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World's only bank which gives loan without any document

16-OCT-2017 11:07
    banking throgh finger print

    In the present time not only in India, the citizens of almost all the countries of the world take loan from various banks for their needs. Generally, citizens have to deposit many types of documents in order to take loans from banks and loans are given to the citizens only after scrutiny of those documents. But you will be surprised to know that there is only one bank in the world, which gives loans to customers without any documents. In this article, we are giving detailed explanation about that bank who gives loan to its clients without any documenting.

    Bank which gives loan without any document

    World's only bank which gives loans to its customers without any document is Ogaki Kyoritsu Bank and it is located in Japan. However, this bank gives loans only in emergency situations. To gives a loan, this bank takes finger prints of its customers. Through this technique, Ogaki Kyoritsu Bank gives loans up to 2 million yen (i.e. 11.20 lakh rupees).
    Ogaki Kyoritsu Bank Biometric ATM
    Image source: Creativity Online

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    Introducing the process of lending through fingerprints

    Earthquake and tsunami in 2011 caused massive damage to Japan. After the end of this calamity, people had to face difficulties to build houses, because all their documents were destroyed due to earthquake and tsunami. The survivors of this tragedy needed money to start their home and business again, but the lack of documentation was not getting loans from banks. The main reason for this was that customers had to face a lot of difficulty in proving their identity for a loan.

    Therefore, Japan's Ogaki Kyoresu Bank made the process of giving loans easier in the year 2012. The bank introduced such a technique in which customers could print their palms and withdraw money from their accounts. Currently, more than 3 million Japanese are benefiting from this facility. While launching this scheme, senior officials of Ogaki Kyoresu Bank said that we have not forgotten that tragedy, so we have simplified the process of loan for the customers.

    Loan only to victims of natural calamity

    This loan is given only to victims of natural calamities. Soon after the natural calamity, this loan is given to customers for a month, So that people can fulfil their needs. Currently, 6 branches of Japan's Ogaki Kyoritsu Bank offer this loan.

    This technique can also be effective for India

    In India, natural calamities like floods, earthquakes are coming every year, therefore this technique can prove to be very effective in India too. Apart from the banking system in India, the use of biometric technology has started slowly in many areas. In such a case, if this technique is implemented, then ordinary citizens can get a lot of benefit during the disaster.
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