EasyPaisa launches Digital Loan service for its valued customers. EasyPaisa is the project of Telenor Pakistan & Tameer Microfinance Bank is introducing the service to ease millions of un-banked residents of the country. Telenor is best known for its financial mobile services in Pakistan.
What is EasyPaisa Digital Loan Service?
The service is named as Sahara Loan Service which will assist users in getting short term loan for almost 7 to 14 days. The amount of the loan will be directly deposited to the EasyPaisa mobile account of the user. The whole process just requires hardly five minutes along with a single click.
Who is eligible for EasyPaisa Digital Loan Service?
The loan service of EasyPaisa is available for only selective customers. Customers who are eligible for loan service have already received an SMS. Following are the basic requirements for the Sahara Loan Service:
- Customers with age of 18 or more can apply for the Sahara Loan Service via bank.
- If bank will approve your application, it will send you an SMS to confirm Amount of loan, Service fee, Due date, late payment fee and total repayment amount.
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Amount of loan:
EasyPaisa customers can attain minimum loan of Rs. 850 and maximum of Rs. 10,000.
Charges of Sahara Loan Service:
Tameer Microfinance Bank will charge the service fee from the customers. Here are the details about the service charges:
- For 7 days: 10%-25%
- For 14 days: 12%-35%
- If loan will be returned after due date extra 2.5% will also be charged by the bank.
Procedure to avail loan:
Customers simply have to dial *786*7# for the application.
Process for the repayment of loan:
Telenor bank will automatically deduce the repayment amount from the mobile account. The amount will be deducted on the due date. However if any of the repayment amount portion will remain unpaid after the due date, then any of the amount being deposited in the Easypaisa mobile account will be deducted automatically.
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