Dubai-Mubasher: Dubai-listed Emirates NBD launched “InstaLoan”, the region’s first paperless and instant loan disbursal facility, according to a recent statement by the bank.

InstaLoan enables direct credit to customers’ accounts, up to pre-approved amounts, within seconds and without any paperwork.

“Emirates NBD was the first bank in the region to offer personal loans via online banking,” said Suvo Sarkar, senior executive vice president and group head – retail banking and wealth management, Emirates NBD.

The new service is another first-to market offering that will benefit existing customers, he added.