The Ultimate Barwaqt App Guide: Features, Benefits & How It Works

Introduction

Imagine needing ₨15,000 urgently for a medical emergency. By afternoon, the money is in your account—no paperwork, no bank visits. This was Barwaqt promise: quick digital loans for its users.

But behind the convenience lay risks that forced regulators to shut it down. This guide unpacks Barwaqt features, how it worked, and why it’s now delisted. Stay informed to protect yourself from financial scams while exploring safer alternatives.

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What Was the Barwaqt App?

Barwaqt was a digital lending platform operated by Seedcred Financial Services Limited (SFSL). Launched in 2021, it targeted Pakistanis needing instant loans via a smartphone app. Users could borrow ₨1,500 to ₨25,000 with repayment terms of 61–90 days.

The Vision

Barwaqt aimed to replace traditional bank loans with a paperless process. Registration required only:

• A Pakistani CNIC
• Active mobile number
• Bank account or mobile wallet (JazzCash/Easypaisa)

💡 Useful Tip: Always verify a lender’s SECP registration before sharing personal data. Use SECP’s online portal for current licenses.

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Key Features of Barwaqt (Before Shutdown)

1. Lightning-Fast Approval

Loans were approved in minutes, with funds transferred directly to bank accounts. This made Barwaqt popular for emergencies.

2. No Collateral Needed

Unlike banks, Barwaqt required no property or guarantor. This helped students, daily wagers, and low-income groups access credit.

3. Flexible Repayment

Borrowers could repay via:

• Monthly installments
• Lump-sum payments
• Bank transfers or mobile wallets

4. Fully Digital Process

From CNIC uploads to e-signatures, everything was in-app. No branch visits were needed.

Barwaqt Loan Features Overview

Feature	Details
Loan Amount	₨1,500 – ₨25,000
APR	Up to 24%
Repayment Term	61–90 days
Security	Encrypted platform

⚠️ Warning: Despite claims of “encryption,” multiple users reported aggressive harassment for late payments.

How Barwaqt Works: Step-by-Step Process

Step 1: Download and Register

Users installed the Barwaqt app from third-party sites like Uptodown (since it wasn’t on Google Play). Registration required a mobile number and CNIC.

Step 2: Apply for a Loan

After profile verification, users selected a loan amount (e.g., ₨10,000) and term (e.g., 75 days). The app calculated interest upfront.

Step 3: Approval and Disbursement

Approval took minutes. Funds were sent to linked accounts, often within hours.

Step 4: Repayment

Auto-debit reminders were sent before the due date. Late payments incurred 5–7% daily penalties.

💡 Useful Tip: Never borrow from one loan app to repay another. This creates a debt spiral.

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Why Was Barwaqt Delisted?

In April 2025, the Securities and Exchange Commission of Pakistan (SECP) issued a critical alert:

• Barwaqt was delisted in August 2024. Its operator, SFSL, is non-operational
• Scammers now impersonate Barwaqt agents on social media, offering to “fix” credit records for a fee. This is fraudulent.
• Only authorized credit bureaus can modify loan records under Pakistan’s Credit Bureau Act, 2015

Red Flags to Spot Barwaqt Scams

• Calls/messages demanding payment to “unlock” loans.
• Promises to erase default records for cash.
• Links to download the Barwaqt app from unofficial sites.

Official SECP Alert Highlights

Alert	Meaning	Public Action
App delisted (Aug 2024)	Barwaqt is ILLEGAL	Do NOT download or use
Fake credit-fix offers	Scam	Report to SECP/cybercrime
SFSL non-operational	No legitimate loans	Avoid any “new” Barwaqt loans

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Risks of Using Barwaqt (Even Old Versions)

1. Data Theft

The app requested access to contacts, photos, and location. Many users reported threatening calls to family members after delays.

2. Sky-High Penalties

A 7-day delay on a ₨10,000 loan could balloon to ₨14,000 with daily penalties.

3. Credit Score Damage

Default records reported to credit bureaus affect future loan eligibility.

4. No Legal Recourse

Since SFSL is unregistered, borrowers can’t approach financial ombudsmen.

💡 Useful Tip: Use Truecaller to block spam calls from loan sharks. Report harassment to WhatsApp (+92 51 910 7373) 

Safer Alternatives to Barwaqt in Pakistan

• SECP-Registered Apps:
• JazzCash: Loans up to ₨500,000 with flexible terms.
• Easypaisa: Instant loans via app; lower interest rates.
• Finja: SME-friendly credit with transparent fees.

⚠️ Always Check: Search “SECP Registered NBFCs” for updated lists of legal lenders.

Frequently Asked Questions (FAQs)

Conclusion

Barwaqt story highlights a harsh truth: not all fintech innovations prioritize user safety. While its digital process was technically efficient, regulatory violations and predatory practices led to its downfall. As of July 2024, avoid Barwaqt entirely. Opt for SECP-approved apps like JazzCash or Easypaisa.

Remember:

“If a loan offer seems too easy, question its legitimacy.”

Stay safe, borrow smartly, and always verify lenders via SECP’s website.

📌 Key Takeaway: Need urgent cash? Dial *1244# for JazzCash or *786# for Easypaisa—registered, secure, and reliable.

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Step-by-step Guide on How to Download and Install Barwaqt Loan app correctly