‘NIMB Smartloan’ launched

KATHMANDU, SEPTEMBER 2: In an initiative towards financial inclusion and accessibility, Nepal Investment Mega Bank Limited (NIMB) has announced the upgraded version of ‘NIMB Smartloan". This new mobile loan feature, launched yesterday, is available within the NIMB Smart mobile banking app. With it, eligible customers can now access an instant loan of up to Rs. 5,00,000 directly through the NIMB Smart app, without the need for any collateral, paperwork, or bank visits.

"There are flexible repayment options, allowing customers to choose a repayment period of either 1 month or instalments (EMI) spread over up to 36 months. Additionally, the service includes a prepayment option," states a press release issued by the bank.

Customers can easily register for NIMB Smartloan through the NIMB Smart app by providing a verified email address. Eligibility for NIMB Smartloan is determined by various criteria set by the bank, such as having a salary account, regular transactions, no pending loans with the bank, and a good loan repayment history. 

Bishwa Singh, Head of Digital Payments at NIMB, reported stated, "We are excited to introduce the upgraded version of NIMB Smartloan. With the highest loan amount offered through any mobile platform in the industry, we aim to empower our customers by providing a more convenient and accessible financial solution that meets their needs."