Indian Bank introduces pre-approved personal loans

Business

Existing customers of the bank aged 21 and over with a regular income and a pension account can take advantage of this loan.

Existing customers of the bank aged 21 and over with a regular income and a pension account can take advantage of this loan.

Public lender Indian Bank launched its first digital product called Pre-Approved Personal Loan (PAPL) on Thursday, April 28, 2022.

This digital product, launched as part of its Wave (World of Advanced Virtual Experience) project, will provide its customers with instant loan disbursements in three simple steps, it said in a statement.

It is currently available to existing bank customers aged 21+ with regular income and retirement accounts.

This loan can be availed through IndOASIS mobile app, bank website and internet banking. The loan currently bears an interest rate of 10% per annum with the flexibility to choose between 10 and 48 months loan term with no foreclosure costs.

The project was launched by Indian Bank MD and CEO SL Jain in the presence of Executive Directors Imran Amin Siddiqui and Ashwani Kumar.

Leave a Reply

Your email address will not be published. Required fields are marked *