KATHMANDU: Phoenix Capital Pvt. Ltd. on Friday launched digital marketplace for personal loans in Nepal– karjabazar.com.
Karjabazaar is a digital platform where the users can view different retail loans – such as home, auto, loan against property and credit cards – available from licensed financial institutions. They can compare various features like interest rate and loan terms, check their eligibility according to the banks’ criteria and even begin processing their personal loan or credit card application straight from the website.
The company claimed that the platform was released online following a detailed consultation and process flow adjustment with Nepal’s leading commercial banks.
It said that three commercial banks – Standard Chartered, NUMB and Lama, and a regional Sindh Bikes Bank had sighed up with karjabazaar.
“Since it is a cost effective and innovative channel to acquire customers, more banks are expected to join us,” said the company.
It has also developed its own proprietary credit scoring algorithm for individual borrowers to help the lenders assess the creditworthiness of the borrower.
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