Information
Website: Official website of Alkhidmat Foundation https://alkhidmat.org.
Phone: You can contact Alkhidmat Foundation at +92-304-111-4222.
Help Line: Alkhidmat Foundation helpline is 0800 44 44 8.
Email: For inquiries, you can also email Alkhidmat Foundation at info@alkhidmat.org.
Address: Alkhidmat Foundation Pakistan, 711, Block J-2, Johar Town, Lahore, Punjab Pakistan.
Note: Alkhidmat Foundation operates numerous branches. You can access contact information for your specific branch on their official website.
Also read: SmartQarza Loan App- 25,000 Online Urgent Loan In Pakistan (SECP Verified)
Kashf Foundation Loan App
The Kashf Foundation loan program was established with the intention of providing instant, interest-free loans to deprived and struggling individuals, specifically designed to cater to the diverse needs of micro-women entrepreneurs seeking financial stability.
The main aim of the Kashf Foundation is to assist economically disadvantaged individuals, particularly women, in starting a business, generating income, and elevating their socioeconomic status.
Founded in 1996, the Kashf Foundation is widely recognized as a reputable non-profit organization, renowned for its diverse range of financial services and products, aimed at empowering the most marginalized families, especially women, in Pakistan.
Kashf-Foundation–Loan
The Kashf Foundation Loan App offers interest-free microfinance loan options quickly to individuals aiming to overcome their weakened financial conditions and to those who lack access to traditional banking services.
You can access a 10000 loan in Pakistan or more up to 500,000 rupees through Kashf Loan App without interest.
Below are the types of loans offered by Kashf Foundation without any interest, along with their loan amounts.
Qarz-e-Hasna (Interest-free loan): This type of loan offers interest-free financial assistance to low-income individuals, helping improve their socioeconomic status and supporting small-scale businesses, all without charging any interest
Individual Loan: Kashf Karobar Karza is the primary lending product designed for individuals who intend to start a small enterprise or wish to expand their existing business. With loan amounts ranging from PKR 10,000 to PKR 100,000, individuals can also manage their financial expenses such as medical needs, home renovation, or emergency crises.
Group Loan: This type of loan provides financial access to a group of individuals who may not have the capacity to establish a large business individually. The Kashf Foundation offers significantly higher loan amounts to those individuals, starting from as low as PKR 10,000 to PKR 500,000, enabling them to build a successful enterprise without incurring any interest.
Agriculture Loan: The Kashf Agriculture Loan, which ranges from PKR 10,000 to PKR 100,000, is Shariah-compliant and is specifically designed to assist farmers in improving the agricultural sector and for different purposes such as acquiring land, purchasing equipment, or covering other farming expenses.
Microenterprise Loan: Kashf Foundation provides interest-free loans to support individuals in various aspects of microbusiness operations. This loan type ranges from PKR 10,000 to PKR 500,000 and can assist in starting a new microenterprise, expanding an existing one, purchasing equipment or inventory, or covering working capital needs.
Livestock Loan: The Livestock loan of Kashf Foundation is specifically designed to assist individuals involved in livestock farming. Ranging from PKR 10,000 to PKR 100,000, this loan supports livestock producers in managing the financial aspects of their operations, including breeding and raising animals.
Also read: Exposing the List Of Fake Online Loan Apps In Pakistan 100+ {Updated}
Education Loan: Ranging from PKR 10,000 to PKR 100,000, Kashf Foundation also offers interest-free loans for educational purposes, providing financial access to low-income individuals who wish to advance their studies. Recognizing the value of education, this loan option from the Kashf Foundation assists students and families in covering academic expenses and meeting multiple educational costs.
Kashf Foundation is a dedicated online loan app in Pakistan to provide financial assistance and empower marginalized communities
Operating as a Non-Banking Microfinance Organization, Kashf has effectively contributed to the betterment of the socio-economic conditions of its customers and has played a crucial role in encouraging financial inclusivity in Pakistan.
Today, the Kashf Foundation proudly holds its position as Pakistan’s progressive microfinance organization both domestically and internationally.
Kashf Foundation Contact Information
Website: The Official website of Kashf foundation is https://www.kashf.org.
Helpline: the helpline of Kashf Foundation is 042-111-527-427.
Email: you can also email Kashf Foundation at info@kashf.org.
