HDFC Bank has launched an auto loan being disbursed in just 30 minutes.
Using biometric technology, 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 in a statement said.
HDFC Bank is a market leader in the auto and two-wheeler loan space and this solution will give the customer the freedom to walk into a showroom without any documents and obtain a loan.
"It will also reduce the turnaround time to process a loan, allowing the bank to improve efficiency and serve a larger number of customers."
"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 needs. If a customer walks in to an auto dealership, they can walk out with the vehicle the same day itself, which was not the case earlier," Ashok Khanna, Senior Executive Vice-president, Business Head (Vehicle Loans) said.
The 30-minute auto loan and 15-minute two-wheeler loan are the latest initiatives in HDFC Bank's digital banking offering christened Go Digital.