Correct Answer : Option (A) - Indian Bank
Indian Bank has launched a Pre-Approved Personal Loan (PAPL) product under Project World of Advanced Virtual Experience (WAVE), which will be serviced only through digital channels.
The PAPL loan can be availed via 'IndOASIS' mobile app, bank’s website and internet banking facility. The loan carries an interest rate of 10% pa at present with no foreclosure charges.
Indian Bank is giving the loan at the finest conditions available in the domestic market, with the option to choose loan tenure from 24 to 48 months and the ability to close the loan before time without penalty.
Started in January 2022, the digital transformation initiative of
Indian Bank under Project ‘
WAVE' has led to launch of its first digital product PAPL that aims at providing its customers with instant loan disbursement via a
three-step process. Currently, it is launched for existing customers of the bank aged
21 years and above, having regular income and pension accounts...
Source : Times of India
