The bKash app has created an opportunity for bKash customers to take a 'digital loan' of up to 50,000 taka from City Bank. From now on, eligible bKash customers can take this collateral-free 'digital loan' from the app at any time, for any need. This digital loan service, launched in 2021 as a joint initiative of bKash and City Bank, has already earned the trust and confidence of customers.

Although the maximum limit of this digital loan was Tk 30,000 so far, recently, keeping in mind the needs, trust and convenience of getting loans quickly, this loan limit has been increased to Tk 50,000 following the instructions of Bangladesh Bank. Since its commercial launch, about 1 million bKash customers have taken more than 5.5 million digital loans from City Bank on the bKash app, amounting to about Tk 2,800 crore.

Customers can instantly get a 'digital loan' from City Bank in just a few clicks, from Tk 500 to Tk 50,000, with a maximum tenor of 6 months, by tapping the 'loan' icon on the bKash app. There is no need to go to the bank, no paperwork is required. Based on years of experience and success, this digital loan has become a notable example of financial technology services in the country.

The customer's creditworthiness and loan amount are determined through an automated process based on the review of customer transactions in the bKash account and City Bank's credit risk management policy. And those who have not yet come under the scope of the digital loan service can become eligible for a loan by using various services including add money, savings, payments, and more by using their bKash account regularly.

City Bank loan application and repayment process from bKash app:

Tap on the 'Loan' icon on the bKash app and enter the desired loan amount within the City Bank approved limit, read and agree to the terms and conditions carefully and go to the next step. Then, by tapping and holding the bKash account PIN, the loan amount will be added to the account immediately. Depending on the type of loan, the customer will have to repay the loan in monthly installments. The installment amount will be automatically deducted from the bKash account on the due date. However, if the customer wants, he can repay the loan partially or completely before the end of the term. In this case, interest will be paid only for the period used, and no additional charges will be applicable for advance payment.