This Digital Initiative by Karnataka Bank Will Now Sanction Car Loans Within 20 Minutes

This Digital Initiative by Karnataka Bank Will Now Sanction Car Loans Within 20 Minutes

December 14: As part of digital initiative, Karnataka Bank on Friday has launched KBL Xpress Car Loan– a digitized version of car loan finance. Introduction of KBL Xpress Car Loan allows in-principle sanctions in under 20 minutes at customer’s choice of place and time. This technology-enabled solution has additional digital capabilities to provide end-to-end best-in-class customer experience.
Customers’ KYC authentication, Bureau score, Income, Risk assessment will be performed in real-time. This enables a hassle-free and complete digital loan sanction experience.
Mahabaleshwara M S, MD and CEO of the bank said that with the launching of KBL Xpress Car Loan digital product, Karnataka Bank has now acquired capabilities to sanction car loans within 20 minutes. The customer will have a seamless digital experience. He also mentioned that this new scheme will soon emerge as one of the most popular loan products of the bank.