[Akhuwat Vs Alkhidmat Foundation] (5-10 Lakh) Loan Without Interest In Pakistan

We have short-listed Pakistan’s top 2 welfare organizations for comparison, that provide a 5 to 10 lakh loan without interest for emergency, education, and for agriculture.

Comparison between Akhuwat and Alkhidmat Foundation would be done on the following parameters:

  • Eligibility Criteria
  • Maximum Loan Limits
  • Document Requirements
  • Application Procedure
  • Fee/Charges & Time Taken To Process Applications and more.

After reading this article, you will be able to make the right choice for getting a loan without interest in Pakistan according to your needs.

Having stated that, let’s start our comparison guide!

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[Akhuwat Vs Alkhidmat Foundation] | How To Get an Interest-Free Loan In Pakistan


Table Of Contents

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Akhuwat Vs Alkhidmat Foundation Loan Comparison

Organization OverviewAkhuwatAlkhidmat Foundation
Founding Mission:Founded in 2001, Akhuwat aims to eradicate poverty through the Islamic principle of Mawakhat (solidarity), inspired by Prophet Muhammad’s (PBUH) teachings in Medina. This foundation gives loans without interest.Alkhidmat Foundation is a network of dedicated volunteers, donors, and staff committed to improving the lives of the most vulnerable, including orphans, widows, and the unemployed, through relief and development efforts. Alkhidmat Foundation Provides loans without interest.
Akhuwat Vs Alkhidmat Foundation Loan Comparison

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Eligibility Criteria Comparison

These are the eligibility criteria for Akhuwat and Alkhidmat Foundation for loans without interest In Pakistan.

Eligibility CriteriaAkhuwatAlkhidmat Foundation
CNIC Requirement:Must have a valid CNIC.Applicants must possess a valid CNIC.
Age Range:Age between 18-62 years.Maximum age at loan maturity: 60 years.
Economic Activity:No criminal convictions are pending.Salaried, self-employed, or professional in public and private sectors.
Criminal Record:Must be a resident within 2-2.5 KM radius of the branch office.No specific mention.
Social/Moral Character:Good standing in the community.Not specified.
Guarantors:Requires two guarantors outside the family.Not specified.
Residency:Must be a resident within a 2-2.5 KM radius of the branch office.Not specified.
Income Proof:Not specified.No specific income proof requirements.
Credit Rating:Not applicable.Not applicable.
Eligibility Criteria Comparison

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Document Requirements Comparison

Here is the document required for Akhuwat and Alkhidmat Foundation for loans without interest.

Document RequirementsAkhuwatAlkhidmat Foundation
Identification:Copies of CNIC for applicant and guarantors, Copy of Nikahnama, Latest PhotosValid CNIC or NICOP
Residential Proof:Latest Utility BillsUtility bills or rental agreement
Income Proof:Not specifiedSalary slips for employed, Bank statements for self-employed
Employment Verification:Not specifiedEmployment letter/certificate, Business registration documents
Guarantor Information:CNIC copies and contact detailsCNIC or NICOP of guarantors
Loan Application Form:Not specifiedCompleted loan application form
Additional Documents:Not specifiedEducational certificates, Medical reports, Business plan/proposal
This amount of Loan Without Interest In Pakistan.

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Maximum Loan Limit Comparison


Here is the Maximum Loan Limit for Akhuwat and Alkhidmat Foundation for loans without interest.

Loan DetailsAkhuwatAlkhidmat Foundation
Loan Range:Rs. 10,000 to Rs. 50,000Up to PKR 150,000
Duration:10-24 months24 months
Profit Rate:0%0%
Interest Rate:NoneNone
Initial Application Fee:Up to Rs. 200Up to Rs. 200
Post Approval Application Fee:NoneNone
Mutual Support Fund Contribution:Optional 1% of loan amountOptional 1% of loan amount
Maximum Loan Without Interest Limit Comparison