Address: Kashf Foundation, 64-L Gulberg III, Lahore, Punjab, Pakistan.
Saylani Welfare Trust Loan Apps
Founded in 1999, Saylani Welfare Trust International stands as one of the most esteemed and notable organizations in Pakistan.
Saylani Welfare Trust embarked on a remarkable mission to provide interest-free, instant cash loans with the aim of eradicating poverty and uplifting the social and economic conditions of the less privileged.
Its crucial mission is to provide support to the underprivileged in the lowest strata of society and extend a helping hand to those less fortunate in the lower echelons of the community, kindling a ray of hope in their lives with the aim of improving their financial status.
Through aid missions, Saylani Welfare organization aims to create a better world, especially for the middle class, lower middle class, and even the lower class.
What’s surprising is that today, the organization is actively engaged in various welfare services across more than 63 diverse spheres of life.
Saylani Welfare Trust Loan App offers an efficient, accessible, and convenient way to access interest-free loans for financially marginalized individuals to fulfill their credit needs, such as microenterprises, education expenses, or medical emergencies.
Here are the interest-free loan types offered through Saylani Welfare Trust Loan Apps.
Education Loans: For career-oriented students, Saylani Welfare provides education loans ranging from PKR 10,000 to PKR 200,000. This loan assists individuals seeking financial assistance to cover their educational expenses, including course materials, accommodation, and tuition fees, all without any interest.
Emergency Loans: Salylani Welfare offers interest-free emergency loans, ranging from PKR 10,000 to PKR 200,000, providing a reliable solution for individuals facing unexpected financial crises, including those affected by natural disasters or medical emergencies, as well as those in urgent need of cash loans.
Small Business Loans: Saylani Welfare offer interest-free small business loans aim to foster economic growth, strengthen local economies, and promote self-reliance. This loan option, ranging from PKR 10,000 to PKR 200,000, is designed to support small business owners and entrepreneurs by providing them with financial assistance to start or expand their businesses.
Health Loans: The health loan program of Saylani Welfare provides financial support to needy individuals to access essential medical services with zero interest. Although the exact loan amount range for health loans is not specified, it’s evident that Saylani Welfare deeply values the accessibility of healthcare assistance.
Saylani Welfare International Trust has tirelessly dedicated itself to fulfilling its commitment to serving vulnerable and deprived communities, both domestically and internationally, since 1999.
Saylani Welfare Trust’s outstanding accomplishments over 22 years include providing financial support to marginalized communities and offering free funds, and interest-free loans to the poor, with the aim of improving social mobility.
Contact Information of Saylani Welfare Trust International
Website: Official website of Saylani Welfare Trust International https://saylaniwelfare.com/
Phone: You can contact Saylani Welfare Trust International at +92-21-111-729-526 | 0311 1729526|
Fax no: The Fax No. of Saylani Welfare Trust International is +92-213- 4127693.
Email: For inquiries, you can also email Saylani Welfare Trust International at info @saylaniwelfare.com
Address: Saylani Welfare Trust International, A-25, Bahadurabad Chowrangi Karachi, Pakistan.
Also read: How To Get 25 Lakh Interest-Free Solar Panel Loan Meezan Bank Best Guide
How to get loan in Pakistan through mobile apps?
Several loan apps in Pakistan offers online loan through their mobile apps. You need to provide your CNIC, registered mobile number and any other required document to qualify for a loan through mobile apps.
Advantages Of Online Loan Apps In Pakistan
There are several advantages of online loan apps in Pakistan without interest. Some of them include:
- Quick and Instant Cash Loan Process
- Interest-Free Loans
- Islamic Financing
- Multiple Loan Options
- Easy Repayment options
- Time-Saving
- Fast Approval
- Immediate Application Tracking
- Mobile App Convenience
- Inclusivity and Accessibility
Quick and Instant Cash Loan Process:
Loan apps in Pakistan offer a convenient and trouble-free means of accessing funds in times of urgent cash requirements and emergencies. The application process is also quite simple and time-saving, leading to swifter approvals compared to traditional financial institutions
Interest-Free Loans:
Several online loan apps in Pakistan provide interest-free loans to borrowers in need of financial assistance, all without the burden of additional charges, making them a highly appealing financial solution.
