Banks in Nepal have launched a new ‘Phone Loan’ service, allowing customers to borrow up to Rs. 2 lakh directly through their mobile phones. This service is available to customers who already have bank accounts, and loans are approved based on their financial standing. Once approved, the loan amount is directly deposited into the customer’s bank account.
Monthly loan installments can range from Rs. 15,000 up to Rs. 2 lakh, depending on the repayment plan and borrower’s profile.
Laxmi Sunrise Bank has published the names of 50 borrowers who have failed to repay their phone loans. These individuals have been given a 35-day deadline to make contact and settle their dues. Failure to do so will result in legal proceedings. The bank has also indicated that such defaulters may be blacklisted.
This article was originally published on bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
