KUALA LUMPUR, May 31 — CIMB Bank Bhd and ClMB Islamic Bank Bhd (ClMB) today unveiled the ‘CIMB One-Minute Auto Financing InstaApproval’ digital platform where your car loan can be approved in one minute upon full submission of information and documents.

CIMB Group chief executive officer (CEO), Datuk Seri Tengku Zafrul Aziz said at the launch that the one-minute proposition reflected the bank’s promise to provide customers with not only great financial products and services, but also the speediness and accuracy of delivery.

"This is a game changer in how you can easily apply for a car loan. With just your identity card, as well as minimal information, you’re one minute away from owning your dream car,” he said.

At the event were also representatives from Cycle & Carriage Bintang Bhd, Edaran Tan Chong Motor Sdn Bhd, Honda Malaysia Sdn Bhd, Ingress Auto Malaysia Sdn Bhd, Perodua Sales Sdn Bhd, Perusahaan Otomobil Nasional Sdn Bhd and UMW Toyota Motor Sdn Bhd.

"The entire process is fast, paperless and secure, representing a fulfilment of CIMB’s commitment to continuously enhancing customers’ experience,” said Tengku Zafrul.

CIMB Group Consumer Banking CEO, Samir Gupta, said: "CIMB’s instant approval process — currently the fastest in the market — is a paradigm shift in approval time for auto financing, which typically takes days.

"We only change the way we process it, not the way we look at credit or compromise on credit quality. Bear in mind, it is not just an in-principal approval status or a conditional approval.”

Provided to all types of cars, whether new or used, the approval comes complete with the issuance of a Letter of Undertaking and instant notification via SMS and e-mail to the customer and car dealer.

The CIMB One-Minute Auto Financing InstaApproval facility will be available at selected partner showrooms, partner roadshows, as well as selected used-car dealers. For more information, visit www.cimbbank.com.my/insta — Bernama