Federal Insta Loans Platform
Federal Insta Loans Platform
An easy and convenient platform which enables business clients to avail digital in-principle loan sanction for their credit requirements in less than 30 minutes, after assessing the eligibility of the borrower based on the rules integrated in the platform.
The platform uses sophisticated algorithms to read and analyze data points from various sources such as IT returns, GST data, bank statements, MCA, bureau in less than an hour while capturing the borrower’s basic details using smart analytics. It also analyses Balance sheet/Financial statements from the income tax returns (ITRs) uploaded by the borrower and provides detailed financial analysis required for sanctioning the loan. Borrower will receive an online in-principle sanction letter after completion of the process. Borrower can visit their respective Federal Bank branch selected during the journey along with the in-principle sanction letter and complete the remaining loan sanction formalities.
The borrower journey in the platform for obtaining in-principle loan approval is completely digitized and does not involve any manual intervention. The platform offers in-principle sanctions for business loans up to Rs 2,00,00,000/- (Rupees two crore) to eligible micro, small & medium enterprises (MSME) through this platform. The platform aims to reduce the overall TAT involved in sanctioning business loans to a greater extent.