In a significant move towards digital banking, Canara Bank has announced the launch of its fully digital loan service against mutual funds, effective from 1st April 2025. This service allows customers to leverage their mutual fund investments to obtain loans without the need to liquidate their assets, offering a convenient and efficient solution for immediate financial requirements.
The upcoming digital loan service is designed to provide customers with instant access to funds by pledging their mutual fund units as collateral. Key features of this service include:
This digital loan service offers several advantages to customers:
As of January 28, 2025, 2:12 PM, the shares of Canara Bank are trading at ₹92.35 per share with a surge of 0.46% from its previous day’s closing price. Over the last month, the stock has declined by 7.11%.
Canara Bank’s fully digital loan against mutual funds marks a significant advancement in the bank’s digital offerings, aligning with the evolving preferences of customers for seamless and efficient banking solutions.
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Published on: Jan 28, 2025, 2:44 PM IST
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