KATHMANDU: Nabil Bank has launched ‘Nabil Fone Loan service’. Nabil Fone Loan is an innovative digital lending service which provides small short term pre-approved loans to individual customers instantly through bank’s mobile banking platform and by use of Virtual Credit Card.

The solution is designed on existing mobile banking platform of the bank backed by virtual credit card. With this service, eligible customers can instantly apply for virtual credit card loan using banks’ mobile banking and will be available short term loan up to Rs 1,00,000 within few minutes. Bank has partnered with F1 Soft International Pvt. Ltd. for the technology.

In the first phase; this service shall be extended to those customers who are maintaining salary/payroll account with Bank. In the future, bank plans to extend the service to other segments of customers as well.

Benefits to Customers

Contact-less Digital Lending Experience: Entire lending process happens through mobile banking; No bank visit, No paper work, no hassle of conventional credit application process.

Instant (pre-approved) Loan: All process of loan application, approval and disbursement is done instantly on real time, within few minutes.

Collateral Free Loan: Lending based on analytical study of customer’s banking transactions, no additional collateral required.

Micro Loans: Can apply even for small loan amounts up to NPR 1,00,000.

CEO of Nabil Bank, Anil Keshary Shah stated that he is confident to win satisfaction of the customer due to its amazing features like hassle-free, collateral free, paperless and immediate deposit of the loan amount without having to visit branches to apply for the loan.

Shah  added that It is for the first time in Nepalese banking Industry that customer gets instant loan using the banking app without having to submit any physical documentation and Nabil Bank takes pride in that.

Nabil Bank has 119 branches and 185 ATM network all over the country.