Kathmandu. Prabhu Bank has launched a mobile phone loan facility for its customers. With the launch of this service, Prabhu Bank customers will be able to easily avail phone loan facility up to Rs.2 lakh.

For the time being, this facility can be availed only by the customers doing banking business by opening a paid account in Prabhu Bank, the bank said. Upon receipt of the request for the phone loan, the credit limit of the phone loan facility will be determined based on the transaction details of the customer concerned.

According to the bank, the repayment period of this loan will be up to 36 months at most. The bank has stated that this will put an end to the situation of having to go through financial shortage due to lack of cash as well as the hassle of having to come to the bank for small loan business.