Akhuwat Foundation Car Loan

The Akhuwat Foundation Car Loan is an interest-free financing program designed to help individuals purchase vehicles for personal or business use. In a country where transportation is a major challenge, Akhuwat’s initiative aims to provide affordable vehicle financing without the burden of interest rates or heavy loan terms.

Why Choose Akhuwat Car Loan?
Most traditional car financing options come with high-interest rates, processing fees, and strict eligibility criteria. The Akhuwat Car Loan removes these barriers by offering a Shariah-compliant, interest-free loan to eligible applicants, making it easier to own a car, motorcycle, or commercial vehicle.

Key Features of Akhuwat Car Loan
✔ 100% Interest-Free – No markup or hidden fees.
✔ Flexible Loan Amount – The loan covers motorcycles, small cars, and commercial vehicles.
✔ Easy Repayment Terms – Installments are small and manageable.
✔ No Collateral Required – Unlike banks, Akhuwat does not ask for property or assets as security.
✔ Quick Processing – Faster approval process compared to traditional bank car loans.
✔ Encouraging Self-Employment – Ideal for ride-hailing drivers, delivery workers, and small businesses.

Who Can Apply for the Akhuwat Car Loan?
This loan is ideal for:
✅ Salaried individuals who need a vehicle for daily commuting.
✅ Ride-hailing drivers (Careem, Uber, Bykea, etc.) looking for car financing.
✅ Small business owners who require a vehicle for business operations.
✅ Delivery riders who need a motorcycle for their work.
✅ Freelancers or remote workers who need reliable transport.

Eligibility Criteria
To qualify for the Akhuwat Car Loan, an applicant must:
✔ Be a Pakistani citizen with a valid CNIC.
✔ Have a stable income source to ensure loan repayment.
✔ Provide two local guarantors.
✔ Show a valid reason for requiring the vehicle (work, business, personal transport, etc.).
✔ Be committed to repaying the loan in equal monthly installments.

How to Apply for the Akhuwat Car Loan?
To apply for an interest-free car loan from Akhuwat, follow these simple steps:

1. Visit Your Nearest Akhuwat Branch
– Find the closest Akhuwat office and request a Car Loan application form.

2. Complete the Application
– Fill out the form with personal, financial, and vehicle details.

3. Attach Required Documents
– Copy of CNIC
– Proof of income (salary slip or business records)
– Guarantor details
– Quotation for the vehicle (from an authorized dealer)

4. Loan Assessment & Approval
– The Akhuwat team will review your financial standing and loan need.

5. Loan Disbursement
– Upon approval, funds will be provided directly to the vehicle seller or dealer.

Loan Repayment Process
Borrowers must repay the loan in small monthly installments through:
✔ Akhuwat collection centers
✔ Bank deposits where applicable
✔ Community payment networks

Success Stories of Akhuwat Car Loan Beneficiaries
✅ A university professor in Lahore received an interest-free loan to buy a small car for his daily commute.
✅ A delivery rider in Karachi secured funding for a motorcycle, enabling him to increase his earnings.
✅ A local businessman in Peshawar expanded his transport business with a small van funded by Akhuwat.