1. Loan Limit and Tenure (Clause 4 of Digital Lending Guidelines, 2078)

2. Loan Disbursement Procedure (Clause 5 of Digital Lending Guidelines, 2078)

3. Obtainment of CICL Report (Clause 3(1) of Directive No. 12/079 of Unified Directive 2079)

4. Who shall be eligible for Fone Loan?

    i. Customer must have the payroll account in NIC ASIA Bank.

   ii. Customer must have received at least Five months’ salary in last six-months period in existing payroll account.

5. What are the cases for ineligibility criteria for Fone Loan?

  1. Who is of unsound mind or insane;

  2. Who is illiterate;

  3. Who is differently abled (blind, deaf, etc.) or on such condition Bank cannot be assured of competence of applicant to avail digital loan from the Bank. 

  4. Who is declared insolvent and a period of five years has not elapsed.

  5. Who is convicted by a court of an offense involving moral turpitude, civil and criminal offence and sentenced in respect thereof, and a period of ten years has not elapsed from the expiry of the sentence.

  6. Person having Permanent Residential status or holding Diversity Visa/Green Card of Foreign country or any similar type of residential visa of foreign country.

  7. Other ineligibility criteria:

a. CIC Blacklisted customers, Hot list and Negative list customers

b. Nepal Police and Armed Police Force, Lawyers, Judges, Media Personalities, Politically Exposed Persons (PEPs).

c. Existing loan customers of the Bank (DPD >30 days i.e. other than Pass category loans).

d. Credit Card Customers of the Bank

5. Does the Fone Loan service has age limit?  

   Yes, the Fone Loan service has age limit.

   Minimum: 18 Years

   Maximum: Remaining service tenure or 58 years at the maturity of the loan whichever is earlier.

6. Does the Fone Loan service has loan limit?

   Yes, the Fone Loan service has loan limit.

   Minimum: NPR 500

   Maximum: Up to NPR 200,000 or 15 Months' salary whichever is lower. 

7. Does the Fone Loan service has loan tenure?

  Yes, the tenure for Fone Loan service is maximum up to 1 year.