Standard Chartered Bank India has launched an instant online personal loan approval solution. which will enable a customer to apply for a personal loan online and receive an 'Approval In Principle' (AIP) almost instantly. The press release announcing the launch has been attached and appended below for your reference.
The AIP will be followed by a final approval after completion of 'Know Your Customer' and credit approval processes. The online application process involves verification of key customer details such as the Permanent Account Number, mobile number, email ID and credit history through CIBIL and other internal eligibility criteria.