Omsainag Mobile App

Omsainag Mobile App is a simple, secured and fast finance app for Omsainag Multipurpose Cooperative Limited. Here you can manage your account and access your Omsainag Multipurpose Cooperative Limited accounts faster and securely via internet or SMS.

The App is regularly updated with new features and new utility payments  for the user's convenience which makes it the best app for Omsainag Mobile App.

Here are the key features of Omsainag Mobile App:

Organize your account

• Quick track your finances
• Keep track of all your transactions through secured app

This app helps you to pay multiple utility payments though the app itself.

Transfer funds instantly
• Instantly transfer and receive funds

Receive and send money through remittance services

QR Payments: 

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

Highly secured app with two factor authentication and fingerprint.

Users can view Omsainag Multipurpose Cooperative Limited branches direcly via app.



Apply for loan through our app:

Omsainag Mobile 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 Om Sai Nag Laxmi Multipurpose Co-operative Ltd. Office)


Personal Loan Example

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(1 year) and the maximum period of repayment is loan tenure period as per the agreement (which is 5 years in this example).
I. The Maximum Annual percentage Rate is 14.75%.


Personal loan Example:
Let's say you are applying for a Personal loan amounted NRs 1,000,000.00 from the organization at the rate of interest 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


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