Savings-Led Products and Services

The Financial Inclusion and Capability Components of the UKaid-Sakchyam Access to Finance (Sakchyam) invite interested and qualified microfinance institutions, cooperatives, and their consortium partners to submit a Full Application for designing, developing, and launching innovative savings-led products and services in partnership with Sakchyam through technical assistance, knowledge-sharing, and cost-sharing through the Sakchyam Challenge Fund (S-CF).

Today, roughly 40% of Nepal’s population is banked through formal institutions (Class A, B, C, and D). Another 20% receive financial products from non-bank formal financial institutions. However, these institutions and their clients are heavily concentrated in the Terai region and accessible hills.

Moreover, their products are limited, with many Financial Service Providers (FSPs) offering similar credit and savings products and very few providing micro-insurance, remittance, micro-leasing and money transfer services for the poor. While savings has been found to be instrumental in helping people build and protect their assets, savings remains limited and is done largely through informal mechanisms.

Applicants are encouraged to propose new concepts that expand the access to finance frontier and build upon successes and experiences in the region and internationally. While this RFP is savings-led, we encourage applicants to think about linking or bundling savings products with other financial products and services, including loans, remittances and microinsurance, and to also think about innovative new delivery channels, particularly ways in which the applicant(s) can partner with technology providers.

The Attached Full Application Pack gives:

  1. Terms of Reference (PDF format)
  2. Full Application Information Pack (PDF format)
  3. Full Application Format (Word format)
  4. Section 9&10 Financial Information (Excel format)

Click Here to Download the Full Application Information Pack