Syndicate Bank launches online credit facility for SME's

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Bangalore, Oct 22 (UNI) Public sector Syndicate Bank has launched online facility for submission of request seeking credit facilities for Small and Medium Enterprises (SMEs) and students for higher studies.

The prospective applicants seeking financial assistance from the bank can visit its website and place request, a release said today.

The applicants would receive an acknowledgment automatically with unique ID and the E-Mail address on which the form was submitted enabling them to track the status of their applications. With the launch of online credit facility the bank was leveraging technology for better customer service (under Syndvidya Scheme) through Bank's Website to ensure hassle free process of getting loan and faster decisions.

The system would facilitate Bank to increase flow of credit to SME Sectors and to Education loans. The design of the form was user friendly and needed only basic information for the applicants to fill in. If basic information submitted by the applicant was found in order, then branch officials would contact the applicant for getting additional information, if required for processing the loan proposal. All such applications would be disposed off within 3-4 weeks, the release said.

Syndicate Bank was also proposing to launch similar scheme for Professional and self-employed persons, traders, corporates, agriculturists and individuals desirous of availing housing loan.


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