How to apply for EMI Service in Nepal?

How to apply for EMI Service in Nepal?

  • 23 Aug 2021
  • Posted By : Jiban Shrestha
  • 981 Hits

What is EMI? 

Equated Monthly installments are commonly known as EMI. The meaning of EMI is very clear from the same which means we will have to pay back an equal amount of money every month for the loan. EMI can be considered as the fixed amount of money that a borrower has to pay back to the lender every month on a fixed date in the calendar. 0% EMI Service in Nepal is applied on both principals as well as interest so that eventually every amount of loan is paid off in the allocated time. 

EMI has come quite an in practice these days because of its perks and benefits. It makes it possible to get those things and services which we can afford at present. For example mobiles on EMI, Cameras on EMI, student loans on EMI, cars on EMI, and paying back the amount as per our salary.  


The process to apply for EMI is very easy. Everything has its pros, cons, and process. We want you to be clear about everything before thinking about getting an EMI. So, we have included everything you need to know about EMI in this article along with, ‘how you can apply?’, and ' what you get on EMI'.  

Is EMI service good or bad? 

Well, it entirely depends on how you are using it. If people use Emi by properly understating all terms and conditions then there’s no way to have the bad effect of EMI on us. So, we can inherit EMI services either good or bad. 

As far as I can consider, EMI has much more pros than cons unless you consider debt as a bad thing. EMI allows us to explore and achieve things that we cannot afford at present. This type of loan divides the amount to be equal. This allows us to plan our financial strategy properly. We already know about our obligations and can have a more stable lifestyle even after a loan.  

How does EMI service work? 

EMI has its payment plan when we compare it with a variable payment plan. It allows us to pay only a fixed amount of payment every month to the lender. Through EMI service, both the lender as well as the borrower are equally benefitted.  

The lender has a predictably steady source of income from loan interest every month. And the borrower also knows about the exact amount that they have to the lender. This makes the personal budgeting of the individual much easier.  

How to apply for EMI? 

To apply for EMI, one must have a credit card. We are soon launching this service where you can apply for EMI without a credit card, stay tuned with us for that. If you don’t have a credit card then don’t bother about it because it is really easy to make a credit card. All you need to do is to submit some documents photocopy of your citizenship, two passport-size photos, and a salary copy, and fill out a form for a credit card.  

Then after having a credit card, you can select the service/product you want and then apply for EMI. For this again you will have to fill out the form and submit it to the bank online or directly. After this you will get a letter, if you submit a letter to get the product or service, you will get it.  

Which bank to apply for EMI service?  

Almost every- class bank provides this EMI service. But if you want to buy any product or service from a particular website or application then you need to apply for EMI through the associated bank. For this, you need to have an account in that particular bank, a credit card, and then apply for EMI in that bank. 

Our EMI Banking Partners 

Century Bank Limited

Global IME Bank Limited

Kumari Bank Limited

Macchapuchere Bank Limited

Mega Bank Limited

Nabil Bank Limited

NIC Asia Bank Limited

NMB Bank Limited

Siddhartha Bank Limited

Sunrise Bank Limited

Will you get genuine products bought through the EMI service? 

Yes, we get the genuine and original product with warranty (if available with the product) and the product bill even if it’s bought on EMI service.  

What product can we buy through the EMI service?  

Through EMI service, we can get a lot of products and services like Cameras, Mobile, tablets, televisions, refrigerators, Gadgets, jewelry, laptops, air conditioner, etc. 

Is there a limitation on how much we can buy on EMI?  

Yes, a bank can only provide EMI service, based on our salary. For some expensive stuff, we may also have to do a certain amount of down payment. We are restricted to buy the service or product based on our income. 

For any further queries, feel free to contact us through any medium.