HDFC launches instant home loans on WhatsApp; Approval in 2 minutes; How to register

Leading housing finance company HDFC Ltd has launched a “one-time offer” on WhatsApp, to help get homebuyers approved in principle for a home loan. Announcing the new launch, HDFC said home loans in principle will be approved within two minutes. In partnership with Cogno AI, HDFC Ltd developed the solution based on WhatsApp business platform to offer conditional mortgage approval instantly. Prospective borrowers need only message HDFC’s WhatsApp number to begin the process, the mortgage company said in a press release.

“HDFC’s WhatsApp Spot offer is a platform that will allow potential borrowers to get instant home loan approval in principle. HDFC is constantly looking to improve its delivery capabilities using technology and provide convenience to clients looking for home loans to purchase the property of their choice,” HDFC said in the statement on Tuesday.

“With this innovative concept, HDFC has attempted to create a unique digital experience for its customers by integrating its services into an environment already familiar and frequented by its audience. Receiving a home loan approval letter on this platform is now possible thanks to HDFC’s revolutionary ‘spot offer’,” he added.

“HDFC’s ‘point offering’ is a one-of-a-kind platform that demonstrates how technology can be leveraged for the benefit of customers. Home ownership can now be instant, 24/7 and convenient with HDFC home loans,” the company said.

Here are the main features of ‘Spot Offer for Home Loans’

-Loans will be approved instantly, within two minutes and borrowers will receive a loan approval letter on WhatsApp.

-To begin the process, users need to initiate a conversation on HDFC’s WhatsApp number (+91 98670 00000) and provide some basic information, with just a few clicks through a guided conversation flow.

-Based on the information entered by the client, a provisional/conditional home loan offer letter is generated instantly.

-The home loan offer facility can be used 24×7. In addition to convenience, there is no “waiting time” for the home loan approval letter.

-The facility is only available to salaried resident Indians, HDFC said.

Speaking on the occasion, Renu Sud Karnad, Managing Director of HDFC Ltd, said, “We are pleased to launch this innovative platform integrated with WhatsApp. This will make it easier for potential buyers to qualify for a loan to buy their dream home. At HDFC, we focus and invest in digital transformation for better customer experience and better engagement. Housing demand in India remains extremely robust.

“Today there is a strong desire to own and housing demand continues to come from both new owners and those moving up the ownership ladder – typically in larger homes. now affordability is also better than ever and in India, as income levels rise, we will see young people being able to afford housing earlier in life,” she added.

HDFC’s “One Time Offering” is based on WhatsApp Business Platform, an enterprise solution that enables businesses to communicate with new and existing customers on WhatsApp in an easy, secure and reliable way.

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