The digital wallet app eSewa launched a loan feature on Wednesday (August 21, 2024) being the first in the industry. The company brought this service in collaboration with Kumari Bank Ltd. and Foneloan.
The facility enables users to get up to a maximum of Rs 2 lakh of business loans on the eSewa app without any collateral and documents works. The company has branded its digital lending service as an “easy Loan”.
This new facility will greatly enhance the user experience for the eSewa users and diversify their use cases on the famous mobile wallet app.
The loan facility or a digital loan will enable users to take loans from the app.
eSewa loan service availability
According to eSewa, its in-app loan service is available to agents only in the first phase. However, the Chief Executive Officer (CEO) of the company, Jagdish Khadka maintains that the facility will soon extend to regular users as well.
Speaking about the company’s easy Loan service, Khadka thanked users, agents, and merchants for their continuous support and assistance to date. He stated that eSewa plans to bring more innovative services in the coming days.
The loan facility ups the stakes further for eSewa which is already ahead among Nepal’s top mobile wallet companies.
How can you apply for a loan on the eSewa app?
eSewa now easily lets you apply for a loan within a few taps. Here are the steps to apply for a loan on eSewa app:
- Launch the eSewa app on your phone
- Select easyloan available from Financial Services
- Select easyloan
- Proceed to apply
- That’s it. After confirming your application, eSewa analyzes the details and proceeds.
Also read: Easily renew your Bluebook on eSewa and get free delivery
The move will elevate the user’s experience with the eSewa app. In recent days, the leading wallet company has faced criticism for “network outages” which delayed and failed transactions for many. Features such as digital loans will help talk down the negativity.
eSewa is Nepal’s largest digital wallet in terms of user base with around 10 million users across 77 districts. Its app also reached a momentous 10 million downloads on Google Play Store just recently.
What do you think of eSewa launching its digital loan service? How beneficial will it be to you as a user? Do share with us in our comment section below.