HDFC Bank set to launch instant credit approvals for LAS segment.

 

Instant credit cards, personal loans in 10 seconds, auto loans in 30 minutes and now loans against shares within a few minutes. HDFC Bank, the second largest private sector lender in the country, is set to launch Design Your Own Loan, an instant credit approval for its loan against shares (LAS) segment. The eligibility criteria, tenure and rate of interest will be the same as offline loans. The bank has now automated various parts of it at the back-end to make approval possible within minutes.

A customer applying for LAS can now link his demat to his HDFC net-banking account, see which of his holdings are eligible to be pledged and how much weightage they carry. They can try different combinations, decide which scrips they want to pledge and optimise their eligibility. The digitised system also assesses the customer's eligibility algorithms based on data analytics and credit reports making it human-intervention free.

The customer still has to sign the documents as end-toend digitisation is not possible due to regulations. However, you won't have to visit the bank. A manager will be at your doorstep to get the paperwork done.

Last week, the bank introduced 30-minutes automobile loan disbursements using biometrics technology linked to one's Aadhaar card number

Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015

1.ICICI Prudential Tax Plan

2.Reliance Tax Saver (ELSS) Fund

3.HDFC TaxSaver

4.DSP BlackRock Tax Saver Fund

5.Religare Tax Plan

6.Franklin India TaxShield

7.Canara Robeco Equity Tax Saver

8.IDFC Tax Advantage (ELSS) Fund

9.Axis Tax Saver Fund

10.BNP Paribas Long Term Equity Fund

You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds

Invest in Tax Saver Mutual Funds Online -

Invest Online

Download Application Forms

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

---------------------------------------------

Leave your comment with mail ID and we will answer them

OR

You can write to us at

PrajnaCapital [at] Gmail [dot] Com

OR

Leave a missed Call on 94 8300 8300

---------------------------------------------

Invest Mutual Funds Online

Invest Any Mutual Fund Online

Download Mutual Fund Application Forms from all AMCs