Islamic Financing:
Many loan apps in Pakistan offer online loans in accordance with Islamic principles to empower financially underprivileged individuals, aligning with Shariah principles. These loans follow ethical guidelines idea for Shariah-compliant seekers.
Multiple Loan Options:
Several loan apps in Pakistan have multiple loan types with the flexibility to choose the right financial option for your needs. Whether it’s a personal loan, business loan, mortgage, education loan, or urgent cash loan, these platforms cater to a wide range of financial needs for borrowers.
Easy Repayment options:
Loan apps in Pakistan often provide the benefit of hassle-free repayment options, making it convenient for borrowers to manage their financial obligations and make timely repayments without hassle.
Time-Saving:
Online loan apps offer a time-saving benefit for borrowers, as they streamline the application process and provide quicker access to much-needed funds, eliminating the lengthy procedures required by traditional lending institutions.
Fast Approval:
Online loan apps stand out for their swift approval process, often granting borrowers the green light and allowing individuals to access funds within minutes, whereas traditional lending institutions may take days or even weeks for the same procedure. This convenience is particularly valuable in situations requiring urgent funds.
Immediate Application Tracking:
Many loan apps offer the convenience to borrowers to track their applications instantly, providing live updates on the loan application process. This feature ensures transparency and reassurance throughout the application process.
Mobile App Convenience:
Online loan apps, accessible through mobile devices, offer the convenience of applying for loans anytime and anywhere, providing borrowers with flexibility in managing their financial needs on the go.
Inclusivity and Accessibility:
Loan apps offer convenient accessibility to those who do not have access to regular banks, allowing them to borrow money in a traditional way. This normalization of credit empowers a wider range of underprivileged individuals to improve their financial situations.
Disadvantages of Online Loan Apps in Pakistan
Alongside the benefits of online loan apps in Pakistan, there are also some drawbacks, and a few of them include:
- High-Interest Rates
- Hidden Charges
- Limited Loan Amount
- Security Factor
- Pressure for Immediate Repayment
- App Scams
- Non-compliance with Islamic Principles
Also read: SECP Cancels License Of 3 Leading Online Loan Apps In Pakistan
High-Interest Rates
Some loan apps have high interest rates that can pose a significant financial burden on borrowers, possibly leading to debt accumulation. It’s necessary for individuals to carefully read the terms and conditions before using these loan apps to make an informed financial decision.
Hidden Charges
Some loan apps impose hidden fees on borrowers, such as processing charges or penalties for late payments, which is a major drawback, possibly resulting in unforeseen financial stress.
Limited Loan Amount
Certain online loan apps may impose restrictions on the maximum amount you can borrow, which may not meet the financial needs of borrowers.
Security Factor
There is also a security risk factor with loan apps because they have access to your financial and personal information, and the risk of data breaches is high, as some loan apps have been involved in scams.
Pressure for Immediate Repayment
Some loan apps exert pressure on borrowers for early repayment and may engage in harassing practices. This can create an unpleasant financial environment.
App Scams
Many fraudulent loan apps have appeared in the market that can defraud or deceive users.
Non-compliance with Islamic Principles
Loan apps that are not adhere to Islamic guidelines and principles may raise concerns for borrowers seeking Sharia-compliant financial options.
List Of Online Loan Apps That Are Scamming People In Pakistan
Online Loan Scamming Apps 2023
Taking advantage of loan apps in Pakistan, numerous online loan scamming apps have also found a foothold, guaranteeing quick and easy access to loans.
These scamming loan apps exploit individuals’ financial situations by creating fake schemes and luring them into their traps, making false promises of providing instant cash loans.
These loan scanning apps are targeting individuals’ financial needs and prey on them, trapping them in their deceptive attractive schemes.
These deceptive online loan apps demand advance payments from individuals in the name of providing instant loan access to them. However, in reality, borrowers fall into the trap set by these fake loan apps and end up being deceived.
These online scams not only result in inflicting financial losses but also erode trust in online services.
In this article, we will explore the world of online loan scamming apps, exposing their deceitful schemes, and how you can stay vigilant in this digital borrowing era.
