HDFC Bank launches first Digital Loans against Securities

HDFC Bank launched digital Loan against Securities (LAS) allowing customers to avail loans in less than 3 minutes. It is first of its king initiative in Indian baking industry. The facility will offer 10.5% interest rate on the product. The service will also be available to customers with no credit history. Under this facility, customers can avail a minimum loan of Rs 1 lakh and maximum loan up to Rs 20 lakh. To seamlessly deliver this product, bank has collaborated with National Securities Depository Ltd (NSDL).