Kumari bank launched a QR Merchant phone loan facility aiming to promote entrepreneurship and provide financing to the small business owners. This allows entrepreneurs to secure loans up to NRs 200,000 based upon the QR transaction history.
The users must have at least two business transactions per week from their account for four consecutive weeks with a minimum monthly transaction limit of Rs 10,000 to avail this loan facility.
With the Kumari Bank mobile banking app, you can obtain loans without the need for collateral or in-person bank visits. The facility expects to assist small company owners in obtaining official funding and foster their expansion.
