CSB Bank launches Turbo Loan for MSMEs; offers simplified loans based on a digital scorecard

In its commitment to support MSMEs accelerate their growth journey, private sector lender CSB Bank has unveiled a new loan offering -SME Turbo Loan. A simplified loan-solution product, CSB Bank aims to streamline the lending process by offering quick, hassle-free access to credit to MSMEs across various sectors.

Some of the key features of the SME Turbo Loan are:

- Loans up to ₹5 crores
- OD, TL and Trade facilities offered
- Instant In-principle sanction
- Loans approved based on a simplified scorecard

Speaking about the new loan offering for small businesses, Mr. Shyam Mani, Group Head - SME Business said, "This multi-featured product is built to offer faster, easier and more transparent credit solutions to empower MSMEs to reach their full potential. The Turbo Loan product simplifies the way SMEs access credit, by offering instant in-principle sanction, based on a simplified credit assessment, which is unique in the market. By eliminating the traditional bottlenecks of the lending process, we are not only empowering small businesses achieve rapid growth but also contributing to the overall development of the economy. Scorecard is developed in collaboration with industry experts with wider expertise."

This product is part of CSB Bank's broader mission to help MSMEs thrive in today's dynamic business environment, while also aligning with the bank's Sustain, Build, Scale 2030 goal.

Shares of CSB Bank Limited was last trading in BSE at Rs. 311.25 as compared to the previous close of Rs. 308.55. The total number of shares traded during the day was 68395 in over 559 trades.

The stock hit an intraday high of Rs. 319.10 and intraday low of 310.00. The net turnover during the day was Rs. 21679548.00.

Source : Equity Bulls

Keywords

CSBBank INE679A01013 MSME TurboLoan