HDFC Bank, the country’s second private sector lender has launched a 10-second instant loan plan for its existing customers. After the PayZapp, an application to cater to e-commerce space, the 10-second loan is another offering from the bank under its digital platform GoDigital.
In a statement, it said, “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.”
It further elaborated, 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. 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 added.
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.”