HDFC Bank on Thursday launched a paperless instant loan plan for its existing customers under which the bank will disburse personal loans in just 10 seconds.
The quick disbursal of funds will help customers, particularly in medical or other types of emergencies.
“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 24×7,” the country’s second-largest private sector lender 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.
“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.
The 10-second loan scheme 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.