List of Online Loan Scamming Apps in Pakistan
Below are the names of Online Loan Scamming Apps in Pakistan
- Credit Cat
- Asan Qarz
- Mrloan
- Kredit
- Zenn Park -Easy Instant Help
- Plati Loans
- PK Loan
- Fast Loan
- Bonga
- Easy Money
- Barwaqt
- CashBeam
- Asaan Qarza- credit loans
- B Cash
- AiCash
- Easy Loan
- Bee Cash
- Udhar Paisa
- CashMate
- Debit Campsite
- Yocash
- LendHome
- Apple Qist Qarz
- Galaxy Loan
- TiCash
Kindly note that the list provided above includes the names of online loan apps that are linked with scamming activities in Pakistan.
List Of Online Loan Apps Blocked By Ministry Of Finance In Pakistan | Online Loan Apps Banned List In Pakistan
The Ministry of Finance in Pakistan has taken strong action against online loan scamming by blocking multiple unverified loan apps engaged in fraudulent activities throughout the country.
These scamming loan apps posed as legitimate lending companies and exploited individuals in need of urgent loan assistance. These made false promises of providing fast loans and charged very high-interest rates.
Moreover, they used forceful tactics on vulnerable borrowers, trapping them in cycles of debt.
Why did the Ministry of Finance block several loan apps in Pakistan?
The safety measure taken by the Ministry of Finance in Pakistan against scamming loan apps aimed to ensure a safer and more reliable digital financial system for people across the country.
Other reasons for blocking fraudulent loan apps include:
Imposing High-Interest Rates:
Several loan apps imposed unreasonably high-interest rates, preying on vulnerable borrowers and entrapping them in never-ending debt cycles.
Personal Data Stealing: These apps improperly used borrower’s private information, posing a significant risk to personal data security.
Blackmailing Borrowers: Some loan apps involved unethical practices, such as pressuring and blackmailing borrowers who couldn’t repay on time, causing undue distress and putting pressure on them.
Misleading and Deceptive Advertising: Several loan apps used deceptive marketing tactics to lure borrowers with false promises of quick and easy loans, resulting in fraudulent practices and financial harm.
Identity Theft and Fraud: Online loan apps engaged in fraudulent activities and identity theft, leading to severe legal and financial consequences for borrowers.
Exploitation of Vulnerable Individuals: Some of these loan apps specifically targeted vulnerable borrowers, such as the elderly or financially distressed, and targeted them to unfair lending practices.
Fake Loan App List In Pakistan 2023 updated
Here is the updated list of fake loan app list in Pakistan that the Ministry of Pakistan has banned to safeguard individuals.
- HamdardLoan
- Sallam Loan – Online Loan App
- Easy Mobile Loans
- TiCash
- Loanclub
- Fast Loan
- 99 Fast Cash Loan
- Rico Box – Easy Apply Online
- Yocash
- Aasan Qarza- credit loans
- Plati Loans
- Mrloan
- UrCash
- Fair Loans
- Galaxy Loan
- Little Cash- Mobile Loans
- Fori Instant Loans
- Whale
- FinMore- Online Credit Loans
- 567 Speed Loan
- Qarza Pocket -Personal Funds
- Superb Loans
- ZetaLoan- Easy Credit Wallet
- Swift Loans
- Debit Campsite
- Loan Credit Cash
- CashPro-Immediate Approval
- LendHome
- Harsha Tube – Quick Money
- Fori Qarz Online Personal Loan
- Easy Loans Credit Fast Pay
- Rose Cash – Loan Cash
- Bee Cash
- Tazza Centre – Get Money Soon
- Zenn Park -Easy Instant Help
- Asaan Lab – Easy Apply Money
- Get Welfare
- CashCredit-Online Loan money bee
- Apple Qist Qarz
- BG Loan
- MyCash
- QuickCash
Note: Please be aware that this list of blocked loan apps may undergo changes because of ongoing measures and continuous examination by the Ministry of Finance. It is advisable to confirm the authenticity of any online financial app prior to its utilization, to protect against online fraud.
Loan Apps In Pakistan FAQs
The maximum loan amount I can get from online loan apps?
You can easily get PKR 10,000 to PKR 100,000 through loan apps, and it’s all interest-free. The specific amount you can get depends on the loan app you are using and varies from platform to platform.
Top 10 Loan Quick Cash Scamming Apps that are banned in Pakistan in 2023?
