Syndicate Bank launches on-line credit requests

Ahmedabad, Nov 16 (UNI) The Syndicate Bank has launched an on-line facility for submission of requests seeking credit facilities by Small and Medium Enterprises (SMEs) and students for higher education (under Syndvidya Scheme).

The Bank is leveraging technology for better customer service, ensuring hassle free process of getting loan by prospective clients and faster decisions, General Manager K U Vasanth Rao said in a release.

Syndicate Bank is the first bank to launch an on-line request facility for SMEs, he said.

The interested applicants can visit Bank's website www.syndicatebank.in and submit an on-line request for credit facilities to be availed from Syndicate Bank branch of their choice.

The applicants will receive an acknowledgement of the form automatically with a unique reference ID and the e-mail address on which the form is submitted, enabling them to track the status of their applications. For taking quick decisions, regional offices are advised to process the loan application immediately and convey the decisions to the applicants.

The system will facilitate the Bank to increase flow of credit to SME sector and education loans as well as other sectors.

The design of the form is very user-friendly and needs only basic information for the applicants to fill in, Mr Rao said.

If the basic information submitted by the applicant is found in order, then branch officials will contact the applicant for getting additional information, if required for processing the loan proposal. All such applications will be disposed off within 3-4 weeks.

UNI