TEVTA Akhuwat Interest Free Loan Application Form Eligibility Criteria

TEVTA Akhuwat Interest Free Loan application form eligibility criteria documents download here at from with last date for apply and registration procedure complete details. Akhuwat has launched another interest free loan scheme in Pakistan with the cooperation of TEVTA. Interest free loans will be given to TEVTA graduates under TEVTA Akhuwat interest free loan scheme 2017. TEVTA has established a special fund for this purpose.

Initially PKR 500 million have been provided for this fund. This fund transfer the finances to Akhuwat systematically for this scheme. This scheme is limited to Punjab province only. TEVTA graduates can start their own new business or expand their running business through interest free loan by Akhuwat. If you are a TEVTA graduate and have no funds to start your own business then apply for Akhuwat TEVTA interest free loan as its a 100% merit base scheme.

Akhuwat provides interest free loans to the economically poor so that they may acquire a sustainable livelihood. Interest free loans have formed the cornerstone of Akhuwat’s operation since its inception. It is a derivate of the practice of Qarz-e-Hassan which keeping in line with the teachings of Islam, is an interest free loan offered to those in need. In addition to ideological reasons, high interest rates may contribute to exacerbating the plight of the poor as recent global evidence has demonstrated.

For Akhuwat, by using money to earn money, not only does wealth remain concentrated in the hands of a few but the direction of financial flows remains from those who have little to those who have more. In keeping with the principles of equity and social justice, burdening the poor with exorbitant interest rates is also viewed as undermining the overarching goal of poverty alleviation.

Akhuwat Interest Free Loan SchemeTEVTA Akhuwat Interest Free Loan Application Form Eligibility Criteria

Akhuwat TEVTA Qarz e Hasna Scheme 2017-2018 download Akhuwat Loan application form, required documents & eligibility criteria procedure available here now. TEVTA Akhuwat Interest Free Loan Scheme registration form, across all Pakistan cities towns, districts.

Salient Features

  • Average Size of Loan – Rs.50000 to Rs 60000
  • Limit of Finance- Rs.10000 to Rs.100000
  • Mark Up Rate – 0%
  • Repayment Period from Borrowers – 30 Months
  • Mode of repayment – Monthly Installments
  • Application procession Fee – Up To 200 Rupees
  • Rate of Mutual Support Fund – Just 1% of the borrowed amount and it is also not mandatory.

Eligibility Criteria

  • Candidates must have valid CNIC.
  • Applicants must be economically active.
  • Applicants must have no criminal record. He must also not be a drug addict. Akhuwat will investigate both these points before the final approval.
  • Applicants must be TEVTA graduates and they must have training certificate.
  • Candidates will have to furnish a character certificate issued by the Principal of their TEVTA institute.
  • Applicants must be residents of operational areas of Akhuwat.
  • Applicants will have to provide guarantee of two persons. Theses persons should not be their relatives.
  • Family of applicant must be ready to pay back the loan.
  • General repute of candidate should be good in his locality,, school and training institute.
  • Following guarantees are accepted for TEVTA Akhuwat loan program;
    Personal
    Parents
    Two guarantors

Documents Required

  • Application form (Available in branch office)
  • Attested CNIC copy of applicant
  • Attested CNIC copy of applicant’s father or mother
  • TEVTA training certificate
  • TEVTA recommendation certificate
  • Two passport size recent colored photographs of applicants
  • Any utility bill of residence like electricity, water or Sui gas bill

Akhuwat Loan Application Form

You can get application form for Akhuwat TEVTA interest free loan scheme from any branch office of Akhuwat. For complete list of branch offices kindly visit Akhuwat List. We hope you will stay connected with our portal for latest updates about different interest free loan schemes in Pakistan.

 

One Response to “TEVTA Akhuwat Interest Free Loan Application Form Eligibility Criteria”

  1. aftab ahmad

    Aug 16. 2017

    mirpur ak

    Reply to this comment

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