In this article we give you complete detail about different microfinance bank which working in Pakistan, hope so this article will be very beneficial for you. best microfinance banks in pakistan.
To know about list of microfinance bank first you should need to know about what is microfinance bank
Microfinance bank is a bank which help unemployed or low income or business needed entrepreneurs by giving loan so that they can do or increase their work and make their source of income. In some countries and region poverty rate is high and people are unable to start their business or do their own work that’s why microfinance bank was introduced to help such kind of people.
Microfinance bank takes interest according their loan amount and repayment with their interest rate and within decided period, this interest rate is much lower amount than other bank loan interest rate.
Microfinance bank mostly work in developing countries like Uganda, Indonesia, Honduras, Serbia and Pakistan. According World bank more than 500 million people get benefited from microfinance bank loan.
Difference between bank and microfinance= Microfinance bank gives loan to most needy employers or businessman without having any assets but the others banks give loan by taking some collateral as a security.
Benefits of Microfinance bank
Here we will explain different benefits of microfinance bank before explaining about list and names of microfinance bank which are given below
• It improves credit reported bureau.
• Giving source of capital
• Help entrepreneur to success their business
• It creates jobs, trade and economic improvements
• They help people to full fill their financial needs
• They provide collateral free loan
• Providing housing loans, business loans and working capital loans
• Self-sufficiency among lower income group
List of Best Microfinance bank in Pakistan
Now we will give you a complete detail about different microfinance bank which working in Pakistan.
- FINCA Microfinance bank
- Khushhali microfinance bank
- NRSP microfinance bank
- Telenor microfinance bank
- First microfinance bank
- U microfinance bank limited
- Mobilink microfinance bank
- Pak Oman microfinance bank
- Advans microfinance bank
Now we give you a complete detail about working, locations and other detail about these all banks.
1.FINCA microfinance bank
FINCA microfinance bank gives many a lot variety of loan products and give loan to individual, small and medium size business entrepreneurs. Microfinance bank launched two online app SimSim and FINCA through which you can pay utility bills, mobile top up, send and receive money in money it also provides an audio facility which guide their customers at every step.
Microfinance bank work with a lot number of partners which are
• UNIVERSITY OF CENTRAL PUNJAB
• PAKISTAN HUMAN CAPITAL FORUM
• AUTOSOFT DYNAMICS LIMITED
• UBL OMNI
• 1 LINK
Address microfinance bank work in all provinces of Pakistan like Punjab, KPK, Baluchistan, SINDH, Gilgit Baltistan and Azad Kashmir. We tell you address the main head office of FINCA microfinance bank which instituted in Lahore
- Head office 36-B, Khayaban-e-Iqbal – xx block DHA phase-|||, Lahore Pakistan
- Helpline number 042-111-111-562
- Website: https://www.finca.pk/
2.Khushhali microfinance bank
Khushhali microfinance bank was the best microfinance bank in Pakistan and get 5th best microfinance bank award in 2020. It was the basically part of Government Islamic republic.
It gives loan to small and medium size business entrepreneurs. It has different products which are loan, saving accounts, insurance, internet and mobile banking, Remittance and other products.
- Address: Khushhali bank branches instituted in all over the cities of Pakistan.
- Head office= 55-C – 5th floor – Ufone tower – Jinnah avenue – Blue Area – Islamabad.
- Helpline number; 051- 111 047 047, +92 (51) 2310554
- Website: https://www.khushhalibank.com.pk/
3.NRSP microfinance bank
NRSP microfinance bank working as a leading bank, and provides loan to poor and needy people and landless farmer to fulfill their short time needs. This bank also provides their banking job services to their needy clients including government and private institutions. It working from 2011 in Pakistan and thousand of people get benefit from this bank loan.
It has different products like loan, savings and deposit accounts, insurance and debit cards.
You can apply for a loan from any nearest branch or call helpline number to get information about loan and mark up rate. NRSP mark up rate is much lower than other microfinance bank interest rate.
- Address=Microfinance bank branches are situated in all over the cities of Pakistan.
- Head office= NRSB microfinance bank limited, near Baghdad railway station – university road – Bahawalpur 6300 – Pakistan.
- Phone number: +92-62-2285126
- Fax number: +92-62-2280051
4.Telenor Microfinance bank
Telenor Microfinance bank was introduced from Tameer bank. It was founded in 2006 by Nadeem Hussain from Karachi. Easy paisa app was Telenor Microfinance bank app which work online as a mobile wallet, this app was introduced for the facility of their customers. Telenor microfinance bank work all over the world.
- Address: Telenor microfinance bank recently announced their head offices in Lahore and Karachi.
- Phone number; +92 211 11 826 337
- Website: https://www.telenorbank.pk
5.First Microfinance bank
First Microfinance bank provides loan to individuals to improve their living conditions and can start their own earning source. This bank gives priority for education purposes so that children and young people can get education and promote their country and their living standards.
It has different products which are loan, insurance, deposits, banking on education, other products and services.
- Address: Like other microfinance bank first microfinance bank has many branches in all over the cities of Pakistan.
- Head office= 16th & 17th floor,
- Habib bank Tower – blue area Islamabad.
- Phone number; (051) 111362362
- Fax number; (+92-51) 2821817
- website: [email protected]
6.U microfinance bank
U microfinance bank was completely owned by Pakistan telecommunication company PTCL, which was the famous telecom network in Pakistan. It has more than 200 network touch points within 183 cities and rural areas. It has more than 45000 branches and agents which working in Pakistan and provide services to their users.
It has different products like microfinance loan, product deposits and branchless banking system.
- Address= (Head office)= (2nd floor 13-B/ Jinnah super market /F-7, Islamabad.)
- Call center number= +92 51 111-282-265
- Fax number: +92 51 2275923
7.Jazz Mobilink microfinance bank
Mobilink microfinance bank was the biggest digital microfinance bank, it has 27 million registered users and 10 million plus digital wallets. In 2019 this bank received 2nd best digital microfinance bank award. It has more than 100,000 branches and agents which working in Pakistan and provide their services. Its online app Jazz cash working as mobile wallet like as easy paisa app.
It has different products which are
• ATM / Debit card
• Islamic insurance
• Branchless banking
• Home remittance
• Different insurance plans
• Internet banking and mobile app
• Microfinance Loans
• Online tax collection
- Address: Head office= 3-A/2 F-8 Markaz Islamabad
- Phone number= 051 2817070 77
- helpline number= 051 – 111 962 962
- website= [email protected]
8.Pak Oman microfinance bank
Pak Oman microfinance bank was founded in 2006 and its provides more than 500 million capital in Pakistan.
It has different services which are
• Group lending
• Individual lending
• Deposit product
• Product broachers
• Schedule of charges
- Address:Headoffice(20/C/KhayabaneNishat/Itehad Commercial/Area /Phase VI /DHA Karachi.)
- Phone number= 092 21 35172381-5
- Fax number= 092 21 35172396
9.Advans microfinance banks
Like other microfinance bank you can get loan from Advans microfinance bank for small business.
In this article we give you detail about many microfinance banks from which you can take loan in time of need and fulfill their needs and can start their small business from this amount. Hope so this article will be very beneficial for their users who want to take loan without having capital for security.
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