HDFC Bank said it will offer ZipDrive instant auto loans to customers in 1,000 cities across India. ZipDrive is HDFC Bank’s instant auto loan disbursal product for customers with pre-approved offer. The product will now be available in tier 2 and 3 cities across India. Auto loans can be availed within 10 seconds, HDFC Bank said in a statement. “Efforts to curb the spread of COVID-19 have changed consumer lifestyles and demand patterns as maintaining social distancing is necessary. With ZipDrive offering, bank customers wishing to avail an auto loan need not visit a branch or any other physical touchpoints,” the bank said.

This solution gives the customer with a pre-approved loan offer to avail an auto loan through net banking or via assistance from the bank’s phone banking team.

“Digital platforms will play an increasingly important role as India opens up further, post the lockdown.” said Arvind Kapil, country head – retail lending, HDFC Bank.

“We believe ZipDrive Instant Auto Loans offer a convenient and contactless form of availing auto loans from the bank at attractive price and terms. We are, therefore, able to connect with the customers at their homes and fulfil their requirements, all at a click of a button, on a device of their choice,” he said.