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Rules for getting a loan of 10 thousand rupees from Bikash without collateral

Rules for getting a loan of 10 thousand rupees from Bikash without collateral
Rules for getting a loan of 10 thousand rupees from Bikash without collateral

Science and Technology Desk: If someone already has a Bikash account in his name, and if he wants a loan, then the bank will give him a loan of up to 10 thousand rupees. City Bank introduced this digital loan for the first time. City Bank will get this unsecured loan for urgent needs. This amount of loan can be availed instantly through mobile wallet anytime from anywhere.

Initially, under a pilot project, a loan of up to 10,000 taka will be available. But first select limited number of Bkash app customers will get this benefit. With the approval of Bangladesh Bank with the aim of expanding financial inclusion activities, this project has been undertaken to make bank loans more accessible to the public with the help of technology.

After the successful completion of the project, subject to the approval of the Central Bank, City Bank will officially open this service to eligible development customers for loans. The loan will be automatically disbursed from the customer’s development account on the due date in three equal installments in three months after taking the loan. Before the scheduled date, the customer will receive a notification in this regard through SMS and app.

Customers who have opted for a loan in the pilot scheme will see the loan icon in their Bkash app. In order to avail the loan, the customer has to agree to provide the information provided in his e-KYC form (Know-Your-Customer Form) to City Bank. Later you will get the loan amount in your Bkash account immediately with the loan amount and your PIN. If a customer fails to repay the loan, City Bank will inform Bangladesh Bank of the defaulter’s information following the rules.

As per the instructions of Bangladesh Bank, interest and other regulations applicable with this loan will be followed. Ant Financial, an affiliate of Alibaba Group, the world’s leading technology company, provides credit assessment facilities through AI (Artificial Intelligence) technology in such loan projects in various countries of the world including China, India, Philippines. In this project, the credit assessment of the customers will be done by this world famous fintech company.

Regarding the project, City Bank Managing Director and CEO Masrur Arefin said, ‘We always try to be close to the needs of our customers.’ He said, ‘Many people in our country, especially small traders, need money suddenly. How can it be easily delivered to them and they can easily use the money, this digital loan journey is in mind.’

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Kamal Qadir, Chief Executive Officer of Bikash, said about the initiative, ‘Commercial banks can introduce creative new services using effective digital financial platforms and large customer base like Bikash to play a stronger role in improving the quality of life and financial inclusion of people of all classes, including the marginalized. This digital loan project of City Bank is an example of that.

The article is in Bengali

Tags: Rules loan thousand rupees Bikash collateral

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