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Akhuwat Loan Scheme 2024 For House Apply Online Now | Application Guide

The details of the Akhuwat Foundation Loan Scheme presented in this article with a contact number. For Pakistanis to develop their stores and businesses, the akhuwat foundation created the akhuwat loan program for 2024. For the past 15 years, he has given out interest-free emergency loans regularly to people.

UBL Akhuwat Loan Scheme 2024 Online Apply

The main vision of Akhuwat loans is to fight poverty in Pakistan. His continuous efforts have led to the establishment of a low-income loan program, known as Akhuwat (Islamic Microfinance), in 2024. This program dedicated to helping our poor communities throughout the Islamic world.

How To Apply For Akhuwat Home Loan Scheme 2024

In the Akhuwat Loan Scheme 2024 Online Application, what is the amount of loan you could get if you wanted to build a house of 5 marlas. What is the number of monthly payments, how long can you take out a loan, and what are the rules and requirements for obtaining a loan?

The Akhuwat Loan Scheme 2024 explained in this comprehensive guide. Additionally, share this with friends and family who may want to build their own homes by 2024.

What Is The Akhuwat Loan Application Submission Process?

To apply for a loan, you need to fill out an application. Fees may vary depending on the scheme. A loan is granted to a person who meets the eligibility criteria. In this case, the loan will be covered by social security.

When applying, follow these steps:

To get a loan, an applicant will need to bring their relevant documentation (listed below) to an AIM branch:

  • A unit manager will discuss the applicant’s eligibility with them.
  • A candidate applies for a loan in the prescribed format. AIM staff at the branch will submit and complete the loan application.
  • An application will be processed once all documents have been verified by the unit manager.

Here is a list of collaterals that can be used to secure loans:

  1. Personal responsibility
  2. No less than two sureties
  3. Overdue Checks
  4. Additional security in a specific case.

Akhuwat Foundation Contact Number For Social Assessment

During social due diligence, the applicant’s residence is visited to verify his identity and credibility. An application is followed by a social assessment by the unit manager.

  • Existing borrowers’ information
  • Based on the applicant’s lifestyle
  • A neighbor’s opinion about the applicant
  • Interviews with family members or individuals

Loan Approval Committee (LAC):

Branches will have their own Loan Approval Committees (LAC). The committee chaired by a regional manager and members include department heads and a branch manager. It is responsible for reviewing all credit cases. The loan disbursed once the committee approves the claim. Usually, it takes around three to four weeks for the process to be completed.

Akhuwat Loan Scheme Detail And Its Head Office

The Loan Approval Committee (LAC) approves loans. Funds requested by regional managers. Moreover, transferring funds to the headquarters’ bank account for disbursement required. 

Area accountants are notified after funds transferred to their accounts. Checks for approved applicants prepared by the district accountant.

Loan Repayment Of Akhuwat Scheme 2024

Payment will take place once a month at a church or mosque event. A guarantor must accompany the applicant when applying for an individual loan. A group loan disbursed when all members are present.

Social Leadership Akhuwat Scheme Loan 2024

Disbursement activities held simultaneously with learning about social leadership. Having more capacity will enable the borrowers to perform their tasks more effectively and efficiently. In particular, they will be able to follow ethical principles.

The social agenda includes the following items:

  • The importance of educating girls
  • Providing services to the community at large
  • Environmental protection and improvement
  • Plantations have an important role to play
  • Observance of traffic laws and local ordinances
  • Maintaining the highest standards of ethical behavior in business

Recovery And Follow-up In Akhuwat Loan Foundation

In the following weeks, the client’s residence and workplace regularly visited by the unit manager. Every month, you must pay off your loan at the branch by the 7th. The unit manager will visit the client on the 10th if payment not received or visit www.akhuwat.org.pk application form by 2024. Furthermore, the guarantors contacted, if the payment not made, and asked to pay.

Akhuwat Loan Eligibility Criteria- Akhuwat Loan Application Form Online 2024

For an eligible male to receive a loan, the following items must be provided:

  • An original CNIC must be provided by the applicant
  • You must be between 18 and 62 years old and run a business.
  • Economic activity required of all applicants.
  • No criminal convictions can found against the applicant
  • The candidates have a good background and character
  • A minimum of two guarantors required, even if they are family members
  • Applicants must live within 2 to 2.5 kilometers of the branch office.
  • A loan application’s eligibility criteria may changed at any time by Akhuwat.

What Organization Offers Interest-free Loans?

The Pakistani government runs an institution which provides interest-free loans. You can also borrow money from the fraternity to build a house for a week.

How To Get A Loan? What Are The Conditions?

How much money borrowed, who will take it, what conditions will apply, etc.? Here is a website that you can view. So, this is a link for you to check out Akhuwat Loan Process. Download the Akhuwat Loan Scheme 2024 application form and apply online if you want to build a house.

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