Tata Capital Unveils Instant Digital Onboarding for Commercial Vehicle Loans

26 Sep 2023 , 11:39 AM

Tata Capital Limited introduces instant digital onboarding for commercial vehicle loan customers, streamlining the loan approval process. Collaboration with major Original Equipment Manufacturers (OEMs) ensures a wide range of vehicle choices for customers.

The new initiative promises immediate financing solutions and a hassle-free customer experience, as stated in a September 25 press release. Relationship managers will guide customers through the digital sanction process, leveraging Vahan APIs for customer information and utilizing a scorecard for underwriting, minimizing documentation.

Customers can expect to receive a sanction letter within minutes after completing this streamlined process. The digital sanctioning system is an industry-first initiative, enhancing offerings designed specifically for SME customers.

Abonty Banerjee, Chief Operating Officer of Digital and Marketing at Tata Capital, emphasized the goal of providing innovative digital products for a frictionless customer journey. The product aims to swiftly meet funding needs for SME customers seeking commercial vehicle loans, simplifying the funding process.

For feedback and suggestions, write to us at [e-mail]