Your loans will not only become cheaper, but will be disbursed faster, within seconds. In three weeks, HDFC Bank will offer personal loans disbursed in 10 seconds through net banking, as it expands market share and gears up for increased competition from non-banking finance companies (NBFCs). The offer is for existing customers of HDFC Bank, and will be available 24 hours a day. Customers will need to fill an online form and will be directed for a one-time password as additional security. "We will disburse the loan in 10 seconds, even at 2AM," Arvind Kapil, senior executive vice-president, unsecured loans, home and mortgage loans, told HT. "We felt there is need to create a business opportunity through customer convenience. Today, in consumer finance, public sector banks account for 40% market share, private banks (such as HDFC) have more than 24% and NBFCs about 30%. But unlike banks, NBFCs do not have a liability franchise. So there has to be a clear differentiation in services," he added HDFC Bank is currently testing the scheme and will formally launch it in three weeks. This offer would be the world's fastest loan disbursal; M Bank in Poland offers disbursals in 30 seconds. "This has been done through better technology, analytics and credit bureaus," Kapil said. Since the recipients are existing customers whose details are known to the bank, fears of payment defaults are minimum. "This will change the way retail lending is conducted," Kapil added.