Paisabazaar.com, India’s largest digital consumer credit marketplace*, announced today that it has closed its highest online home loan case of Rs 9.35 crore.
The home loan, sourced through the Paisabazaar platform, was disbursed by a leading private bank to a Hyderabad resident.
“Paisabazaar enabled me to compare multiple offers and choose the best. Despite the large amount, I had a great and hassle-free experience”, said Nitin Aggarwal**, an entrepreneur from Hyderabad, who took the high-ticket size home loan.
Paisabazaar said, over the years, it has witnessed a growing affinity, across consumer segments, towards using digital mediums to find the right home loan offer. The Paisabazaar platform receives ~10,000 enquiries in a month for Home Loans above Rs. 50 lakh and has closed high-ticket loans in the past as well.
“The high-ticket disbursals are a testimony to both the evolving consumer behaviour and the trust we have gained as the market leader. Buying a home is a crucial life goal for consumers and it’s gratifying to be an enabler towards this,” said Naveen Kukreja, CEO & Co-founder, Paisabazaar.com.
Paisbaazaar.com has 20+ active partnerships for home loans across the lending ecosystem, which includes India’s largest Banks, NBCFs and HFCs.
“Comparing and choosing the right home loan offer is crucial as it can make a big difference to the overall cost of the loan for consumers. At Paisabazaar, our aim has always been to offer consumers the widest choice through deep partnerships, convenient and transparent processes along with expert advice and assistance,” said Ratan Chaudhary, Business Head, Home Loans, Paisabazaar.com.
*Source: Frost & Sullivan Report
**Name changed on customers request
Paisabazaar was Indias largest consumer credit marketplace with a 51.4% market share, based on disbursals in Fiscal 2020, as per Frost & Sullivan
Paisabazaar has 54 partnerships with large banks, large NBFCs and fintech lenders to offer a wide choice of lending products for consumers on its platform
These strong partnerships, built through technology and data integration with Lending Partners to provide real-time data flow and status updates, allows the Paisabazaar platform to offer quick decision making, ease of processes and faster disbursals
From application to disbursal, Paisabazaar accompanies the Consumer at each step, providing last-mile assistance such as document collection and assistance until disbursal and advice
Paisabazaar, since 2017, has also been providing consumers access to credit reports from credit bureaus, offering Consumers lifetime checking and tracking of their credit scores for free
Paisabazaar has been recognized at several industry platforms with awards like ‘Digital Lending Award’ at the Fintech India Innovation Awards, ‘Excellence in Consumer Lending’ at IAMAI’s India Digital Awards, ‘Outstanding Crisis Finance Innovation 2021 (Asia Pacific) Award’ by Global Finance Magazine, ‘Most Innovative Lending Startup’ by ‘India Fintech Forum and Economic Times’ ‘Most Promising Brand’.