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.
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.
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 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.
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