What is Qist (Installment Plan)?
Qist is selling an item on installments: the customer pays an advance, takes the item, and pays the rest in fixed monthly amounts.
Updated
Meaning
English
Qist is selling an item on installments: the customer pays an advance, takes the item, and pays the rest in fixed monthly amounts.
Roman Urdu
Qist matlab cheez qiston par bechna: gahak advance de kar cheez le jata hai aur baqi raqam har mahine muqarrara qiston me deta hai.
Also called installment, instalment plan, EMI, easy installments, aqsaat.
Example
A customer buys a refrigerator worth 150,000 rupees on qist: 30,000 advance and 12 monthly installments of 11,000. The shop records her CNIC and a guarantor, and sends a WhatsApp reminder three days before each due date.
How it works
Installment selling is common in Pakistan for phones, appliances, motorbikes and furniture. The installment price is usually higher than the cash price to cover the risk and the wait. Good practice: take a reasonable advance, verify the customer's CNIC, address and income, take a guarantor, and give a written schedule with dates and amounts.
The work is in collection. Every installment must be recorded against the plan, late ones followed up early, and the remaining balance always clear. A shop with many plans needs to see what is due this week and what is overdue at a glance.
In Nafaa
Nafaa's mobile and appliance packs run qist plans: what is late, what falls due this week, money collected and still to come, with taking an installment and a WhatsApp reminder in one tap. Appliance plans can record a guarantor.