bkash increases digital loan limit in partnership with City Bank

Business Report :

bKash users can now access collateral-free digital loans of up to Tk50,000 from City Bank directly through the bKash app-anytime and from anywhere.

This enhanced service builds on the growing demand, trust, and convenience that have been experienced since the initiative’s launch in 2021.

Initially capped at Tk30,000, the loan limit has been increased to Tk50,000 in response to customer feedback and in compliance with the Bangladesh Bank’s regulatory guidelines, says a press release.

The digital loan initiative, a joint collaboration between bKash and City Bank, has already become a notable fintech success in the country. Since its commercial rollout, nearly one million customers have availed loans over 5.5 million times, totalling around Tk28 billion.

Eligible bKash users can now apply for instant loans ranging from Tk 500 to Tk 50,000 with a repayment period of up to six months.