EPF Goes Digital: Loan payment Made Through ConnectIPS

ConnectIPS

5th August 2020, Kathmandu

Yes. You heard it right! Employees’ Provident Fund has gone digital. You can now pay the loans through NCHL’S Connect IPS payment gateway! This is the Fund’s next step towards digitization.

From now on, the customers can make the loan payment through the internet in the comfort of their homes.

Today, NCHL has integrated approximately 55 banks nationwide. Any borrowers with an account in the listed banks can easily make the loan payment.

The borrowers should perform the following steps to make the payment:

  1. Create an account in Connect IPS e-Payment system
  2. Link the account with the bank and verify it
  3. Make the selection of Provident Fund’s payment option and fill in the necessary information

After performing the above steps, you can visit the Provident Fund’s system to ensure if the payment was successful. It’s that easy!

As per the press release issued by NCHL, the payments made through Connect IPS will be collected in the Provident Fund’s account in various banks. These banks are Himalayan Bank, Machhapuchhre Bank, and NIC Asia Bank.

The agreement between NCHL and Employees’ Provident Fund had taken place last year in July regarding the payment integration with NPI. Till mid-July, that is Ashar end, Rs. 5.36 Billion was collected in different banks through NPI.

According to the provident fund, it is also planning to enhance the digitization in other payment aspects in the future.

This is a major milestone in the digitization of the provident fund. Such steps are essential in order to ensure customer satisfaction and the overall growth of any organization. Let’s welcome the step!

Do you want to share your opinion in the comments below? We would like to hear from you.

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