Best loan app in Pakistan [ Barwaqt ] 2022

Barwaqt loan app Users can apply for personal loans up to Rs 50,000 whenever and wherever they like. It offers reliable and adaptable loan services.

Excellent financial service platform Barwaqt loan app is authorized by Pakistan’s Securities and Exchange Commission (SECP). In order to maintain your privacy and offer top-notch online services for smart credit loans, Barwaqt apply big data risk control technology for credit scoring assessment.

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Through secure systems, Barwaqt offers full online money without any mortgage. Barwaqt’s installment loan significantly lessens repayment strain.

Version 1.7.5
Updated on Oct 12, 2022
Requires Android 5.0 and up
Downloads 5,000,000+ downloads
Content rating Everyone
Permissions View details
Released on Jun 9, 2021
Offered by SeedCred Financial

The loan’s specifics are as follows

  1. Loan term: 91–180 days
  2. Loan Amount: 1,500 to 50,000 rupees
  3. APR (annual percentage rate) cap: 24%

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The following fees apply to the calculation of PKR 6000 during a three-month period:

Monthly markup rate: 24% / 12 = 2%
Total markup: PKR 6000*24%/12*3=PKR 360
Total Repayment amount: PKR 6000 + PKR 360 = PKR 6360
Monthly payment amount: PKR 6360/3=PKR 2120

Why choose Barwaqt?

  • Low Markup Rate Loans
  • Ensure the security of your data
  • There are several ways to get the loan amount.
  • Completely online and without a mortgage.
  • Installment repayment reduces the stress of debt.

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How to get a loan on Barwaqt?

  1.  On your smartphone, download Barwaqt from the Google Play store.
  2.  Enter your cell phone number when registering.
  3.  Complete the application by entering your personal information, taking a clear photo, and submitting it.
  4.  After waiting for permission, the payment is made.
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