• An Industry first offering for renewals up to INR 2 Cr
• Instant login to sanction process
• Exclusive offering for existing customers with a proven track record
Mumbai (LiveBharat24) : Tata Capital, the financial services arm of the Tata Group launches an exclusive digital automatic renewal process for select Channel Finance customers. As an industry first, customers can now renew their loans uptoRs 2 crores instantly with a completely new digitized model.
The latest automatic renewal loan will provide this service with the help of a proprietary rule engine that consumes over 100 data points to enable instant sanction. With no pre – sanction documentation, the customer’s eligibility is calculated as per their past payment records. The objective is to enable faster credit decisions, bring efficiency to the entire login to sanction process and offer more value to an eligible customer.
Speaking on the launch of the product, Ms. Abonty Banerjee, Chief Digital Officer, Tata Capital said, “One of the main advantages of an automatic – renewal sanction is that our eligible customers can now have access to funds instantly. This enables them to focus on their business as sanctions for loans uptoRs 2 crores is a very simple and convenient process. Our aim is to offer our channel finance customers compelling digital propositions that helps them meet their funding goals. “
Tata Capital’s pre – approved automatic renewal loan digital platform is the latest addition to the existing bouquet of offerings exclusively for the channel finance segment. Customers can also avail loans across various other categories which include working capital for SMEs, channel finance and sales invoice discounting amongst others.