Tez financial services Pakistan started from around 2016 to 2017 they have started their loan services in Pakistan for nano loans, savings, insurance and bima policies.
They are calling it as advance cash for their loan services. if you want to apply for Tez financial services advance cash loans you must be a 18 year old with having a identity card approved by nadra Pakistan.
How to apply for Tez financial services loans?
Applying for the Tez financial services advance cash loan you need to download the financial services application from play store App store.
Follow the below mentioned steps to get a loan from Tez financial Services.
- Download the App
- Open the app and create your account follow the instruction given by the application.
- The App will require you to enter your cnic and mobile number.
- Continue for further process.
- Now you need to capture your cnic front and back pictures.
- After successfully uploading the CNIC front and back picture the App will acquire you to submit your selfie with holding a cnic in your hand and capture a selfie then upload to the app.
- After submitting all the details the App will allow you do continue towards your account dashboard for applying advance cash.
- On first time you need to link your mobile wallet which can be easypaisa jazzcash or Sim Sim.
- For linking your wallet enter the mobile number which is linked to your mobile wallet enter the account pin after that your money wallet will be linked with their tez financial services to getting your advance cash to your wallet also for repayment of loans.
- On first time you need to provide your basic financial condition details for applying advance cash on Tez financial services.
- Such as your monthly income your expenses your source of income after providing all the valid details you will be granted with the allowable Eligibile limit of loan into your account.
- After some 15 to 20 minute of usual account KYC confirmation if you are eligible for advance cash the app will allow you to apply for advance cash which is based on your financial condition.
- The advance limit is based on your details you provided while applying for advance cash.
- Usually Tez financial services allow the new loan requesters for 1000 PKR.
After tapping on the advance cash option you will be receive your advance cash into your mobile linked wallet after accepting of loan terms and conditions.
Tez Loan Tenures
Currently Tez financial services are only allowing for up to 35 days loan tenure for Upto PKR 10,000.
You can choose for loan tenure while applying for advance cash with acceptable applicable fees applying on your advance cash based on loan tenure when you repay the loan.
let’s suppose if you are allowed for limit 1000 rupees advance cash you will be charged 200 rupees + 20 rupees of processing fee when you pay the the lone back to Tez financial services amount you will be charged which is around 1200 PKR.
Based on their loan charges they are charging around 20% of loan interest which is far higher rates in the market.
The fee and interest they are charging is also far high and it’s haram for Muslim because in Islam the amount charging upon giving money to others and charging upon return a specific amount which is already decided upon given loan in Islam is called سود and it is Haram.
Tez financial services are operating in Pakistan and Pakistan is the Islamic republic so according to Islamic laws interest is haram and people should not be considered it as a native service and it’s not helpful for Pakistan’s Nation in fact getting loan or advance cash from tez services is considered in Islam as attempted sin.
You can also investigate through your local resources via scholars and searching on internet that the amount Tez financial services is charging upon loan is it halal or Haram.
Tez Investment, Saving, insurance.
tez investment savings insurance are still in under progress development phase they are scheduling this for future launch and their customers will use it in future for their benefits.
Tez financial services are claim to be approved by security and exchange commission of Pakistan and they have link database with the Pakistan banking system and financial institutions.
What happen if you will no repay the Tez financial services loan?
According to laws and regulatory authorities the person or entity who will not repay the loans of banks approved by government called as defaulter and they will be not able to again apply for loans from any institution of country.
if you have related questions about loans and advance cash by Tez financial services or you have question about interest rate and fee processing you can comment as we will answer you shortly.
If you think that the fee/amount they are charging upon giving loans is not Haram and we are not right in that condition please must write upon this topic with the strong source of reference in the comment section we like to hear from you.