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Loan Application Comparison

Loan Application ProcessAkhuwatAlkhidmat Foundation
Program Introduction:Introduction to the loan program.Not specified.
Application Submission:Potential borrower submits application form.Review and approval process by the foundation.
Social Appraisal:Staff conducts a social appraisal of the borrower.Staff evaluates the borrower’s business proposal.
Business Appraisal:The Loan Approval Committee approves the loan.Not specified.
Second Appraisal:Approval notification sent to the borrower.Not specified.
Loan Approval:Senior staff conducts secondary evaluations.Support services are available.
Guarantor Provision:Loan disbursed to the borrower at a mosque.Not specified.
Loan Disbursement:Disbursement to the designated account.Repayment according to the agreed schedule.
Monitoring:Loan recovery is handled at the Akhuwat office.Not specified.
Repayment:Repay the loan as per the terms.Mutual Support Fund contribution is optional.
Recovery:Loan recovery is handled at the Akhuwat office.Not specified.
Optional Contribution:Support was provided throughout the process.Contribution to Mutual Support Fund optional.
Support:Support services are available.Support services available.
Loan Application Comparison

My Recommendation (Bottom Line)

Both Akhuwat and Alkhidmat Foundation are excellent choices for loans in Pakistan because they offer interest-free options.

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All You Need To Know About Loan Without Interest In Pakistan (Q&A)


Is Akhuwat Foundation Real or Fake?

Akhuwat, founded in 2001 by Dr. Amjad Saqib, is a best interest-free microfinance institution in Pakistan. It operates under the Islamic principle of Mawakhat. As a not-for-profit organization, Akhuwat provides loans without interest charges. It’s registered as a legal entity in Pakistan, the United States, the UK, Canada, and Sweden, and has begun collaborations in Nigeria, Uganda, and Afghanistan for global expansion.

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What Are The Services Of Alkhidmat Foundation?

Alkhidmat Foundation Pakistan is a non-political and non-profit organization dedicated to serving humanity, especially vulnerable groups like orphans. They aim to improve people’s health, education, livelihood, shelter, and overall well-being. Alkhidmat Foundation Pakistan is the best organization that helps people in many ways:

  • Disaster Management:
  • Health Services:
  • Education Support:
  • WASH Programs:
  • Orphan Care:
  • Mawakhat:
  • Community Services etc:

Can Muslims Pay Interest?

Both Akhuwat and Alkhidmat Foundation follow Islamic principles, which do not allow the paying or receiving of interest. By offering loans without interest, these foundations help people. This amount of Loan Without Interest In Pakistan.

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Can Muslims Get A Bank Loan?

While some Muslims may consider student loans halal in certain limited situations, they typically involve paying or interest, which goes against Islamic teachings. As a result, many Muslims view student loans as prohibited (haram) due to their interest-bearing nature.

Which Bank Account Is Halal?

The Alfa Saving Islamic Account offers an Islamic digital savings solution where customers can deposit their money and earn daily profits without Riba (interest), by Islamic principles. These profits are disbursed monthly, providing customers with a way to grow their savings.

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FAQs | Loan Without Interest

Which Foundation Gives Loan Without Interest?


TheseFoundation Gives Loan Without Interest:

Akhuwat Foundation
Alkhidmat Foundation

How much amount of Loan Without Interest in Pakistan?


Akhuwat and Alkhidmat Foundation offer Loan Without Interest with easy repayment terms to support individuals in need. Akhuwat provides loans without Interest of Rs. 10,000 to Rs. 50,000, while Alkhidmat Foundation offers loans up to PKR 150,000. Both organizations have repayment periods of 10-24 months and do not charge any profit or interest. The initial application fee for both is up to Rs. 200, with no additional fees after approval. Customers also have the option to contribute 1% of the Loan Without Interest to the Mutual Support Fund, although this is optional. This amount of Loan Without Interest in Pakistan.

What are the Akhuwat Foundation loan program and loan services?


Akhuwat Foundation offers a loan without interest for different purposes. The Family Enterprise Loan ranges from Rs. 10,000 to Rs. 50,000, repayable in 10 to 36 months. Agriculture Loan provides financing from Rs. 10,000 to Rs. 50,000, repayable in 4 to 8 months. Liberation Loan offers from Rs. 10,000 to Rs. 100,000, repayable over 10 to 36 months. Housing Loan caters to housing needs with funding from Rs. 30,000 to Rs. 100,000, repayable within 36 months. This amount of Loan without interest in Pakistan.

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