KATHMANDU, August 17: The Social Security Fund (SSF) has started providing loans to its contributors since Wednesday.
Under its special borrowing scheme, the contributors to the SSF can receive up to 80 percent of their deposited amount as an advance. In the collateral-based loans, it provides home loan, education loan and social loan.
The SSF issues home loans of up to Rs 7 million. However, the scheme is applicable only for the employees who have contributed for at least 36 months.
With the inception of loan issuance, the fund collected by the SSF will be taken into mobilization. Launching a special borrowing scheme and an SSF mobile app amid a program, the Minister for Labour, Employment and Social Security Sher Bahadur Kunwor said the SSF has taken its services to a technology-friendly mode.
The SSF has also started providing pension amounts and maternity amounts to the individuals concerned. According to the SSF, the money can be withdrawn via using its new mobile app.