Many customers rush here and there for a small amount of loan for sudden urgent needs. If you go to the bank for a loan, you have to wait for a long time to get the loan. Sometimes it takes up to a month to get the loan. Not everyone can openly talk about loans even to their relatives. Private sector Dhaka Bank is going to launch instant digital loan facility to meet the urgent need of such customers for small loan. Through this one can apply for a loan through the app without any documents. Loans will also be available instantly, through the app. For this, the bank is going to launch special apps ‘e-rin’. However, only Dhaka Bank customers will get this benefit.

It is known that the bank has already started the experimental loan program through the e-rin app. Certain customers of the bank can apply for it. For now, the maximum loan amount is 25 thousand rupees under this facility. The maximum loan interest rate is 9 percent. Already around 1000 customers have taken this loan. They are paying the loan installments regularly. After loan approval through the app, the loan money goes to the customer’s Dhaka Bank. All the customers of the bank will be able to apply for this loan after the experimental program, said bank officials. The loan tenure in the pilot program is set at three to six months.

As a part of financial inclusion and digital banking services, the bank has launched instant digital loan facility without any documents. This loan is currently open to garment workers or workers in certain industries whose wages are paid through banks. Besides, this loan will be opened soon for all those who are customers of Dhaka Bank.

To apply for a loan through e-rin mobile app, the national identity card and proof of income must be submitted digitally. After that, the loan confirmation letter will come to the customer’s mail. If the loan is approved, the loan money will be deposited in the customer’s bank within 10-15 minutes. For now, to get this loan, you have to apply through e-rin, but in the future, this service will also be available on Dhaka Bank Go App.

Bankers say that many banks, including Dhaka Bank, have already introduced digital bank account opening and deposit services. Now if loan service is introduced it will add new dimension to the economy.

HM Mostafizur Rahman, Head of Retail Business Department of Dhaka Bank, told Prothom Alo, “Dhaka Bank has taken this initiative so that the customers of the bank can get small loans easily without any hassle. We have received good response by introducing this loan on an experimental basis. The service will be opened for all customers after Bangladesh Bank’s permission.

HM Mostafizur Rahman also said, ‘If this new service is launched, we hope that the number of customers of our bank will increase. Dhaka Bank will be one of the mediums of instant microcredit. The customer’s suffering will be reduced to get a small loan for urgent needs. There is no need to rush to the bank with documents.