Paisabazaar Expands Product Suite with Loan Against Car; Ties Up with HDFC Bank, Tata Capital, and Others
NewsVoir
Gurgaon (Haryana) [India], June 16: Paisabazaar, India's leading marketplace for consumer credit and free credit score platform, today announced the launch of its new offering - 'Loan against Car'. The new product further expands Paisabazaar's product suite and would help expand access to credit to new consumer segments.
Paisabazaar has partnered with multiple partners, including HDFC Bank and Tata Capital, to provide tailored Loan Against Car offers. The launch is in line with Paisabazaar's long-term strategy to go deeper in secured lending, by scaling its key categories Home Loans and Loan Against Property, while building new categories like Loan Against Car.
Key features and benefits offered on Loan Against Car on Paisabazaar:
* Loan amount of up to 200% of the car's value
* Tenure up to 5 years
* Easy digital processes
Santosh Agarwal, CEO, Paisabazaar, said, "As a marketplace, we remain focused on providing varied consumer segments with diverse product offerings and a wide choice of lenders. Launching new categories like Loan Against Car is a natural step towards scaling and expanding our secured portfolio - a key growth pillar for us over the next few years. As we grow, we would continue to work with our partners and the industry to help address genuine consumer pain-points and build a more inclusive ecosystem."
Loan Against Car would offer another avenue of credit to consumers on the Paisabazaar platform, especially those with limited options from more traditional options.
Paisabazaar, a part of PB Fintech (listed since 2021), is India's largest marketplace for consumer credit and free credit score. Over the last 11 years, Paisabazaar has earned the trust of over 50 million consumers and it handles 20 lakh+ monthly enquiries from 1000+ cities. Paisabazaar has built 65+ partnerships withBanks, NBFCs, and fintechs to offer a broad range of credit products. Paisabazaar is ISO (27001:2013) and PCI DSS certified organisation, with industry-best controls, to safeguard the best interest of consumers.
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