NIC ASIA Bank Launches Smart FoneLoan; customers can receive loans upto Rs 2 lakhs via bank’s mobile banking app

NIC ASIA Bank has launched Smart FoneLoan an innovative digital Lending.  Under this digital lending service, qualifying customers can avail of a loan of up to maximum of Rs 2 lakh through the mobile banking app of the bank. The loan decision and amount are determined by the system based on decision analytics of the customer account history.

The best thing about this service is that it is a pre-approved, digitally processed, collateral-free loan and is available to qualifying NIC ASIA Bank mobanking users in a virtual credit card mode. The loan is instantly credited to the account upon application without the need to execute paper-based security documentation.

The bank currently provides its services to its strong customer base from its 359 branches, 473 ATM terminals, 106 extension counters and 81 branchless banking units throughout the nation.