You call it a JazzCash loan or ReadyCash loan; it is the same service.
It’s basically an easy loan service for the masses in Pakistan who can get hold of quick cash without any hassle conventional banks create for people like complicated documentation.
Just like the EasyPaisa loan service that we have covered on our site, the JazzCash’s ReadyCash loan is a really quick process that includes;
- Dial the ReadyCash code from your mobile
- Choose the desired ReadyCash amount
- Get the funds in your JazzCash mobile account.
Uh… simple is that.
Note: If you haven’t installed the JazzCash mobile app or are not a JazzCash mobile account user yet, the tutorial here can teach you an easy step-by-step process.
How much ReadyCash Loan can I get?
It’s a microloan facility that can allow you to get a minimum of PKR 100 up to PKR 10,000 in maximum.
How to apply for ReadyCash Loan?
The process is simple, and it just takes a few seconds. It happens digitally, way faster than Telenor’s EasyPaisa Loan that requires you to make an additional call to their call center.
In the case of JazzCash, there is no need to make a call. So here are the steps.
- Dial *786# from your mobile phone – you need to have a Jazz SIM.
- A couple of options will pop up on your screen; select “ReadyCash,” which should be number 4 on the list.
- Select Apply for ReadyCash
- Choose the desired ReadyCash loan amount
- Enter MPIN to confirm acceptance of terms and conditions
- Done. Jazz will process your ReadyCash loan application.
Home loan and business loan schemes in Pakistan
What are the charges for the ReadyCash loan?
JazzCash does not charge fees based on percentage; instead, it is a fixed amount per the loan you apply for.
It charges PKR 5 per week on a PKR 100 loan, and the charges increase as the loan amount goes up. For example, PKR 10,000 loan has a weekly fee of PKR 500.
The following table can give you some idea; you can find the complete list of charges on the JazzCash site.
| Loan Amount | Weekly Fee |
| 100 | 5 |
| 200 | 10 |
| 1000 | 50 |
Similar charges are applicable at the outstanding amount if you choose to make partial repayments.
For how long can I take the loan?
JazzCash provides loans for 30 days, but if you fail to pay on the due date, the system will automatically extend the due date by one week.
You can avail of the extension for four consecutive weeks.
JazzCash clarifies that if a customer still does not clear the dues, it will put the name on the blacklist that denies any future dealing with JazzCash. Additionally, the bank will send the details to the State Bank defaulter list through the eCIB system.
How many times I can take the loan?
You can keep taking subsequent loans after repaying the previous ones. JazzCash only allows running a single loan until it is paid back entirely.
How to repay the ReadyCash loan?
Like getting the loan amount, the repayment is more straightforward and similar.
If you don’t pay manually, JazzCash will deduct the amount from your JazzCash mobile account automatically on the due date along with the interest amount.
JazzCash advises maintaining a balance in your account that you can refill through your nearest JazzCash agent, through another bank account, or using the ATM.
Here are the steps.
- Dial *786# from your mobile phone
- Select the option ReadyCash on your screen
- Select Repay ReadyCash option next.
- Next, select whether you want to repay the full payment or partial payment from the two options- option 1 or 2.
- After entering the MPIN – security code – you will get a confirmation SMS right away.
How to view your payment history?
- Dial *786#
- Select option 4 – ReadyCash
- And then select on your next screen, ReadyCash payment history.
You can also call on 4444 for getting in contact with a JazzCash customer support person
