Sarbashakti Smart App

Tech Academy Pvt. Ltd.

About this app

Sarbashakti Smart App is an official mobile application of Sarbashakti Saving and Credit Co-operative Ltd. which facilitates the user for various utility payment and mobile recharge/ topup for different telecom service provider like Nepal telecom, Ncell, CDMA as well as mobile banking features.

Key feature of Sarbashakti Smart App


It enables user for various banking transaction like Fund Receive/Transfer

Keeps track of all your transactions through secured app.


Sarbashakti Smart App facilitates you to pay different bills and utility payment through highly secured merchants.

Receive and send money through remittance services

QR scan: Scan and Pay feature that allows you to scan and pay to the different merchants.

Highly secured app with two factor authentication and fingerprint.



Apply for loan through our app:

Sarbashakti Smart App offers different types of loan to our customer, we will be listing the loan category with interest rate and you can choose to apply for the needed loan category.

(Note: This is just a loan information for applying and for the approval customer needs to visit the Sarbashakti Saving and Credit Co-operative Ltd Office)


For personal loan followings things apply:


A. Loan Amount: NRS 20 thousand to NRS 1 Crore

B. Loan Tenure: 180 days (shortest, including renewal period) to 120 months (longest, including renewal period)

C. Interest Ranging of minimum 9% APR to maximum 16% APR

D. Processing Fees of 1 % of loan amount

*APR = Annual Percentage Rate


Eligibility:

1. Resident of Nepal

2. Age above 18 yrs.

3. Must have a guarantor

4. Have an income source with tax clearance document


Personal Loan Example:

Let's say you are applying for a personal loan from the organisation, amounting to Rs.2,00,000 at a rate of interest of 16%(annual) and your loan tenure is 2 years,

Equated Monthly Instalment (EMI)= Rs.9792.62
Total payable interest = Rs.35022.88
Total Payment = Rs.2,35022.88
Loan processing fees = 1% of loan amount = 1% of Rs.2,00,000 = Rs.2000


EMI will be calculated as under:


P x R x (1+R)^N / [(1+R)^N-1]


where,

P = Principal amount of the loan

R = Rate of interest (Annual)

N = Number of monthly instalments.

EMI = 2,00,000* 0.0129 * (1+ 0.0129)^24 / [(1+ 0.0129)^24 ]-1
= Rs 9792.62

So your monthly EMI would be = Rs.9792.62


The rate of interest (R) on your loan is calculated monthly i.e. (R= Annual rate of interest/12/100). For instance, if R = 16% per annum, then R = 16/12/100 = 0.0133.

so, Interest = P x R
= 2,00,000 x 0.0133
= Rs.2666.67 for first month


Since EMI consists of principal + Interest

Principal = EMI - Interest
= 9792.62 - 2666.67
= Rs.7125.95


And for the next month, opening Loan amount = Rs.2,00,000- Rs.7125.95 = Rs.1,92,874.05


Disclaimers: We are not asking applicants to pay advance money for loan. Please be aware of such fraudulent activities.

What’s new

Sarbashakti Smart App facilitates users for various utility payments, mobile top ups as well as different financial transactions remotely using a smartphones from anywhere anytime.