Kumari Bank Launches 'Multi-Dispersal' Feature for Digital PhoneLoan Service

Kathmandu. With the objective of making Nepal's digital banking sector more convenient and customer-centric, Kumari Bank has launched the 'Multi-Dispersal' facility under 'Kumari PhoneLoan'. This service, initiated in collaboration with PhoneLoan, a leading digital loan disbursement platform, now gives customers the freedom to withdraw funds multiple times within their approved loan limit according to their needs.

Previously, customers were obligated to take the entire approved loan amount at once and had to repay the old loan before applying for a new one. This new facility completely eliminates that hassle. Under this innovative service, eligible customers can withdraw only the amount they need, whenever they need it, from the total loan limit set by the bank. The biggest feature of the loan taken this way is that interest will be charged only on the amount the customer uses.

The remaining loan limit will remain secured for the future, which is expected to prevent unnecessary interest burdens on the user and bring transparency to financial management. Arrangements have been made so that this facility can be availed instantly through the mobile banking app itself, without any paperwork or the need to visit a bank branch.

Eligible customers of Kumari Bank can now meet their financial needs by using this new facility through the Kumari Smart Mobile Banking app, without collateral or any hassle.