NIC ASIA Personal Loan is a non-collateral based loan scheme specially designed to facilitate your diverse personal financial requirements if you are a Nepalese Salaried individual.
A personal loan is purely based on your credibility as our valued customer and offers to hassle-free services along with the fastest service delivery and easy documentation procedure.
Last Updated Date: May 17, 2022
NIC Asia bank has established a history in the banking sector by establishing itself on 30 June 2013 as the first type of merger bank between the two commercial banks, NIC Bank and Bank of Asia. Since its inception, it has been operating successfully and has today become one of the largest private sector commercial banks in the country in terms of the capital base, balance sheet size, ATM Locations and the number of the branches. The Bank has 327 branches in Nepal, 102 extension counters, 64 branchless banks and 469 ATMs. The main focus of this bank is meritocracy, transparency, professionalism, team spirit and service excellency. The main vision of this bank is to be one of the most respectable and honorable banks in terms of financial performance. The mission of this bank is to become a leading bank in Nepal by providing complete financial solutions to its customers.
A personal loan is an amount of money you can borrow to use for a variety of purposes. For instance, you may use a personal loan to consolidate debt, pay for home renovations, or plan a dream wedding. Personal loans can be offered by banks, credit unions, or online lenders. The money you borrow must be repaid over time, typically with interest. Some lenders may also charge fees for personal loans. A personal loan allows you to borrow money to pay for personal expenses and then repay those funds over time. These loans are different from other installment loans—such as student loans, car loans, and mortgage loans—that are used to fund specific expenses (i.e. education, vehicle purchase, and home purchase). Personal loans are a type of installment debt that allows you to obtain a lump sum of funding. For example, you might use a personal loan for:
To get a personal loan, you need to apply to a lender. Again, this can be a bank, or online personal loan lender. Generally, you would first complete an application. The lender reviews it and decides whether to approve or deny it. If approved, you’ll be given the loan terms, which you can accept or reject. If you agree to them, the next step is finalizing your loan paperwork. Once that’s done, the lender will fund the loan, which means paying the proceeds to you. Depending on the lender, this may be done through a direct deposit into your bank account or a check. After the loan is funded, you can use the money as you see fit. You then have to begin repaying the loan according to the terms established in your loan agreement.
Personal loans may be secured or unsecured. A secured personal loan is one that requires some type of collateral as a condition of borrowing. For instance, you may secure a personal loan with cash assets, such as a savings account or certificate of deposit (CD), or with a physical asset, such as your car or boat. If you default on the loan, the lender could keep your collateral to satisfy the debt.
An unsecured personal loan requires no collateral to borrow money. Banks, credit unions, and online lenders can offer both secured and unsecured personal loans to qualified borrowers. Banks generally consider the latter to be riskier than the former, as there’s no collateral to collect. That can mean paying a higher interest rate for a personal loan.
Rumsan is a diversified multi-business company. We are committed to supporting promising start-ups and investing in digital innovation.
