Mahalaxmi Development Bank Digital Promotion Month

15th January 2026, Kathmandu

The Mahalaxmi Development Bank digital initiative has been officially launched with the introduction of Mahalaxmi Magh Mahotsav, a month long digital promotion campaign aimed at encouraging secure, cashless, and convenient banking transactions across Nepal. Starting on January 15, 2026 (Magh 1, 2082), the campaign aligns with the bank’s long term strategy of expanding digital banking adoption and enhancing the customer experience through modern financial services.

Mahalaxmi Development Bank Digital

According to the bank, the month of Magh is celebrated every year as Digital Transaction Promotion Month. This year’s Mahalaxmi Magh Mahotsav has been designed with additional customer centric incentives to accelerate the shift away from physical banking. The initiative focuses on increasing the use of digital channels while reducing dependency on branch visits and cash based transactions, which the bank sees as essential for future operational efficiency.

High Digital Adoption and Mobile App Incentives

Mahalaxmi Development Bank has reported that, on average, more than 80 percent of its total daily transactions are already conducted through digital platforms. Building on this strong foundation, the bank has introduced several attractive offers to further boost usage. One of the key highlights of the campaign is the incentive provided through the bank’s refined mobile application, Mahalaxmi Smart Sathi.

Under this scheme, customers who open fixed deposit accounts via the Smart Sathi mobile app will receive an interest rate 0.25 percent higher than the standard rate offered on individual fixed deposits. While the base rates for Magh 2082 have seen a slight downward trend in the industry, this digital premium ensures that tech savvy savers receive better value. The interest provided remains strictly within the regulatory framework and interest rate spreads set by Nepal Rastra Bank.

Card Fee Waivers and Virtual Credit Solutions

The Mahalaxmi Development Bank digital campaign also includes significant concessions on card services to lower the barrier for entry into the credit ecosystem. Customers applying for virtual credit cards or standard physical credit cards during the promotion month will enjoy a 100 percent waiver on both issuance fees and annual charges. This is a significant saving, as joining and annual fees for Visa Credit Cards typically total around NPR 1,500.

Similarly, debit card issuance and mobile banking registration are being provided completely free of cost for new users during the campaign period. The bank is particularly promoting its Mahalaxmi Virtual Credit Card, which allows users to make QR based payments and online purchases directly through the mobile app without needing to carry a physical plastic card. This virtual card offers a 45 day interest free period, similar to traditional credit cards.

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Healthcare Cashback and Merchant Support Services

To further encourage digital payments in daily life, the bank is offering specific cashback benefits on pharmacy bill payments. Customers paying their pharmacy bills through the Mahalaxmi Smart Sathi app will receive 20 percent cashback or up to NPR 200, whichever is lower. This targeted incentive is expected to promote digital payments in essential service sectors where cash is still frequently used.

Another notable feature of the campaign is the free registration of Koili, an audio based notification service. This device alerts merchants with a loud voice message whenever a successful payment is received via QR code. By eliminating the registration fee for this service during Magh Mahotsav, the bank aims to enhance transparency and trust for small merchants who may otherwise worry about payment confirmation during busy hours.

National Impact and Cross Border Connectivity

The Mahalaxmi Development Bank digital strategy supports broader national goals such as financial inclusion and the promotion of a cashless economy. The bank has expressed confidence that as cash transactions decline, digital platforms will play a critical role in improving security and transparency in the financial system. Operating under the slogan Strong Bank, Successful Partnership, the bank currently serves more than 800,000 customers through 103 branch offices.

In addition to domestic efforts, the bank has already established international payment links. Through a partnership with PhonePe, Indian tourists can make payments in Nepal by scanning the bank’s QR codes. Furthermore, a collaboration with Nepal Clearing House Limited (NCHL) and the AliPay+ network now allows tourists from China, Singapore, and South Korea to pay easily using their home country’s digital wallets. This cross border facilitation positions Mahalaxmi as a leader among development banks in digital innovation.

Conclusion

The Mahalaxmi Development Bank digital promotion month reflects the institution’s commitment to innovation and customer convenience in early 2026. With higher interest rates for app based deposits, full fee waivers on credit and debit cards, and cashback for healthcare expenses, the Mahalaxmi Magh Mahotsav is a comprehensive effort to modernize Nepal’s banking habits. Customers are encouraged to download the Mahalaxmi Smart Sathi app and take advantage of these time bound offers before the end of Magh.

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