South Indian Bank (SIB) has launched ‘SIB QUICKPL’, a fully digital personal loan platform designed for new customers. This innovative, in-house solution allows salaried and self-employed individuals with strong credit profiles to avail unsecured personal loans in just 10 minutes. This initiative aligns with India’s digital banking revolution, ensuring faster and more efficient loan services for customers.
About ‘SIB QUICKPL’
Seamless & Paperless Process: The entire loan application process is digital and hassle-free, requiring no document uploads.
Direct Disbursal: Once approved, the loan amount is credited instantly to the applicant’s savings account.
Integrated Verification System:
- Linked with the Account Aggregator framework.
- Connected to the Income Tax portal for instant verification.
Vision of Trust & Technology:
- Reinforces South Indian Bank’s commitment to digital banking innovation.
- Ensures quick, transparent, and customer-friendly financing.
Key Features of ‘SIB QUICKPL’
- Instant Loan Approval: Digital processing ensures quick sanction and disbursal, with funds transferred within minutes.
- Flexible Repayment Options: Borrowers can select loan tenure between 12 to 48 months as per their convenience.
- Competitive Interest Rates: Tailored interest rates based on the applicant’s credit profile.
- 24/7 Accessibility: Apply anytime, anywhere using a smartphone or laptop.
- Unsecured Loan: No collateral or security required.
- No Hidden Charges: Transparent loan terms with clear pricing.
- Credit Score Benefits: Timely repayments can boost the applicant’s credit score.
About South Indian Bank (SIB)
- Private sector bank in India, established in 1929.
- Headquartered in Thrissur, Kerala.
- One of the first scheduled banks in Kerala.
Historical Milestones
- 1929: Founded in Thrissur, Kerala during the Swadeshi movement.
- 1929: Registered under the Companies Act.
- 1946: Attained Scheduled Bank status.
- 1957: Became the first private sector bank in Kerala to receive an RBI license.