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“Pick Now Pay Later” FAQs


Q. What is this scheme? 

A. When you buy our furniture, you can take a loan from your bank to finance this purchase. You will have to pay back the bank in monthly installments (EMI) but you will have to ONLY pay the principle amount (i.e. at 0% interest)

Q. What is the benefit of this scheme?

A.  You don’t have to pay 100% cash up front. 

You will pay a fixed amount every month to your bank without having to pay interest. 

For example, if you purchase a product of NPR 100,000 and choose a term of 18 months, you have to pay only NPR 5,555.55 every month. 

Q. Is there a minimum amount that you have to spend to avail this scheme?

A. Yes. It varies according to banks.

Bank

Minimum amount

Maximum amount

Term

Global IME

NPR 100,000

NPR 200,000

6, 12, 18 months

Nabil Bank

NPR 100,000

NPR 200,000

6, 12, 18 months

Nepal Investment Bank

NPR 100,000

NPR 200,000

6, 12, 15, 18 months

Siddhartha Bank

NPR 100,000

NPR 10,00,000

6, 12 months 

Laxmi Bank

NPR 100,000

NPR 5,00,000

3 - 18 months

Century Bank

NPR 100,000

NPR 5,00,000

6, 12, 18 months

Machhchhapuchhre Bank

NPR 100,000

NPR 10,00,000

6, 12, 18, 24 months

Prabhu Bank

 

 

 

 

Q. How do I become eligible for this scheme?

A. Every bank has their own terms and conditions. The most basic ones are listed below:

Bank

Eligibility

Global IME

Credit card holder

Nabil Bank

Credit card holder 

Nepal Investment Bank

Credit card holder 

Siddhartha Bank

Credit card holder

Century Bank

Credit card holder

Laxmi Bank

Credit Card holder + Personal loan (Contact the bank for details)

Machhachhapuchhre Bank

Credit card holder

 

Q. What if I bank with more than one of your bank partner, how do I choose?

A. This is YOUR choice. Our suggestion is to choose the bank which charges minimum processing fees. 

Q. What if I do not bank with any of your bank partners?

A. You can apply for a credit card or personal loan to be eligible and we will assist you in this process.

Q. How do I apply for the loan?

A. If you’re credit card customer (NIBL, Global IME, Nabil & SBL), fill the application form and we’ll do the rest. Your bank will contact you once your application has been processed and approved. 

If you wish to take a personal loan (Laxmi), please contact your bank along with the quotation that we will provide you which list the products you wish to buy from us and they shall process it for you. 

Q. How long does it take to process the application?

A. If you are a credit card holder it will take 4-5 working days.

If you’re a loan customer it will take up to 7 working days. 

Q. What if my application is rejected?

A. This is between you and the bank. SB Furniture will not be able to assist you in securing or guaranteeing a loan.

Q. What happens once my application is approved?

A. Your bank will contact you to sign the loan documents after which they will give you a “Delivery order” (D/O). We will schedule for delivery of the furniture once we receive the D/O from you. On the day of delivery, we will send the same D/O to you which you will be required to sign. Please make sure it is the applicant who signs the D/O since it will be verified by the bank. 

Q. What if I cannot pay the bank EMI?

A. In this scenario the bank’s terms and conditions shall apply.