Akhuwat Loan Requirements

Akhuwat Foundation is a non-profit organization in Pakistan that provides interest-free loans to help low-income individuals start small businesses or fulfill essential needs. The main goal of Akhuwat is to eliminate poverty and promote self-reliance.

If you want to apply for a loan from Akhuwat, you must fulfill certain conditions and provide some documents. In this article, we will explain in simple words what the Akhuwat loan requirements are.

1. Pakistani Citizenship

Akhuwat loans are only given to Pakistani citizens. You must have a valid CNIC (Computerized National Identity Card) issued by NADRA.

2. Age of the Applicant

The age limit for applying for an Akhuwat loan is usually between 18 and 62 years. People who are too young or too old may not be eligible for the loan.

3. Income Assessment

The applicant’s monthly income is reviewed to ensure they can repay the loan. If you have no income at all, you may not qualify. Akhuwat wants to ensure that loans are repaid so that other needy people can also benefit.

4. Purpose of the Loan

The applicant must clearly state the purpose of the loan, such as:

• Starting a small business
• Expanding an existing business
• Home repair
• Educational expenses
  etc.

5. Guarantor (Zamin)

To get a loan, one or two guarantors are required. These are people who can vouch for the applicant’s character and repayment ability. Guarantors must also have valid CNICs.

6. Community Reputation

Akhuwat usually provides loans through mosques or community centers. The applicant should have a good reputation in the local community to build trust.

7. Loan Amount and Repayment

Akhuwat usually provides loan amounts ranging from PKR 10,000 to PKR 100,000. Some special programs may offer higher amounts, such as:

• Educational loans
• Housing loans
• Health loans

The repayment period and monthly installments are decided based on the applicant’s income. Monthly payments are usually required.

8. Required Documents

You’ll need the following documents to apply for the loan:

• Copy of your CNIC
• Two passport-size photographs
• Electricity or gas bill (for address verification)
• Copy of the guarantor’s CNIC
• Business details (if applicable)

9. Application Process

Visit your nearest Akhuwat office to apply. Collect the loan form, fill it with accurate information, and submit it. After submission, Akhuwat’s team may visit your home or business for a survey.

If everything is in order, the loan will be issued to you within a few days.

10. Types of Akhuwat Loans

Akhuwat offers different types of loans, including:

• Business Loans (Microfinance)
• Education Loans
• Housing Loans
• Health Loans

Each loan type has its own limits and conditions, but the basic requirements are similar.

In Conclusion

If you are willing to work hard and need financial support to improve your life, an Akhuwat loan can be a great opportunity for you. Remember, an Akhuwat loan is not charity it’s a trust that must be returned on time so others can benefit too.

For more information, you can visit the Akhuwat website or contact your nearest branch.