• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Paul Noronha

At the click of a mouse: Mr Subhash Malhotra, General Manager, Syndicate Bank, at a press conference in Mumbai on Monday. —

Our Bureau

Mumbai, Nov. 19 Syndicate Bank has launched an online loan application facility that does away with the branch as an intermediary for generating loan queries.

The bank has launched this facility for housing loans, educational loans, Rs 10 lakh and above loans for SME sector and Rs 2 lakh and above loans for self-employed, professionals and traders.

Mr Subhash Malhotra, General Manager, Mumbai Region, said the bank had earlier launched the facility for SME and educational loans and today extended it to other loan products as well. “Gradually we can add other products like auto loans and so on,” he said.

To use this facility, customers have to fill up the application form on the bank’s Web site. Once they submit the form, a unique reference ID is generated, which can be used for further reference. “The bank will say either ‘yes’ or ‘no’ to the customer within a maximum of 14 days. This facility will make it convenient for the customer to apply for the loan rather than physically go the branch,” Mr Malhotra said.

As on September 30, 2007, Syndicate Bank’s SME advances stood at Rs 4,734 crore and housing loans were at Rs 5,250 crore, both approximately 10 per cent of total advances of Rs 48,300 crore.

The bank has 1,603 branches on Core Banking Solutions, which cover more than 90 per cent of its total business.

More Stories on : Credit Market | E-Commerce & E-Business | Public Sector Banks

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
LIC Housing plans Rs 400-cr pref issue

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line