Easypaisa, Jazzcash and digital Loan Apps Mark Up Rates Explained

Jazz cash and easy paisa apps are commonly used in Pakistan. These apps provide many banking facilities through their platforms. They also provide to its users on the basis of their transaction history. When you keep more balance in your easy paisa app, do more transaction in jazz cash, pay your loan in time and pay utility bills in time then your credit score is high and you become able to get higher loan amount.
But these application along with other digitals apps charge you higher rate of interest. The rate of interest may vary from 4 to 5% depending upon number of times you have taken the loan.
One must avoid such loans as they have high rate of mark up and are interest based which is prohibited in Islam.

[@qaziimran]

Good video and keep it up ❤

[@FinanceAcademyqmansar]

Thank you! Will do!