Kathmandu. eSewa in collaboration with Citizens Bank International has launched ‘Swavalamban Karna’, a digital loan facility targeted at people with disabilities. The facility, which was launched during an event held at Vivanta, Kathmandu, aims to simplify the lengthy process, paperwork, and physical presence required to get a loan.
The program was attended by representatives of eSewa, Citizens Bank International, National Federation of Disabled Nepal, Development Partner Organizations, Persons with Disabilities and the media. Eligible people with disabilities can apply for a loan through the eSewa app. Under this facility, Rs. 10,000 to Rs. 2 lakhs can be availed. The interest rate of the loan is 9.99 percent per annum and the processing fee is 0.75 percent. Eligible users can complete the application process by clicking on the ‘Swavalamban Loan’ banner on the homepage of the eSewa app.
For the loan, the user should have an eSewa account KYC verified, a disability identity card issued by the Government of Nepal, has been using eSewa for at least 6 months and has regular income from salary or business. The evaluation and rules related to loan approval will be as per the terms of the bank. Speaking at the program, Chief Executive Officer of eSewa, Jagadish Khadka, said that through ‘Swavalamban Karja’, we are trying to make access to loans easy and easy for people with disabilities by using digital technology. We believe that this will help them to participate in financial services more easily. Self-reliant loans are not just a product but the beginning of a concept. A person’s financial access should not be limited because of his physical condition. ‘
Similarly, Roshan Manandhar, Chief Operating Officer, Citizens Bank International, said, “We are happy to collaborate with eSewa to expand access to formal loans for people with disabilities. He said, “We are happy to collaborate with eSewa to expand access to formal loans for people with disabilities. We hope that Swavalamban Loan will provide a financial solution that will support their personal and financial needs. We were thinking of doing something different and new. We are very proud to collaborate with this campaign brought by eSewa. I want it to create an ecosystem.” The program was accompanied by speeches by the organization’s leadership, information about the ‘Swavalamban Karna’ facility, direct loan disbursement, experience of one participant and a documentary on this initiative.
