Kubernetes service external ip pending

I am trying to deploy nginx on kubernetes, kubernetes version is v1.5.2,
I have deployed nginx with 3 replica, YAML file is below,

apiVersion: extensions/v1beta1
kind: Deployment
metadata:
  name: deployment-example
spec:
  replicas: 3
  revisionHistoryLimit: 2
  template:
    metadata:
      labels:
        app: nginx
    spec:
      containers:
      - name: nginx
        image: nginx:1.10
        ports:
        - containerPort: 80

and now I want to expose its port 80 on port 30062 of node, for that I created a service below,

kind: Service
apiVersion: v1
metadata:
  name: nginx-ils-service
spec:
  ports:
    - name: http
      port: 80
      nodePort: 30062
  selector:
    app: nginx
  type: LoadBalancer

this service is working good as it should be, but it is showing as pending not only on kubernetes dashboard also on terminal.