Do you want to know about City Bank Baksh Loan, System, and Process? For the first time in the country, City Bank has come up with a non-collateral instant digital nano loan. You can avail loan by BKash App. Bkash customers will immediately get a non-bailable digital nano loan from BDT 500 to BDT 20,000. You should pay the loan in 3 installments at an annual interest of 9%.
Now, We will let you know about bkash city bank loan process, system, and interest.
BKash customers can avail of this loan through the app and can be repaid through the app itself. Digital nano loan is a landmark addition to the country’s financial system. This will provide an immediate loan to a large population outside the banking service.
Eligible Bkash users will get loan at any time from anywhere to their mobile app. This will really give the customer more freedom and the ability to make financial transactions.
How to Apply Bkash Loan
The interest rate account for digital nano loans will be on a daily basis. Bkash user will bear the interest for only a few days if he pays before the expiry date. You don’t have to pay a processing fee for borrowing or early settlement. First, You have to tap the ‘Loan of Banks and Financial Institutions’ icon on the BKash app.
The next step is to enter the desired loan amount within the limit approved by City Bank. After giving Vikas PIN, the customer will immediately get the loan money in the BKash account subject to eligibility. Learn more about this digital loan here.
City Bank Bkash Loan System
City Bank will not charge any processing fee for loan from Bkash Users till further announcement.
Why Some Bkash Users is Not Eligible For City Bank Loan?
Many bKash customers are trying to get loans. But most customers are not getting this loan. In their development apps, ‘Sorry, your development account is still not suitable for credit service as per the financial institution lending policy. It is being asked to use development regularly.
BKash authorities said only customers who have joined the development through the biometric system (E-KYC) are getting digital loans from Citibank. Only those who are using BKash apps and regularly transact in different types of transactions are getting priority in getting loans. As a result, those who have become customers with national identity cards in a conventional manner are not yet getting loans. In addition, those who are not using apps will also not get loans.
The BKash authorities are taking initiatives to re-register through EKYC for those who have become customers by completing KYC in a conventional manner. This will enable many more customers to avail loan. In addition, they have also taken initiatives to bring those who have become customers in a conventional manner under loans. Bangladesh Bank has been contacted for this purpose.
As directed by the Central Bank, e-KYC has become a customer through a biometric system, and only they can be given loans.
BKash customers who are eligible for loans are getting instant loans with a few clicks in the ‘Loan’ section of Vikas Apps. For this, no documents have to be signed, no nominee or guarantor is required. Through this, Bangladesh has entered the era of digital microcredit.