J&K Bank has launched Phone Pe Loan facility through its Mobile Banking mPay app. The e-loan service will facilitate users to get loan from the bank through mobile phone. For now the Phone Pe Loan facility is only for J&K police personnel’s. Deputy Chief Minister of Jammu and Kashmir, Dr Nirmal Singh, launched the e-loan app at Police Diwali Mela.
J&K Bank’s Phone Pe Loan is a customized app-based loan facility. This will reduce the time of police personnel’s in taking loan from the bank as they are always on duty and it is hard for them to get time. You can get loan through Phone Pe Loan for J&K Bank Saral/Saholiat Loan product and J&K Bank Cash Credit scheme.
Advantages of Phone Pe Loan Mobile App
This is another step of J&K Bank to provide services at digital platform. The service will help in
- Easy Approval and sanction of Loan with-in 2 hours of request
- Simple, Fast and secure method to get loan
- Hassle free and Paper less work
- The service is available for 24*7 as it is provided through J&K Mobile Banking App
- Reduce time as there is no need to visit the bank branch
- No need of Manual signature or document
How to Apply
Customers registered with bank’s loan book can apply for loan through this service
- Open the J&K Bank’s Mobile banking App mPay in your smartphone
- Now enter your Username/ ID and password and login in app
- Request for Loan from bank’s Central Processing Centre
- The Request will be disburse in a defined time
The bank has linked the data of J&K police employees with the database of their bank. This will make the process faster as customers not need to go to their employee section. The service will soon be expanded for other government officials and general public. To provide digital banking services the bank also set up Mobile ATM and stall at Police Diwali Mela.