Now you can get agricultural loan without collateral within 5 minutes from Kheti app
In collaboration with NNB Bank Limited and Nepal’s digital agriculture app Kheti, the completely digital technology-based, unsecured NMB Farm Loan has been officially launched.
Through this loan, farmers will be able to get a loan easily within 5 minutes by applying for the NMB farm loan, a new feature of the farming app.
In order for farmers who are deprived of financial access to get loans easily, a loan without collateral based on digital technology has been started for the first time in Nepal.
Farmers can get this loan without collateral in simple installments to purchase agricultural seeds, various other necessary agricultural goods and equipment, so they don’t have to bear the hassle of submitting necessary documents for getting this loan like other loans.
Since this loan is completely based on digital technology, it will be approved after evaluating the previous business done by the farmers with the farm, then the customers will be able to get the facility of repaying the loan within the payment period of 3 months to 24 months and after paying off the loan, they will be able to get another loan immediately.
In order to get this NMB farm loan, customers must have opened an account with NMB Bank, then they must download the farm app and fill in the customer identification details using the features in the app, as well as deal with agricultural products and equipment through the farm app, complete the important stages of farming such as disease and pest control, firm start-up, etc. Must have participated.
As the country is emphasizing on the commercialization of agriculture, the banks and farmers believe that this NMB farm loan, which can be obtained within 5 minutes without mortgage based on digital technology, will benefit the farmers and develop the entire agricultural sector and positively affect the economy of Nepal.
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