HDFC bank launches 3-minutes digital loan against securities service

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  • HDFC Bank launched digital Loan against Securities (LAS) allowing customers to avail loans in less than 3 minutes.
  • The service will also be available to customers with no credit history.
  • The bank, which will offer 10.5 percent interest rate on the product, will soon expand the offering to other securities such as;
    1. mutual funds,
    2. bonds and
    3. insurance policies.
  • Customers can avail a minimum loan of Rs 1 lakh and maximum loan up to Rs 20 lakh under this facility.
  • Banks normally disburse 50 per cent of the value of pledged shares as loan.
  • The bank has collaborated with NSDL to seamlessly deliver this product.
Quick Question for Bank PO/ IBPS Exams 2016-17:
Which bank launched digital Loan against Securities (LAS) allowing customers to avail loans in less than 3 minutes?
 – HDFC Bank. 

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