KATHMANDU: Nabil Bank has launched SME lending product, ‘Nabil Sajilo Xpress Karja’, based on Credit Scoring model with an aim to speed up the credit decision making process and provide risk based pricing with maximum interest rate of 10.50 per cent through simplified and quicker processing.
Nabil Bank and UKaid Sakchyam – Access to Finance have been working together on enhancement of SME segments; outcomes of which were ‘Nabil Sajilo Karja’ and ‘Nabil Nari Karja’. With the success of these two SME loan products, Nabil Bank has launched Nabil Sajilo Xpress Karja, which is an upgradation of existing Nabil Sajilo Karja.
Nabil Bank is the first ever bank in Nepal to use a credit scoring approach to make credit approval and pricing decisions for SME clients with competitive interest rate catering loan size up to Rs 7.5 million, as per a media release. This product is designed to deliver quick decision on borrower’s credit application where the approval will be provided within 35 hours of the submission of the application.
Nabil Sajilo Xpress Karja provides a smart package of free transaction alert services, free monthly bank e-statement delivery, free issuance of credit card to the key person of the business with assured turnaround time of 35 hours.
A version of this article appears in print on December 25, 2019 of The Himalayan Times.