Customers have taken collateral-free digital loans more than 12.7 million times from The City Bank through the bKash app, with over Tk50 billion disbursed within three years of the service's launch.

So far, more than 1.9 million customers from all 64 districts of the country have availed the facility, with women accounting for 25 percent of the borrowers. Most users have taken the loan multiple times, indicating repeat usage of the service.

The instant digital loan facility offered through the bKash app has expanded access to finance, particularly for unbanked and underserved customers, contributing to sustainable financial inclusion. Without any paperwork or collateral, customers can access instant loans ranging from Tk500 to Tk50,000 at any time through the app.

Loan eligibility and limits are determined automatically using transaction data and technology-driven analysis by The City Bank. According to borrowers, the loans are commonly used for medical expenses, education, business capital, starting small ventures, travel and other emergency needs.

Customers are not required to visit a bank branch or submit documents to access the loan. Details such as interest rates, processing fees and other charges are displayed within the app before confirmation. Loan instalments are automatically deducted on scheduled dates when sufficient balance is available. In case of early repayment, interest is charged only for the actual number of days the loan is used. Customers also receive instalment reminders through in-app notifications and SMS.

In addition, bKash and The City Bank have introduced a "Pay Later" facility to support emergency and everyday purchases. Customers with insufficient balance in their bKash accounts can make payments using their digital loan limit. The amount can be repaid within seven days without interest or through convenient monthly instalments.

TBS / Bkash / City Bank PLC / Corporate