5 Mins Feb 15, 2022
Customer needs have undergone a sea change over the years. No longer are customers satisfied with just a strong value proposition. Ease of operability and instant delivery are also among their top demands.
And service providers, such as banks, are now focusing on delivering on these fronts. It has become easier thanks to massive digitization (including automation), which has helped traditional banks transform and become financially and technologically savvy.
One such customer-friendly and technologically savvy proposition is Axis Bank’s 24x7 Personal Loans for New to Bank (NTB) customers. It offers the modern-day consumer a straight-through experience that leads to the disbursal of the loan amount into the applicant’s salary bank account.
How is Axis Bank 24x7 Personal Loans different?
The need for additional funds could crop up at any time. For instance, you may have to pay for your daughter’s tuition fees and find yourself short of money. Or there may be a wedding in the family and you need funds urgently. It could also be a planned expense, such as an annual vacation. Whatever the need, it can be met easily with a Personal Loan since it is a collateral-free loan for personal use.
Earlier, the best option for availing of a Personal Loan was the bank you have an existing relationship with, as that would ensure faster service. But what if the interest rates were not to your liking? Then you would have to scout for better interest rates elsewhere and apply again. But this meant the loan application would be delayed.
Now you have another option to get instant funds at competitive rates – Axis Bank 24x7 Personal Loans.
[Also Read: Personal Loans: A backup for your emergency needs]
You can apply from anywhere - sitting in your home or office, or even while on the move. The journey - from applying for the loan to getting it approved and sanctioned—is entirely digital.
You can apply through Axis Bank’s official website. Since you are applying for the loan yourself, the scope for any error or misrepresentation of information is minimised.
The entire process is paperless. All you must do is provide your KYC, get the income assessment done seamlessly, and complete the verification process through vKYC. Therefore, it is equally easy for a non-Axis Bank customer to avail of 24x7 Personal Loans as it is for an existing Axis Bank customer.
Since the processing and vetting of the application and subsequent approval also rely on algorithms and technology, the chances of human bias or error are minimized. This also ensures transparency in decision-making. Despite the entirely digital process, you are also ensured of physical support from the bank’s personnel, if required, at any step during the entire application process.
Here is how it works:
- Apply for the loan via Axis Bank official website. Choose the eKYC option and ensure that your mobile number and current address are linked with Aadhaar
- Complete income assessment seamlessly with options like Account Aggregator, Net Banking Fetch or Statement Upload
- Validate and enter salary bank details. Make sure you have your net banking/debit card information on hand for auto repayment setup
- Allow access to the camera and location for vKYC. Keep PAN handy and answer the questions from the vKYC agent.
- Validate the agreement and eSign with your Aadhaar number and OTP
Today’s customer wants instant service and is unwilling to compromise on convenience, quality, and security. This is what 24x7 Personal Loans offers!
Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.