Paisabazaar Unveils 'Loan Against Car' to Empower Credit Access
Paisabazaar, a leading Indian credit marketplace, has launched 'Loan Against Car', partnering with banks like HDFC to provide flexible loan solutions. This initiative aims to deepen its secured lending reach and offer broader credit access, especially for underserved segments.
- Country:
- India
Gurgaon, India – In a significant move to broaden options for consumer credit, Paisabazaar has introduced its latest product, 'Loan Against Car'. This new offering, geared towards expanding access to credit, was launched in collaboration with financial giants such as HDFC Bank and Tata Capital. The venture aligns with the firm's long-term aim of strengthening its secured lending products.
'Loan Against Car' allows customers to obtain loans of up to 200% of their car's value, with a tenure extending to five years. The process is facilitated through seamless digital operations aimed at enhancing customer experience. CEO Santosh Agarwal reiterated the company's commitment to offering diverse lending solutions and working closely with industry partners to foster a more inclusive financial ecosystem.
Already India's biggest consumer credit marketplace, Paisabazaar serves over 50 million users. With its robust partner network of over 65 banks and financial institutions, the company continues to pioneer new financial solutions that cater to various consumer needs across more than 1000 cities in the country.
(With inputs from agencies.)
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