SBI-Maruti on-line tie up for car loans

Kolkata, May 26: The State Bank of India (SBI) and Maruti Udyog Limited (MUL) have entered into a tie-up for easy processing of car loan, SBI's Chief General Manager (Bengal) Ashok Mukand said today.

The tie-up-SBI-MUL On-Line-Application- aims at processing car loan applications faster.

It envisages on-Line connectiviy of the major MUL dealers with the Retail Assets Central Processing Centre (RACPC) of the Bank for instant transmission of the car loan application details to RACPC.

" This will enable a conditional approval to be conveyed to the buyer within an hour and the sanction and disbursement process will be completed within 48-hours ,'' MUL Regional Manager Manish Singh said.

Mr Mukand said through the new initiative the Bank aims to reduce the Turn Around Time (TAT) for car loans, which would result in considerable improvement in customer satisfaction and convenience.

UNI