Chandragiri Mobile Banking provides different banking solution as well as facilitating different utility payments for the account holders of Chandragiri Savings and Credit Co-operative Ltd.
Apply for loan through our app:
Chandragiri Mobile Banking 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.
Personal Loan
For Personal loan, followings things apply:
A. Minimum Loan Amount NRs 10,000.00 Maximum Loan Nrs. 1,000,000.00
B. Loan Tenure: 60 months(1825Days)
C. Repayment mode: EMI
D. Grace Period: 6 Months. Interest must be paid in grace period.
E. Interest Rate: 14.75%
F. Processing Fees = 1 % of loan amount.
G. Eligibility:
1. Resident of Nepal.
2. Age above 18 years
3. Must have a guarantor.
4. Have an income source with tax clearance document
*APR = Annual Percentage Rate
H. The minimum period of repayment is 12 months and the maximum period of repayment is loan tenure period as per the agreement.
I. The Maximum Annual percentage Rate is 14.75%.
Example:
Let's say you are applying for a Personal loan of NPR 1,000,000.00 at the rate of 14.75% (annual) and your loan tenure is 5 years,
Equated Monthly Instalment (EMI)= Rs.23659.00
Total payable interest = Rs.407722.00
Total Payment = Rs. 407722.00
Loan processing fees = 1% of loan amount = 1% of Rs. 1,000,000.00 = Rs. 10,000.00
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 = 1,000,000* 0.0129 * (1+ 0.0129)^24 / [(1+ 0.0129)^24 ]-1
= Rs 23,659.00
So, your monthly EMI would be = Rs. 23659.00
The rate of interest (R) on your loan is calculated monthly i.e. (R= Annual rate of interest/12/100). For instance, if R = 14.75% per annum, then R = 14.75/12/100 = 0.0121.
so, Interest = P x R
= 1,000,000.00 x 0.0121
= Rs.12,123.00 for first month
Since EMI consists of principal + Interest
Principal = EMI - Interest
= 23,659.00-12,123.
= Rs.11536 in a first installment which can be vary on other installment.
And for the next month, opening loan amount = Rs.1,000,000.00-Rs. 11536.00 = Rs.988464.00
Smart Sapati Example
For Smart Sapati, followings things apply:
A. Sapati amount from NPR 10.00 to NPR. 2,000.00
B. Sapati Tenure: 30 days.
C. Repayment mode: Lump sum.
D. Grace Period: 24 hours for amount NPR 500, no grace period greater than NPR 500
E. Maximum Annual Percentage Rate(APR): No interest will be charged within grace period, 14.00% interest will be charge after grace period.
F. Service charge = NPR 2.00 upto Loan amount NPR 500.00, NPR 5.00 from NPR 501.00 to NPR 2,000.00.
G. Eligibility:
1. Applicant must have Chandragiri Mobile banking app
2. Can apply loan when your account balance is below NPR 105.00
2. Age above 18 years.
3. Applicant Must update KYM. The applicant can apply upto NPR 2000.00 with updated KYM, if KYM is not updated he or she is only eligible to apply upto NPR 500.00 only.
4. The applicant must have transaction in Regular Saving/Monthly Saving account within 90 days.
5. New smart sapati can be apply immediately after clearance of previous sapati.
Let's say you are applying for a smart sapati of NPR 2000.00 at the rate of 14% (annual) and your loan tenure is 30 days,
so Interest = (p * T * R)/100
= (2000*(1/12)* 14)/100
= NPR 23.33 (per month)
Total payable = principal + interest
= NPR 2000 + NPR 23.33
= NPR 2023.33
Disclaimers: We are not asking applicants to pay advance money for loan.
Note: Our app is currently Geo-restricted to users located exclusively in Nepal. As a result, some features of the app may not function as expected or may be limited when accessed from other regions. We only aim to deliver a seamless and meaningful experience to users who are situated within Nepal's geographical boundaries.
Apply for loan through our app:
Chandragiri Mobile Banking 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.
Personal Loan
For Personal loan, followings things apply:
A. Minimum Loan Amount NRs 10,000.00 Maximum Loan Nrs. 1,000,000.00
B. Loan Tenure: 60 months(1825Days)
C. Repayment mode: EMI
D. Grace Period: 6 Months. Interest must be paid in grace period.
E. Interest Rate: 14.75%
F. Processing Fees = 1 % of loan amount.
G. Eligibility:
1. Resident of Nepal.
2. Age above 18 years
3. Must have a guarantor.
4. Have an income source with tax clearance document
*APR = Annual Percentage Rate
H. The minimum period of repayment is 12 months and the maximum period of repayment is loan tenure period as per the agreement.
I. The Maximum Annual percentage Rate is 14.75%.
Example:
Let's say you are applying for a Personal loan of NPR 1,000,000.00 at the rate of 14.75% (annual) and your loan tenure is 5 years,
Equated Monthly Instalment (EMI)= Rs.23659.00
Total payable interest = Rs.407722.00
Total Payment = Rs. 407722.00
Loan processing fees = 1% of loan amount = 1% of Rs. 1,000,000.00 = Rs. 10,000.00
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 = 1,000,000* 0.0129 * (1+ 0.0129)^24 / [(1+ 0.0129)^24 ]-1
= Rs 23,659.00
So, your monthly EMI would be = Rs. 23659.00
The rate of interest (R) on your loan is calculated monthly i.e. (R= Annual rate of interest/12/100). For instance, if R = 14.75% per annum, then R = 14.75/12/100 = 0.0121.
so, Interest = P x R
= 1,000,000.00 x 0.0121
= Rs.12,123.00 for first month
Since EMI consists of principal + Interest
Principal = EMI - Interest
= 23,659.00-12,123.
= Rs.11536 in a first installment which can be vary on other installment.
And for the next month, opening loan amount = Rs.1,000,000.00-Rs. 11536.00 = Rs.988464.00
Smart Sapati Example
For Smart Sapati, followings things apply:
A. Sapati amount from NPR 10.00 to NPR. 2,000.00
B. Sapati Tenure: 30 days.
C. Repayment mode: Lump sum.
D. Grace Period: 24 hours for amount NPR 500, no grace period greater than NPR 500
E. Maximum Annual Percentage Rate(APR): No interest will be charged within grace period, 14.00% interest will be charge after grace period.
F. Service charge = NPR 2.00 upto Loan amount NPR 500.00, NPR 5.00 from NPR 501.00 to NPR 2,000.00.
G. Eligibility:
1. Applicant must have Chandragiri Mobile banking app
2. Can apply loan when your account balance is below NPR 105.00
2. Age above 18 years.
3. Applicant Must update KYM. The applicant can apply upto NPR 2000.00 with updated KYM, if KYM is not updated he or she is only eligible to apply upto NPR 500.00 only.
4. The applicant must have transaction in Regular Saving/Monthly Saving account within 90 days.
5. New smart sapati can be apply immediately after clearance of previous sapati.
Let's say you are applying for a smart sapati of NPR 2000.00 at the rate of 14% (annual) and your loan tenure is 30 days,
so Interest = (p * T * R)/100
= (2000*(1/12)* 14)/100
= NPR 23.33 (per month)
Total payable = principal + interest
= NPR 2000 + NPR 23.33
= NPR 2023.33
Disclaimers: We are not asking applicants to pay advance money for loan.
Note: Our app is currently Geo-restricted to users located exclusively in Nepal. As a result, some features of the app may not function as expected or may be limited when accessed from other regions. We only aim to deliver a seamless and meaningful experience to users who are situated within Nepal's geographical boundaries.
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