HDFC Bank has launched instant paperless personal loan plan for its existing customers under which the bank will disburse personal loans in just 10 seconds. The users can simply log into their bank account via net-banking or mobile banking and avail of this loan at a click. The quick disbursal of funds will help customers, particularly in medical or other types of emergencies.

The entire procedure would be completely transparent and hassle-free and the customers won’t have to do any paperwork or any wait for the disbursement of the funds. This will be highly useful when the customer is in need of some cash urgently.

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.

Tidbits

• HDFC Bank Limited was incorporated in 1994. It is headquartered in Mumbai, Maharashtra.
• It is the fifth largest bank in India as measured by assets.
• HDFC Bank was the first bank in India to launch an International Debit Card in association with VISA (Visa Electron)
• The bank has three main product areas – Foreign Exchange and Derivatives, Local Currency Money Market & Debt Securities, and Equities.
• The Bank has overseas branch operations in Bahrain and Hong Kong.