Federal Bank rolls out e-loans

Federal Bank on Monday launched Fed-E-Credit, its digital loan facility and issued the first online loan. Through this facility, customers can apply for loans against their fixed deposits using FedNet, the bank’s Internet banking facility. The loans taken under Fed-E-Credit can be closed online through FedNet. The first 1,000 customers taking E-Credit will get interest rate concessions, the bank said in a statement.


Source : Thehindubusinessline