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What is Digital Pre-Approved personal Loan?

Bank has launched a customized digital pre-approved personal loan product for the existing customers identified by the Bank. The loan is already pre-approved by the Bank and does not require any manual intervention and physical documentation. The customer can avail the offer in few clicks and the amount will be automatically credited to his/her operative savings account. 

Key-Features and Benefits :

  • Zero Processing Fee and Pre-payment Penalty
  • No Documentation: The loan offered to customer is pre-approved and will not require any physical documentation.
  • No Branch visit: The entire process is end-to-end digital and customer can avail loan at his convenience without visiting the Branch.
  • Instant Disbursal: The loan amount is disbursed instantly to customer’s operative savings account.
  • No collateral required: This PAPL loan offered to customer without any collateral or security.
  • Flexibility: Customer has flexibility to choose the tenure, loan amount and EMI date.
  • Competitive Interest Rate: As customer offer is pre-approved, the customer is offered a competitive interest rate.
  • 24 x 7 Availability through U-Mobile – Customer can avail the loan at any time as per his convenience.

Amount and Tenure :

Customer has the flexibility to choose the loan amount and tenure. Maximum loan offer amount will differ for each customer as per his/her eligibility.

Minimum Loan Amount: Rs. 25,000.00

Maximum Loan Amount: Rs. 5,00,000.00

Tenure – 12 months to 60 months

Sample calculation:

Loan Amount

Rs. 1,00,000.00

Interest Rate

11.90 %

Loan Tenure

60 Months


Rs. 2219/-

Processing Fee


N.B.- Values shown above are for representation purpose only. Actual value may differ.

How to avail Pre-Approved Personal Loan

The eligible customers identified by Bank will receive communication via SMS/U Mobile notification. The customer will have to -

  1. Visit ‘App Store’/’Google Play Store’.
  2. Download and register on ‘U-Mobile’.
  3. Login to U-Mobile.
  4. Go to ‘offer section’ and select the offer.
  5. Select the loan amount and tenure and EMI date.
  6. Accept Terms & conditions and enter the OTP & T-Pin
  7. Amount will get disbursed in customer savings account


Repayment can be done in Equated monthly Installment (EMI). Mandate gets created during applying for PAPL loan which will debit the EMI on pre-selected date every month.