HDFC Bank launches '30-min auto', '15-min 2-wheeler' loans

Advanced 467 Reasoning Puzzles Book SBI PO 2018

HDFC Bank launches '30-min auto', '15-min 2-wheeler' loans

Country's second largest private sector lender HDFC Bank today launched '30-min auto' and '15-min 2-wheeler' loan schemes, for which customers have to provide only their biometric details. 

"The 30-minute auto loan is available for HDFC Bank customers, as well as others. With this technology-enabled solution, loans for two-wheelers can also be approved within 15 minutes," the Bank said in a release. 

Any person willing to avail a loan can walk into an auto dealership or any other touch points of the bank and provide the Aadhaar card number and fingerprint, it said. 

If eligible, based on the profile, the loan will then be approved with minimal documentation required from the customer within record time, it added. 

"Customer convenience lies at the heart of our digital banking initiatives. We believe the 30-minute auto loan will be the next level in financing and addressing customer need," said Ashok Khanna, Senior Executive Vice-president, Business Head (Vehicle Loans). 

The 30-minute auto loan and 15-minute two-wheeler loan is the latest initiative in HDFC Bank's digital banking offering christened Go Digital.