Rules for getting a loan of 10,000 rupees from Bikash without collateral


Rules for getting a loan of 10,000 rupees from Bikash without collateral

Office of Science and Technology: If someone already has a Bikash account in his name and he wants a loan, the bank will grant him a loan of up to 10,000 rupees. City Bank introduced this digital loan for the first time. City Bank will get this unsecured loan for urgent needs. This loan amount can be used instantly via mobile wallet anytime and from anywhere.

Initially, as part of a pilot project, a loan of up to 10,000 taka will be available. But first select a limited number of Bkash app customers who will get this benefit. With the endorsement of the Bangladesh Bank with the aim of expanding financial inclusion activities, this project was undertaken to make bank lending more accessible to the public using technology.

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

Customers who opted for a loan under the pilot program will see the loan icon in their Bkash app. In order to benefit from the loan, the customer must agree to provide the information provided in his e-KYC form (Know-Your-Customer form) to City Bank. Later, you will immediately get the loan amount in your Bkash account along with the loan amount and your PIN. If a customer fails to repay the loan, City Bank will notify Bangladesh Bank of the defaulter information as per the rules.

As per Bangladesh Bank instructions, interest and other regulations applicable to this loan will be followed. Ant Financial, a subsidiary of Alibaba Group, the global technology leader, provides credit reporting facilities through AI (artificial intelligence) technology in such lending projects in various countries around the world, including China, India and the Philippines. In this project, credit scoring of customers will be done by this world renowned fintech company.

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

As the workers were digging the ground, they came out with ancient gold coins worth billions of rupees

Kamal Qadir, Managing Director of Bikash, said of the initiative, “Commercial banks can introduce new creative services using efficient digital financial platforms and a large customer base like Bikash to play a bigger role in the improving the quality of life and financial inclusion of people of all classes, including the marginalized, an example of this is City Bank’s digital lending project.

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