KATHMANDU: Nabil Bank has launched SME lending product, ‘Nabil Sajilo Express Karja (NSEK)’, based on Credit Score Card Model with an aim to speed up the credit decision-making process and provide risk-based pricing with maximum interest rate of 10.50 per cent through simplified and quicker processing.

With an intention to introduce the product in seven provinces of the country, NSEK was launched from Province 3, Kathmandu on December 23. Nabil Bank has also successfully launched NSEK in Bhairahawa in Province 5, as per a press statement.

Nabil Bank and Sakchyam-Access to Finance have been working together on enhancement of SME segments; an outcome of which was Nabil Sajilo Karja (NSK) and launched on March 7 last year. With the success of the product, Nabil Bank launched NSEK, which is an upgradation of NSK.

This is the first time a bank in Nepal has used a credit scoring approach to make credit approval and pricing decision for SME clients, with competitive interest rate catering loan size from up to Rs 7.5 million.