HDFC Bank unveils new personal loan product

‘Swift’ enables the lender to cut loan processing to 24 hours.

Private sector lender HDFC Bank has launched personal loan 'Swift', a product that is processed in 24 working hours of receiving complete loan document.

Using cutting-edge imaging solution technology, the bank will now set the pace in this product category and ensure that loan processing will start the moment a customer steps into a branch in the morning and be complete in 24 hours, HDFC Bank said in a statement in Economic Times.

Swift will soon be available to all customers who hold salary accounts with the bank in 25 select branches across the country, keeping in mind customers' need for instant solutions to their financial needs, it said.