Frequently Asked Questions
For All Your FAQ’s, Find All The Help You Need In This Section
FAQs
Find all the answers to your frequently asked questions in this section.
General
What does Ansar gain from this?
Ansar is a charity that exists to educate people about the prohibition and evils of interest and to provide practical solutions. Ansar does not financially profit from this service, but we consider accomplishing our goal of eliminating interest-based debt a benefit in itself.
How much have you provided in loans so far?
Please see the updated stats on our home page.
Are there any fees payable for your services?
There is a small one-off admin fee payable on acceptance of the loan application.
What type of an organisation is Ansar?
We are currently registered as a non-profit organisation with Companies House and registered as a charity with the Charity Commission.
How do I learn about how the donation pool is used for loans?
Please refer to the statistics on our home page.
How do you choose who is eligible for loans?
We have a dedicated loan panel which meets regularly to review applications based on financial need and ability to replay in order to determine who is eligible.
Donations
Where and how can I donate?
You can donate here. You have the option of donating one-time or setting up a fixed monthly amount.
I am interested in volunteering my time. How do I sign up?
Great! Contact us now!
Can I donate anonymously?
Unfortunately, we do not support anonymous donations. We are, however, committed to keeping donor information private and confidential.
Is there a minimum donation required?
Absolutely not, however we do recommend monthly donations in any amount – no matter how small – to help us forecast for the year.
Loan Applications
Do you provide loans to help with student finance?
Unfortunately not. However, we are supporting the setting up of YourB, a credit union which is currently in the process of registering with the FCA. Once it is launched it will start offering a savings scheme which will gradually begin to offer student loans to its members.
What is the maximum amount that a borrower is eligible for?
Currently, the maximum loan amount is £5,000.
How do you evaluate credit-worthiness?
Our loan panel uses a combination of references, guarantors (if available), and other financial information such as bank statements. The more information you can provide us with, the more informed our decision. The loan panel will evaluate your application when it convenes each week.
What if I urgently require a loan and cannot wait until the next loan panel meeting?
If you are in urgent need of a loan, submit your application on our website with a comment explaining your situation. A loan officer will reach out to you if you are eligible for immediate consideration.
Is it necessary to have a guarantor for every loan?
In short, yes. If you do not list a guarantor in your application, you may be eligible for a significantly reduced loan amount. However, this would only be applicable towards loans under £500.
How long do I have until my repayment begins?
This depends entirely on your specific situation and we will work with you to determine an appropriate payment schedule.
What happens if I cannot pay back my loan?
While that would be unfortunate, we understand that this is a possibility. The first step is to renegotiate an alternative schedule of repayment, according to what works best for all parties. From there, we can jointly arrive at the most beneficial solution. If no resolution is reached, your guarantor will be responsible for the repayment of your loan.
I am too embarrassed to approach you for a loan. Can I borrow anonymously?
Currently, we do not have a system in place to accommodate anonymous loans. We encourage you to still contact us, and in return we will do our utmost to respect your privacy in your time of need.
For any other inquiries please email us.
A Truly Interest Free Loan
Ansar – literal meaning ‘helpers’ in the Arabic language. This was the name given to the helpers of Prophet Muhammad (Peace and Blessings of Allah be upon him) in Madinah. We aspire to take lessons from the ‘Ansar’ and bring them to life in the 21st Century. As a result, we have been providing life-changing support by means of granting interest-free loans, since 1994, as one of the first providers of Shari’ah based finance in the UK. We are an established and registered charity passionate about building a better financial future in the UK.