NIC Asia, SuryaJyoti Life Offer Free Credit Cards
23rd January 2026, Kathmandu
NIC Asia Bank Limited and SuryaJyoti Life Insurance Company have entered into a strategic partnership to provide lifetime free credit card services to the insured customers and insurance agents of SuryaJyoti Life. This collaboration, formalized in Kathmandu, aims to enhance financial accessibility and promote the adoption of digital payment solutions across the growing insurance and banking sectors of Nepal.
NIC Asia, SuryaJyoti Life
The memorandum of understanding (MoU) was signed during a high-profile ceremony attended by senior leadership from both institutions. NIC Asia Bank was represented by its Chief Executive Officer, Sujit Kumar Shakya, while SuryaJyoti Life Insurance Company was represented by its Chief Executive Officer, Prakash Bikram Khatri. This partnership represents a significant step toward the integration of banking and insurance services, often referred to as a value-added bancassurance model.
Key Benefits of the Strategic Partnership
Under the terms of this newly established agreement, the insured members and active agents associated with SuryaJyoti Life will be eligible to receive NIC Asia Bank credit cards with a unique “lifetime free” feature. This initiative is specifically designed to address several critical financial needs of the modern consumer.
No Annual or Renewal Fees: Eligible cardholders will not have to pay the standard annual maintenance or renewal fees typically associated with premium credit cards. This makes the card a cost-effective financial tool for long-term use.
Emergency Financial Support: The credit card facility is intended to support individuals in managing sudden or emergency financial requirements, providing a revolving credit line that can be used for medical expenses, travel, or urgent purchases.
Digital Economy Integration: By providing easy access to credit, the bank aims to transition more insurance stakeholders into the digital economy, encouraging the use of POS machines and online payment gateways.
Convenience for Agents: For the more than 100,000 agents of SuryaJyoti Life, this credit facility can serve as a valuable resource for managing business-related expenses and personal cash flow.
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Supporting Financial Inclusion in Nepal
NIC Asia Bank, currently one of the largest private-sector banks in Nepal in terms of network reach, stated that this collaboration aligns with its ongoing mission to deliver refined and customer-friendly banking services. With over 360 branches and a massive digital footprint, the bank is well-positioned to serve the vast customer base of SuryaJyoti Life, which was formed through the historic merger of Surya Life and Jyoti Life.
Through this partnership, both institutions believe they are creating added value that goes beyond traditional products. For a policyholder, the insurance policy provides long-term risk protection, while the NIC Asia credit card provide short-term financial flexibility. This synergy strengthens financial inclusion by ensuring that even those in semi-urban areas have access to formal credit instruments.
Synergizing Insurance and Digital Payments
SuryaJyoti Life Insurance has been a pioneer in digital transformation within the insurance industry. The company recently launched the “SuryaJyoti Cares” digital platform, which provides various discounts and benefits to its policyholders. The addition of a lifetime free credit card from NIC Asia Bank further enhances this ecosystem.
The partnership also encourages the habit of digital premium payments. Policyholders can use their new NIC Asia credit cards to pay their insurance premiums through the “nBank” mobile app or other digital channels, often benefiting from interest-free periods of up to 45 days. This not only makes the payment process more convenient but also helps in maintaining policy persistence by providing a temporary credit cushion for premium due dates.
The Role of Agents in the Partnership
Insurance agents are the backbone of the insurance industry in Nepal. By offering them a lifetime free credit card, NIC Asia Bank is recognizing their pivotal role in the financial ecosystem. Agents often require liquid funds for travel, client meetings, and office management. Having a credit card with no annual fees allows them to manage these overheads more efficiently, ultimately improving their productivity and service quality.
Conclusion: A New Benchmark for Industry Collaboration
The strategic partnership between NIC Asia Bank and SuryaJyoti Life Insurance sets a new benchmark for how financial institutions can collaborate to benefit the general public. By removing the cost barrier of annual credit card fees, the two companies are making sophisticated financial tools more accessible to the average Nepali citizen.
As Nepal continues to move toward a more digitized and financially inclusive society, such partnerships will be instrumental in bridging the gap between traditional savings and modern credit facilities. For the millions of policyholders and thousands of agents involved, this move represents a tangible step toward greater financial empowerment and convenience.
For More: NIC Asia, SuryaJyoti Life
