Kathmandu. eSewa and Citizens Bank International have launched a digital loan facility targeted at people with disabilities ‘Swavalamban Karna’. The facility, which was launched during an event held at Vivanta in Kathmandu, aims to simplify the lengthy process, paperwork, and physical presence required to get a loan.

The program was attended by representatives from eSewa, Citizens Bank International, National Federation of Disabled Nepal, development partners, persons with disabilities and media.

People with eligible disabilities can apply for a loan through the eSewa app. Under this facility, loans ranging from Rs 10,000 to Rs 2 lakh can be availed. The interest rate of the loan is 9.99 percent per annum and the processing fee is 0.75 per cent. 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 certified, 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 related to loan approval and the rules applicable will be as per the terms of the bank.

Speaking at the event, Jagadish Khadka, Chief Executive Officer of eSewa, said that through ‘Swavalamban Karja’, we are trying to make access to credit easier and easier for people with disabilities through the use of 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. He says.

Similarly, Roshan Manandhar, Chief Operating Officer of Citizens Bank International said, “We are pleased to collaborate with eSewa to expand access to formal credit for persons with disabilities.

He said, “We are happy to collaborate with eSewa to expand access to formal loans for people with disabilities. We hope to provide a financial solution that supports 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 of sorts. ’

Along with the speech of the organization’s leadership, information about ‘Swabalamban Loan’ facility, direct loan distribution, experience of one of the participants and documentary on this initiative were also presented in the program.