Here are the names of the Top 10 Loan Scamming Apps that were recently banned in Pakistan due to fraudulent activities in 2023:
- Yocash
- Loanclub
- Assan Qarza
- 99 Fast Cash Loan
- Rico Box – Easy Apply Online
- Superb Loans
- Fair Loans
- HamdardLoan
- Fori Instant Loans
- Little Cash
- Sallam Loan – Online Loan App
Are there hidden fees associated with loan apps?
Some loan apps may impose additional charges that are not clearly outlined in their terms and conditions beforehand. But This interest-free loan app does not charge any hidden fees integrated with loan apps.
Are loan apps in Pakistan interest-free?
Some Islamic financial loan apps in Pakistan, including those offered by Akhuwat, Alkhidmat, Saylani Welfare, and Kashf Foundation, provide interest-free loans. These non-profit organizations have the adopted Islamic principle of “Qarz-e-Hasna,” where loans are provided with zero interest.
The Prime Minister’s Kamyab Jawan Youth Entrepreneurship Scheme and the Pakistan Poverty Alleviation Fund (PPAF) also offer interest-free programs.
How can I build credit through loan apps?
Yes, several loan apps offer credit-building possibilities. You can build credit through loan apps by following these simple steps.
- By applying for a Small Loan.
- By paying timely installments.
- By avoiding overborrowing.
- By choosing reputable and trusted Loan Apps.
What are Online Loan Scamming Apps?
Online loan scamming apps are fraudulent mobile applications designed to deceive and defraud users. These online loan apps pose as legitimate loan providers and often promise quick and easy loans but aim to trap unsuspecting borrowers in an endless cycle of financial exploitation, leading to financial harm.
It’s recommended to thoroughly research any online loan app before using it to ensure you choose a reputable provider and avoid becoming a victim of these loan apps.
What are the advantages of using loan apps over traditional banking channels?
Loan apps often offer a streamlined application process, saving time and effort, fast approvals, lower fees compared to traditional banks, a variety of loan options, clear terms and conditions, and 24/7 accessibility. They eliminate the need for in-person visits to a bank branch and provide a streamlined digital experience.
How can loan apps benefit low-income individuals in Pakistan?
Loan apps allow low-income individuals to access financial services swiftly through their smartphones, even if they don’t have access to traditional banking services. These apps can provide low-income individuals with the necessary capital to start or expand their ventures, simplifying documentation for easier credit access.
Are loan apps in Pakistan safe to use?
It’s essential to note that while loan apps offer many benefits, they also come with risks. Some loan apps in Pakistan may impose high interest rates, mishandle personal information, and potentially lead borrowers into debt traps. Therefore, it’s crucial for individuals to conduct thorough research and verify a loan app before sharing any personal information.
What is the purpose of loan apps in Pakistan?
Loan apps in Pakistan provide individuals with quick and easy access to financial services, saving them time. These apps offer a range of loan options tailored to individual needs, including personal loans, education loans, agriculture loans, microenterprises, and more.
Do loan apps in Pakistan charge higher interest rates compared to traditional banks?
Some loan apps in Pakistan may impose high interest rates and hidden charges compared to traditional banking institutions. It is essential to carefully review the terms and conditions before applying to any loan app and compare them with other available options to choose the most affordable one.
Do loan apps offer flexible repayment options?
Loan apps often provide borrowers with the convenience of flexible repayment options. However, it’s essential for borrowers to fully understand the terms and conditions of these loan apps and make informed financial decisions to avoid falling into debt traps.
How can I identify a legitimate loan app in Pakistan?
Before using any loan app, ensure that it has been registered with the State Bank of Pakistan. Check reviews and feedback and make sure that the website adheres to legal policies.
Can I apply for multiple loans from different loan apps at once?
Yes, it is possible to apply for multiple loans from different loan apps simultaneously, but it’s important to manage your debt responsibly. Taking on too many loans can lead to financial difficulties and affect your credit score too.
What is the amount of interest-free loan offered by Akhuwat Foundation?
Akhuwat Foundation provides interest-free loans of up to PKR 100,000 to individuals across Pakistan.
Akhuwat loans do not charge any extra fees to applicants. You can apply for a loan via their loan app.
How can one obtain an interest-free business loan (Qarz-e-Hasna) via a loan app in Pakistan?
