The State Bank of India (SBI) has launched an online lending platform named Online Customer Acquisition Solution (OCAS).

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The new platform will enable customers to apply for home loans, car loans, education loans and personal loans online without the need for physically visiting branches.

The solution will help the bank customers estimate their eligibility and receive a quote personalized to their requirement.

The customer will get an e-approval instantly after filling the online form following which the bank officials will contact the customer and complete the loan formalities.

The platform will also allow customers to upload all necessary documents online to reduce the processing time of their loan.

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The bank said in a statement: "India is witnessing one of the highest growth rates of internet users and to cater to this segment SBI has customised this platform for an enhanced customer experience."