Mega Bank begins collateral free Mobile Loan service; to provide credit facility of up to 2 lakhs within few minutes of loan application

Mega Bank has begun a loan from smartphone service under which its account holders can now apply for the bank loan right from their mobile banking app.

Under this scheme, customers having their salary accounts in the bank can obtain quick loan of up to Rs 2 lakh without any collateral for the use of 30 days. the loan application can be submitted via mobile banking service of the bank in an association with F1 Soft’s mobile loan service, as per the media statement.

The bank will extend the loan within a few minutes of submitting loan application where the loan amount will be deposited into borrower’s account, as per the media statement.