Tag: car loans

Bank of Maharashtra launches digital lending platform for retail loans

Banking & Finance

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Bank of Maharashtra (BoM) has launched a Digital Lending Platform which will enable its current and prospective customers to avail home and car loans through a paperless process at the convenience of their place and time of choice.

The platform provides ‘in-principle approval’ for home loans and car loans instantly on filling in the required information digitally without human intervention, the Pune-headquartered public sector bank said in a statement.

Digitisation of services

Customers can avail the digital lending facility by visiting the bank’s website. The bank underscored that the platform is capable of validating KYC, CIBIL and financial information of the loan applicant and provide ‘in-principle approval’ in a hassle-free manner.

Also see: Empowering agri cooperative credit societies through digitalisation

A S Rajeev, MD & CEO, BoM, said the platform will help upscale retail lending through digitisation.

The Bank has taken several measures to strengthen its digitisation process internally, thereby facilitating delivery of hassle-free services, he added.

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Karnataka Bank launches loan campaign to cater to festival demand

Banking & Finance

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Karnataka Bank has launched a special campaign ‘KBL Utsav 2021-22’ for home loans, car loans and gold loans to cater to the festive demand. The campaign will be effective from October 7 to December 31.

A statement by the bank said customers can get the benefit of digital banking and offers of the special campaign across all the 857 branches of Karnataka Bank in the country.

Customers can get home, car and gold loans with special interest rates, concession in processing charges and other benefits under the ‘KBL Utsav’ campaign, it said.

Quoting Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, the statement said, Karnataka Bank helps its customers in realising their dreams of owning a home and a car, with real time customer authentication, hassle-free and simplified digital processing, immediate sanctions, etc., through its in-house developed digital products. “We are always with our customers as ‘your family bank’ in its true sense, to fulfil all the financial needs and share the happiness of festivities through our industry best customer service,” he said.

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PNB waives service charge, processing fee on retail products, BFSI News, ET BFSI

Banking & Finance

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Punjab National Bank on Tuesday said it has waived all service charges and processing fee on retail products as part of its festival season offering. Punjab National Bank (PNB) has launched a festival bonanza offer to enhance the availability and affordability of credit to customers, it said in a release.

PNB now offers an attractive interest rate starting from 6.80 per cent on home loans and 7.15 per cent on car loans, it said.

In the festive offer, the bank will waive all service charges/processing fees and documentation charges on its retail products like home loans, vehicle loans, myProperty loans, personal loans, pension loans and gold loans, PNB said.

Besides, PNB is offering personal loans starting from 8.95 per cent, which is one of the lowest in the industry, it added.

It also announced offering home loan top-up at an attractive rate of interest. PNB said customers can avail these offers till December 31, 2021.

The Delhi-headquartered lender said it is confident of seeing an encouraging revival in overall consumer spending, which will help boost its credit portfolio.



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