Kumari Bank has launched the Kumari Foneloan service allowing its customers to receive loans from mobile apps. The service lets the bank’s customers get small short-term loans of up to Rs 2 lakh to its customers through the Kumari Smart Mobile Banking app.
According to the bank, customers can apply for foneloan on the mobile banking app. After registration and applying for the loan, the bank assesses the customers’ details and verifies the further process. When the bank accepts the foneloan application, the amount applied for (loan) is deposited to the customer’s account instantly. The bank says that the entire process is completed within a few minutes.
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What is Kumari Bank Foneloan service?
Kumari Foneloan is a digital lending service offered by the bank for its eligible customers as a value addition. The digital loan service offers customers a quick solution to meet their short-term financial requirements. It is collateral and the application takes only a few minutes. The entire process is completed on a mobile phone within a span of a moment.
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Eligibility
Only eligible customers can apply for Kumari foneloan. The bank has an automated analytics system with a set of criteria to determine eligibility for the Kumari foneloan service. the bank expects the service to fully benefit its customers in urgent situations. For cash emergencies, to meet everyday requirements, or to pay a loan to someone, the Kumari Foneloan could be highly efficient for the bank’s customers.
Do remember that the repayment duration for the Kumari Foneloan service is set at 1 month. Additionally, customers can ask for digital loans for 3, 6, 9, or 12 months and make payments through equated monthly installments.
Customers can apply for Rs 1,000 to up to Rs 2 lakh in Kumari Foneloan service.