Kathmandu, June 11 . Phoenix Capital Pvt. Ltd. (PCPL) is pleased to announce the launch of Nepal’s 1st digital marketplace for personal loans: karjabazaar.com .
Karjabazaar is a digital platform where users can view different retail loans available from licensed financial institutions (home, auto, loan against property, credit cards, etc), compare various features like interest rate, terms etc, check their eligibility according to the banks’ criteria and even begin processing their personal loan or credit card application straight from the website. Karjabazaar has been released online following detailed consultation and process flow adjustments with Nepal’s leading commercial banks.
Three commercial banks (Standard Chartered Bank, NMB Bank, and Laxmi Bank) and a regional development bank (Sindhu Bikas Bank) have signed up with Karjabazaar. More banks and financial institutions are expected to join in as Karjabzaar serves as a cost-effective and innovative channel to acquire customers.
To fill the information gap in the retail lending space, Karjabazaar has also developed its own proprietary credit scoring algorithm for individual borrowers to help lenders assess the creditworthiness of the borrower.