1000+ Loans Disbursed Digitally via FoneLoan in 100 Days: A Triumph for F1 Soft


Imagine getting a loan directly into your bank account with just a click on your smartphone! Doesn’t that sound cool? Well, in reality, it is a hot topic these days. F1 Soft International has introduced its innovative digital lending service for its customers; named as FoneLoan, where the loan can be instantly disbursed from their respective bank without any physical presence, paperwork, or collateral deposit. To date, this service is being enjoyed by the customers of Nabil Bank Limited, Laxmi Bank Limited, and Kumari Bank Limited. 

This collaboration between F1 Soft and the commercial banks has created a buzz in the banking industry of Nepal since they have been able to successfully disburse 1000+ Foneloans to the customers within a time span of 100 days only. 

1000+ Loans Disbursed Digitally via FoneLoan in 100 Days: A Triumph for F1 Soft 1

What is FoneLoan?

FoneLoan is a short-term loan service developed by F1 Soft International where the salary/payroll account holding customers having a good credit history can avail for the loan to their respective banks through their mobile banking application. Its robust decision analytics system designed by ExtensoData scans the eligibility of borrowers under some criteria such that the option for Foneloan in the mobile app appears only to the eligible ones.

It is clear that not every banking customer can obtain this loan service. The customers are selected automatically by the database system on the basis of their eligibility. Some of the eligibility criteria to obtain FoneLoan are:

  • The customer must be a salary/payroll account holder
  • S/he must have mobile banking app of the bank
  • One must have a good credit history and a transaction history

The eligible ones can simply apply for the loan up to the sum of NPR 200,000  through their own mobile banking app. However, the amount and interest rate are varied upon the banks. Nabil Bank and Kumari Bank have provided FoneLoan up to NPR 1 lakhs, while Laxmi Bank has provided this loan up to the limit of NPR 2 lakhs.  

The other exciting features of this loan are:

  • Contactless digital disbursement of loan
  • No paperwork or collateral deposit required
  • Backed up by decision analytics to calculate loan amount, and deposit/withdrawal pattern
  • Loan amount available for 30 days
  • Automatic verification of signature and eligibility of borrower

There are some common terms and conditions applicable to the borrower:

  • Loan is disbursed as per suggested by the data analytics; i.e. if  the system determines the loan limit of an eligible customer to be NPR 90,000 then he/she will be allowed to take loan for amount below or equal to NPR 90,000 only even if s/he has applied for NPR 100,000. 
  • The interest rate varies as per the discretion of individual banks 
  • In case of multiple loans, consecutive loans are disbursed only after the settlement of previous loan amount

Which Bank Offer Foneloan?

  • Nabil Bank
  • Kumari Bank
  • Laxmi Bank


Not only in developing the first digital wallet of Nepal, F1Soft International has been able to leave everyone wonderstruck with its innovative services in the financial sector of the country. And the attraction of banking customers towards this type of loan is increasing since it is simply like taking a loan saapati from a Ncell sim card. The eligible customers can follow the instructions given by their respective banks and apply for it. 

This is a revolutionary service in the field of consumer lending which would enable banking customers to avail for easier short-term loans whenever needed.We hope that other banks would also join in this revolution for delivering a better digital banking experience to their customers. Have you already applied for FoneLoan or are you waiting for your bank to initiate this service? 


About Author

Hi, I am a postgraduate student of Economics, stock market enthusiast, an occasional storyteller and a habitual reader.

Leave A Reply