 "HDFC Bank launches 10-second personal loan disbursement scheme")
Country's second-largest private sector lender, HDFC Bank today launched a 10-second paperless instant loan plan for its existing customers.
"HDFC Bank will now disburse personal loans to its customers in just 10 seconds. With this product, existing customers will have a pre-approved loan amount available to them 24x7," the bank said in a statement.
The entire process of availing the loan is completely paperless, and users can simply log into their bank account via net-banking or mobile banking and avail of this loan at a click, it added.
The loan is completely hassle-free and transparent. Users will no longer have to wait for disbursement of funds, particularly in medical or other types of emergencies.
"It is like having a real cheque in one's virtual wallet and is part of our mission of enabling customer delight by creating simple and speedy banking solutions that are available at a click," the statement said.
Commenting on the development, HDFC Bank Unsecured Loans, Home & Mortgage Loans Business Head Arvind Kapil said: "Most customers expect banks to connect the dots between online and offline options to deliver convenient, consistent service."
The 10-second loan is another offering under HDFC Bank's digital banking platform GoDigital. Under the platform, the bank had launched PayZapp application to cater to e-commerce space.
In financial year 2014-15, 63 per cent of all transactions at HDFC Bank were conducted through digital channels.
"HDFC Bank will now disburse personal loans to its customers in just 10 seconds. With this product, existing customers will have a pre-approved loan amount available to them 24x7," the bank said in a statement.
The entire process of availing the loan is completely paperless, and users can simply log into their bank account via net-banking or mobile banking and avail of this loan at a click, it added.
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The loan is completely hassle-free and transparent. Users will no longer have to wait for disbursement of funds, particularly in medical or other types of emergencies.
"It is like having a real cheque in one's virtual wallet and is part of our mission of enabling customer delight by creating simple and speedy banking solutions that are available at a click," the statement said.
Commenting on the development, HDFC Bank Unsecured Loans, Home & Mortgage Loans Business Head Arvind Kapil said: "Most customers expect banks to connect the dots between online and offline options to deliver convenient, consistent service."
The 10-second loan is another offering under HDFC Bank's digital banking platform GoDigital. Under the platform, the bank had launched PayZapp application to cater to e-commerce space.
In financial year 2014-15, 63 per cent of all transactions at HDFC Bank were conducted through digital channels.