HDFC Bank: 10 Second Personal Loan Disbursement Scheme..

HDFC Bank: 10 Second Personal Loan Disbursement Scheme..

India’s second-largest private sector lender, HDFC Bank on June 18, 2015 launched a 10-second paperless instant loan plan for its existing customers.

“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 HDFC bank 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.

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 said

HDFC Bank Unsecured Loans, Home & Mortgage Loans Business Head Mr. Arvind Kapil said: “Most customers expect banks to connect the dots between online & offline options to deliver convenient, consistent service.”

The 10-second loan 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.


In financial year 2014-15, 63% of all transactions at HDFC Bank were conducted through digital channels.
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