- Q. - Which bank has launched an instant digital Loan Against Securities (LAS) facility?
Description Of This Question
The HDFC bank has launched an instant digital Loan Against Securities (LAS) facility in collaboration with the National Securities Depository (NSDL), which allows customers to avail loans in less than 3 minutes. The service will also be available to customers with no credit history. The bank will offer 10.5% interest rate on the product and will soon expand the offering to other securities such as mutual funds, bonds and insurance policies. Under this facility, customers can avail a minimum loan of Rs 1 lakh and maximum loan up to Rs 20 lakh.
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