South Indian Bank has launched SIB QUICKPL, a digital platform for instant personal loans for new customers. The online platform allows salaried and self-employed individuals with good credit profiles to apply for unsecured personal loans with a completely paperless process, which can be completed in just 10 minutes. The loan amount is credited directly to a savings account with any bank in India.
The platform eliminates the need for document uploads by integrating with the Account Aggregator framework and Income Tax portal for verification. This means customers can apply for loans online without any hassle. The loan application process is fast, transparent, and customer-friendly, making it convenient for individuals to access financing options tailored to their needs.
South Indian Bank has been offering pre-approved personal loans to its existing customers through digital channels since 2019, with disbursal in under a minute. With SIB QUICKPL, the bank is now expanding this service to new customers. The platform is available on the bank’s website, https://pl.southindianbank.com/quickpl/.
Sanchay Sinha, Chief General Manager and Head of Retail Assets at South Indian Bank, highlighted the significance of SIB QUICKPL, stating, "We believe this initiative will empower individuals by offering quick, transparent, and customer-friendly financing options tailored to their dynamic lifestyles." With SIB QUICKPL, South Indian Bank aims to provide easy and convenient access to financing options for individuals, further strengthening its position as a major private sector bank in India.