Interest Free loan in Pakistan 2023 | Loan With Markup

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Taking a loan has become absolutely necessary in Pakistan due to the financial crisis the people are going through. You need the loan to start your business or meet your health expenses. But the issue is that most of the loans charge interest, which is haram in Islam.

For non-Muslims, it’s just an additional cost that they may not want to pay in such struggling circumstances. That’s why I’m sure you’re looking for an interest-free loan in Pakistan. So, what are such loans that you can take? I’ll tell you about all of the best interest-free loans in Pakistan. Keep reading.

How to get loan without markup in Pakistan

Interest Free loan Providers in Pakistan

There are many interest-free loan providers in Pakistan. Let’s take a look at the best ones:

  • Khushhali Microfinance Bank: This is one of the best microfinance interest-free loans that you can get in pakistan. People who are struggling with the financial crisis should check it out.
  • Ehsaas Program loan scheme:  This is the Pakistani government-based loan program made for all the deserving people of pakistan. This loan gives interest-free loans of up to RS.100,000. 
  • Kamyab Jawan Program: Another amazing loan scheme that comes under Ehshas’s program is Kaymyab Jawan. In this loan, you can get up to RS. 50,000 loan interest-free. 
  • The Pakistan Poverty Alleviation Fund. It’s basically a specialised agency that offers interest-free loans to all deserving Pakistanis. 
  • Saylani Welfare International Trust: If you need to start your own business or pay for your child’s fees, you can get an interest-free loan from Saylani in pakistan. 

What about car loan providers? That’s what we’re going to talk about now.

Buy a Car on Installment in Pakistan

If you want to buy a car with a loan that you can pay in instalments, then you can consider the below-mentioned loans.

  • Bank Alfalah: The bank Alfalah offers you up to PKR 50 million to get your own car, which you can pay in instalments.
  • Meezan Bank: This is another bank that can provide you with up to PKR 30 million for getting your own car. You can then repay the amount in instalments with ease.
  • HBL: The third-best interest-free car loan in Pakistan is HBL, which can give you up to PKR 25 million to get your own car.

Buy House On Instalment In Pakistan

You don’t need to worry if you want to buy a house but don’t have money. The below-mentioned banks do provide home financing in Pakistan.

  • Bank Alfalah
  • Meezan Bank
  • Habib Bank Limited (HBL)
  • Standard Chartered
  • United Bank Limited (UBL)

Pros and Cons of Taking Loans

You must be aware of some pros and cons of interest-free loans in Pakistan. I’m going to walk you through each of them quickly. Let’s start with the Pros.


  • Save money on interest
  • Improve credit score
  • Access funds for those with poor credit
  • Support Islamic principles


  • Limited availability
  • Higher fees
  • Complex terms and conditions

These are the pros and cons of Interest-free loans in Pakistan that you can consider getting. That’s it. 


It is difficult to find interest free loan in Pakistan but still few banks and organizations offers you loan without markup and interest. We’ve listed some of the banks and their criteria which you need to meet before getting loan from them. Some banks offers loan in cash and some allows you to buy products and appilicance from them. You can also buy cars and houses from bank on installement. Banks pay for you in cash and you have to return them in a form of monthly installments. You can also start a business in Pakistan with low investment after getting loan from banks. Before applying to any bank for loan you must have to research and verify their terms of services.

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