Kumari Bank to provide 1 lakh as loan to its needy depositors under Phone Loan scheme; borrowers don’t need any security deposit to avail credit facility

Kumari Bank has launched the Kumari Phone Loan service for its depositors having their salary accounts with the bank.

As per the new arrangement, account holders will be able to avail the credit facility of up to Rs 1 lakh for a month without any security deposit. The loan application can simply be placed via the mobile banking service of the bank, as per the media statement.

Kumari bank currently provides its services from its 184 branches, 144 ATM outlets, 21 branchless banking units and 13 extension counters under its network.