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The loan amount is credited directly to a savings account with any bank in India.
The bank has been offering pre-approved personal loans to its existing customers through digital channels since 2019, with disbursal in under a minute.
The platform eliminates the need for document uploads by integrating with the Account Aggregator framework and Income Tax portal for verification, the lender said.
Customers can apply for loans through the SIB QUICKPL portal at https://pl.southindianbank.com/quickpl/.
Sanchay Sinha, CGM & Head – Retail Assets, South Indian Bank, said: “We believe this initiative will empower individuals by offering quick, transparent, and customer-friendly financing options tailored to their dynamic lifestyles.”
South Indian Bank is a Kerala-based private sector bank. It operates 950 branches, 1,154 ATMs, and 126 CRMs across India, with a representative office in Dubai, UAE.
The bank’s shares are listed on BSE and NSE.