Syndicate Bank launches online credit facility for SMEs

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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 could visit its website and place the request, a bank release here said today.

The applicants would receive an acknowledgment automatically with a 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 the bank's website to ensure hassle-free process of getting loan, the release said.

The system would facilitate the Bank to increase flow of credit to SME sectors and educational loans. The design of the form was user-friendly and needed only basic information. 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 three or four weeks, the release said.

Syndicate Bank was also proposing to launch a similar scheme for professional and self-employed persons, traders, corporates, agriculturists and individuals proposing to avail home loan, it added.


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