Posted on: September 12, 2016

Federal Bank Introduces Digital Personal Loans

Digital Personal Loans

Private sector bank Federal Bank has introduced Digital personal loans. This facility would enable customers to avail personal loan immediately without going through any tedious documentation procedure.


Customers will be able to directly avail personal loans from the bank’s website in a minute. On accepting the offers on personal loans provided by Federal Bank, the loan money will be credited to the customer’s account within few minutes. Manual signatures of the applicant won’t be required on any document. This facility can be availed anytime and on any day.


All the existing customers of Federal Bank will be benefitted by this facility. Bank’s officials have decided to roll out this facility through mobile phones and ATM kiosks.  Digital personal loans rank third in the series of Be Your Own Master (BYOM) digital retail loans offered by banks across the country. First and second are mainly car loans and loans against property.


Federal Bank has already recorded 75% annualised customer growth in the usage of digital channels in this financial year. By launching such innovative digital products in the banking sector, Federal Bank aims to grow 200% in digital penetration by the end of this year.

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4 Comments

  • Sir my name is Abdul latheef I am asking for the personal loans because I have not property and income tax please help me
    and give me the loan amount Rs.1300000 I am thinking of the new manufacturer unit is (carbon papper manufacturing unit)please help me

    • Hi Abdul,

      Thanks for reaching out to Paisabazaar.com — leading online marketplace for cards, loans and investments. To apply for personal loan, click here, and our team will get in touch with you shortly after for further processing.

       

      Regards,

      Team Paisabazaar

  • I am a salaried person in private company 25k per /month. Then even banks denied for loan why so.
    I have it returns, salary slips, mutual fund s.
    They are provide only there known person and they have already sufficient fund then even they got high loans.
    I have urgent requirement.

    • Hi Jitendra,

      Thanks for reaching out to Paisabazaar.com — leading online marketplace for cards, loans and investments. When deciding on a loan application, banks consider several factors, such as income, current liabilities, credit history and repayment capability. Please apply for personal loan here, and our team will get in touch with you shortly after for further processing.

       

      Regards,

      Team Paisabazaar

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