You can get a Qarz-e-Hasna/Interest-free loan amounting to PKR 300,000 Lakhs to PKR 500,000 from Kashf Foundation.
Interest-free loans amounting to PKR 500,000 are provided by the Kashf Foundation in a group lending format, i.e., by including friends/family members as co-applicants when applying for loans in Pakistan.
Is Alkhidmat Loan interest-free?
Yes, Alkhidmat loans are interest-free. Alkhidmat Foundation provides PKR 30,000 interest-free loans to the needy and unprivileged across Pakistan.
What should I do if I have been scammed by a loan app in Pakistan?
If you ever have been scammed by a loan app in Pakistan, you should instantly gather transaction records and report it to the Cyber Crime Reporting Portal of the Federal Investigation Agency (FIA) or the State Bank of Pakistan.
Which charitable organizations in Pakistan provide quick cash loans, and what loan amount do they offer?
Many welfare organizations in Pakistan provide quick cash loans to individuals in need.
Some of them include the Kasf Foundation, which offers loans ranging from 8,000 up to 50,000 PKR, and the Akhuwat Foundation, which offers loans ranging from 5,000 to 50,000 PKR.
Saylani Welfare International Trust provides interest-free loans from 5,000 to 25,000 PKR, while Alkhidmat Foundation provides loans starting at 10,000 up to 30,000 PKR
What are some common fraudulent activities associated with loan apps in Pakistan?
Some common fraudulent activities associated with loan apps in Pakistan include unauthorized withdrawals, fake loan apps, hidden fees, high-interest rates, and identity theft. Fraudulent loan apps may steal your personal information, such as your National Identity Card (NIC), and use it for illegal purposes.
What are the safety measures for using loan apps in Pakistan?
Some safety measures needed for using online loan apps in Pakistan include making punctual repayments to avoid penalties, avoiding over-borrowing, keeping records of loan transactions, reviewing a loan app’s privacy policy, verifying the authenticity of the loan app, and downloading apps from trusted sources.
What is the maximum loan amount available through a loan app in Pakistan?
The loan amount generally depends on the specific loan app you are using. Typically, loan amounts range from thousands to several hundred thousand Pakistani rupees.
How can loan apps in Pakistan be beneficial for borrowers looking to improve their financial situation?
Loan apps in Pakistan can be beneficial for the underprivileged or individuals looking to improve their financial condition by providing fast access to funds for emergencies, supporting entrepreneurs in small business initiatives, offering flexible repayment options, enabling educational opportunities, and contributing to society’s progress. Loan apps empower borrowers with limited access to traditional lending institutions to improve their financial status when used responsibly.
Which banks in Pakistan provide instant cash loans via their mobile apps, and what loan amounts do they offer?
Top banks in Pakistan that offer instant cash loans through their mobile apps and the respective loan amounts they provide include:
- UBL Digital App
- HBL Mobile App
- Meezan Mobile Banking App
- MCB Mobile App
- Askari Bank App
- Standard Chartered Bank
- Soneri Bank
- Faysal Bank
UBL Digital App: “UBL Go-Green Loan” program offers quick loans ranging from PKR 10,000 to PKR 500,000, depending on the individual eligibility.
HBL Mobile App: HBL’s “Quick Loan” feature offers instant cash loans starting from PKR 10,000 and going up to PKR 500,000.
Meezan Mobile Banking App: Meezan Bank offers quick loans through its mobile app, generally starting from PKR 10,000 to PKR 100,000 or more.
Bank Alfalah Mobile Banking App: “Alfa Quick Loan” service offers quick loan from 10,000 to 250,000 Pakistani Rupees.
MCB Mobile App: The “Personal Loan” program by MCB Bank allows borrowers to apply for immediate cash loans, typically starting at PKR 50,000 and going up to PKR 500,000 based on eligibility.
Other banks, such as Askari Bank, Standard Chartered Bank, Soneri Bank, and Faysal Bank, also provide quick loan amounts through their online loan apps.
What are the Top 3 Loan Apps To Get Urgent Loan In Pakistan?
Here are the online loan apps in Pakistan: Alkhidmat Foundation Loan App, Akhuwat Foundation Loan App, and Kashf Foundation Loan App that offer urgent loans without interest in Pakistan.
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