Laxmi Bank launches smart phone loan service

Kathmandu. Laxmi Bank has launched smart phone loan service in collaboration with Affan Soft. Under this service, eligible customers can take a loan of up to Rs 200,000 from Laxmi Bank’s mobile money app, the bank said.

According to the bank, the loan amount will be determined based on the transactions in the customer’s account and the calculation will be done by the app’s analytics software.

For now, the service will be available for customers who have a salary and savings account with the bank, but plans are afoot to extend the service to other customers.

Laxmi Bank has launched a new service with the objective of providing simple and easy service to the customers by making its services digital friendly.

As this loan is fully digital friendly, it can be taken without any documents and application and as it will be approved in advance, it will be provided without any collateral. The loan will be provided for a maximum period of 30 days and the loan amount will be credited to the customer’s account as soon as the loan becomes available.