Eligibility Criteria for Loan Applications

At Sarmaya Microfinance, we aim to provide accessible financial services to eligible individuals in Pakistan. To ensure fairness and compliance with regulatory standards, we have established the following general eligibility criteria for all loan products. Please review these requirements carefully before submitting your loan application.

General Eligibility Requirements

To qualify for any loan from Sarmaya Microfinance, the applicant must meet the following criteria:

1. Age
   • The applicant must be between 21 to 60 years of age at the time of application.
2. Nationality
   • The applicant must be a Pakistani citizen or have valid residency status in Pakistan.
3. Income Source
   • The applicant must have a regular and stable source of income, which may include salary, business profits, or other lawful means of income.
4. Minimum Monthly Income
   • The applicant must have a minimum monthly income of PKR 50,000 or more. This applies to salaried employees, business owners, or self-employed individuals.
5. Bank Account
   • The applicant must have a valid bank account in their name. Loan funds will be directly deposited into the applicant’s bank account upon approval.
6. Credit History
   • Applicants should have an acceptable credit history. While a previous credit issue does not automatically disqualify applicants, a good credit history improves the chances of approval.
7. Proof of Identity
   • Applicants must provide a valid CNIC (Computerized National Identity Card) as proof of identity.
8. Proof of Address
   • The applicant must provide valid proof of residence, such as utility bills, bank statements, or a rental agreement in their name.
9. Employment/Business Verification
   • If employed, the applicant must provide salary slips or bank statements showing regular income.
   • If the applicant is self-employed or owns a business, they must provide evidence of business operation (e.g., business registration, utility bills in the business name, or proof of business income).
10. Loan Amount and Repayment Capacity

• • Applicants must demonstrate the ability to repay the loan through their income sources. Loan amounts and repayment terms will be based on the applicant’s financial capacity and income level.

Required Documents for Loan Application

To ensure a smooth application process, applicants are required to submit the following documents:

1. Valid CNIC (Computerized National Identity Card).
2. Proof of Income: Salary slips, bank statements, or business financials.
3. Proof of Address: Utility bills, bank statements, or rental agreements.
4. Bank Account Details: Bank account number where the loan will be disbursed.
5. Additional Documents: Any other supporting documents may be requested based on the loan type.

Loan Application Process

The process to apply for a loan with Sarmaya Microfinance is straightforward:

1. Sign Up / Log In:
   Create an account or log in to our online platform to begin the loan application process.
2. Choose Loan Type:
   Select the loan product you wish to apply for (e.g., business loan, personal loan, etc.).
3. Complete Application Form:
   Fill in the online application form with accurate personal, financial, and loan details.
4. Upload Documents:
   Submit the required documents (proof of identity, proof of income, proof of address, etc.).
5. Application Review:
   Our team will review your application and supporting documents to assess eligibility.
6. Loan Disbursement:
   Upon approval, the loan will be directly disbursed to the applicant’s bank account.

Important Notes

• All loan applications are subject to verification and a credit assessment.
• Incomplete applications or missing documents may result in delays or rejection of the loan.
• Loan amounts and repayment terms will be based on the applicant’s financial capacity and the loan type.
• Personal information provided during the application will be kept confidential and processed in accordance with our privacy policy.
• The loan approval decision is at the sole discretion of Sarmaya Microfinance.

Contact Us

For more information or if you need any assistance with the loan application process, please feel free to contact our support team:

• Email: support@sarmayamf.com
• Phone: ‪+92 323 5420352