Nabil Bank launch Nabil Fone Loan service; now customers can instantly apply for virtual credit card loans and avail short term loans up to NPR 1 Lakh in minutes

Nabil Bank is pleased to announce the launch of the Nabil Fone Loan service. Nabil Fone Loan is an innovative digital lending service that provides small short term pre-approved loans to individual customers instantly through the bank’s mobile banking platform and by use of a Virtual Credit Card.

The solution is designed on the existing mobile banking platform of the bank backed by a virtual credit card. With this service, eligible customers can instantly apply for virtual credit card loans using banks’ mobile banking and avail short term loans up to NPR 1 Lakh in 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 a salary/payroll account with  Bank. In the future, the 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 paperwork, no hassle of the conventional credit application process.
• Instant (pre-approved) Loan: All process of a loan application, approval, and disbursement is done instantly on real-time, within a few minutes.
• Collateral Free Loan: Lending based on an analytical study of customer’s banking transactions, no additional collateral required.
• Micro Loans: Can apply even for small loan amounts up to NPR 1 lakh.

CEO of Nabil Bank, Mr. Anil Keshary Shah stated that he is confident to win the 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. Mr. Shah further 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 is a leading bank in the digital banking industry in Nepal. It has 119 branches and 185 ATM network all over the country. Nabil Bank has always been at the forefront in adopting new technology and introducing innovative products and services.  With the recent launch of the Nabil Fone Loan, the Bank is exploring digital avenues to cater to the customers’ needs. The Bank aims to be the first digital bank of the country and Nabil Digi Bank is progressively improving customer touchpoints and internal processes to achieve the goal.