Federal Bank launches digital loan- Fed-E-Credit

Monday, Aug 10, 2015,19:04 IST By metrovaartha A A A

Kochi | Federal Bank, a leading private sector bank with kerala as its head quarters, has launched Fed-E-Credit, an online loan against deposit scheme, the bank’s first digital loan.
Through Fed-E-Credit, customers could apply for loans against their fixed deposits online through FedNet (Internet banking facility), and avail an amount up to 90 per cent of the deposit value, a release said here today.
Loans availed under Fed-E-Credit could also be closed online through FedNet, it said adding an introductory offer, the first 1000 customers to avail Fed-E-Credit will be eligible for interest rate concessions.