Lloyds TSB introduces instant online loan service
02 June 2006 | 9447 views | 0
UK high street bank Lloyds TSB has lauched an online loan service that gives Web banking cutomers an instant decision and instant access to the funds if they are approved.
The new service, called QuickSign, is available to all Lloyds TSB's online banking customers and works by using log-in passwords as an electronic signature on the loan agreement.
Once a loan is approved the funds are transferred into their current account instantly between 9am and 8.30pm or by 9am the following day outside these times.
Walt Ramsey, consumer lending director, Lloyds TSB, says: "The growth of the Internet has made it much easier and quicker for customers to manage their finances and other daily chores and people now expect a quick decision when they apply for a product or service.
"With QuickSign, customers not only get an instant decision but also benefit from immediate access to their loan once it is approved."