SBM Bank India partners with Lendingkart to launch personalized overdraft facility

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SBM Bank India has partnered with fintech start-up Lendingkart to launch a personalized overdraft facility for over 1 lakh of fintech clients.

Sidharth Rath, Managing Director and Managing Director of SBM Bank India, said, in the current scenario for this customer segment across the country, the overdraft facilities provided by most lenders require borrowers to provide details of collateral such as property, term deposits and business inventories. , which many small businesses cannot provide.

“Our collaboration aims to solve such challenges through technology, efficiency and personalized solutions”, said Rath.

Harshvardhan Lunia, Founder and Managing Director of Lendingkart, said, the team has put their energies and investments into making sure they deliver the right credit product, especially in the midst of the new normal, and partner with the right financial partner who shares the same vision.

Read also: South Indian Bank partners with OneCard to launch credit card

“We look forward to working together for more opportunities to work together on new credit facilities offered and to use the Lendingkart platform and the forces on the ground to achieve the common goal,” said Lunia.

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