Instant consumer loan by HDFC Bank available through CSC

HDFC Bank and Common Services Centers (CSC) have joined hands to empower consumers in rural and semi-urban areas to buy products through 'instant consumer loan' that will be facilitated by the network of over 3.70 lakh CSCs across the country.

A person just needs to carry a registered mobile phone and ID proof and a loan will be sanctioned on the spot at the nearest CSC. A unique reference ID will be generated once the process is completed which can be used across 20,000 stores for purchasing over 100 brands and avail Easy EMI. The loan can be used for electronic items, smartphones, health and wellness, furniture, home decor and more.

Speaking at the launch, Smita Bhagat, Group Head – Government and Institutional Business (GIB) and Start-ups at HDFC Bank said, “We at HDFC Bank have always strived to enhance our customer's convenience and provide them with innovative solutions. The introduction of “Instant Consumer Loan” will help assist our rural customers to make things affordable, which otherwise would seem rather difficult with limited income."

“This will help the citizens in rural and semi-urban areas to easily finance their purchases using convenient monthly instalment payments across merchants supported by CSC, ” Dinesh Kumar Tyagi, Managing Director at CSC, Special Purpose Vehicle (SPV) said.