24th September 2022, Kathmandu

Everest Bank has launched the ‘e-Paicho fone Loan‘ facility. Customers who are considered eligible by the bank can get loans up to Rs 2 lakh without collateral through the mobile app ‘EBL Touch 24’.

According to the bank, the e-Paicho fone loan can be paid in different installments. According to the bank, it includes the facility of repayment within one month or in installments for 3, 6, 9, or 12 months. Various parameters have been used to measure the eligibility of customers.

According to the bank, other parameters such as the transactions done by the bank, whether a salary account has been opened in the bank or not, and whether the outstanding loan has been taken or not used.

In addition, the bank said that for customers who want to pay off their loan early, the option of prepayment is also available along with the loan arrears.

E-Paicho fone loan eligible customers can use the ‘Buy Now Play Later’ facility while making QR payments at any FonePay merchant.

According to the bank, to get these services, the customer must register with a verified email address and e-Paicho fone loan.

According to the bank, for an e-Paicho fone loan, the loan is automatically given based on eligibility criteria. There are criteria such as salary account, regular transactions, and no arrears or debt with the bank.

According to the bank, the e-paicho loan fone icon will appear on the mobile app of eligible customers and after registering by clicking on the register button given there, the bank has to verify the email. With email verification, customers can take mortgage loans in real time.

It is very difficult to get a loan in Nepal. To increase easy access to credit, we are going to provide credit to eligible customers through an e-Paicho fone Loan. Now the customers do not have to worry about taking loans and making payments,” said Bishnu Gyawali, head of retail and SME credit of the bank.


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