HDFC Bank and Paisabazaar.com have crossed Rs 1000 crore loan milestone making Paisabazaar.com one of the leading distributors for HDFC Bank.
Paisabazaar.com entered into a partnership with HDFC Bank in April 2015. Paisabazaar.com and HDFC Bank have recently launched instant and paperless approval process through which customers would get instant approval on loans applied from HDFC Bank through the Paisabazaar.com platform.
Naveen Kukreja, CEO & Co-founder, Paisabazaar.com, said, “From the sixth player to enter the market, to becoming the market leader in less than three years, Paisabazaar.com has been growing at 130% p.a. consistently. One of the biggest reasons behind our success has been the valuable support of HDFC Bank. Through technology and innovation, we are aiming to make this partnership stronger in the future. We are targeting to reach the Rs 1500 crore milestone with HDFC Bank by March next year.”
Arvind Kapil, Group Head, Unsecured Loans, Home and Mortgage Loans, HDFC Bank, said, “At HDFC Bank, our endeavour is to give our customers an experience by leveraging digital platforms. One of the areas is to make our lending process simpler and faster. Paisabazaar.com has been working with us to enable an efficient system to source and lend to customers using technology and innovation. The success of the partnership is evident from the milestone we have touched.”
HDFC Bank and Paisabazaar.com have also collaborated on multiple products across the spectrum including credit cards and lending products like Home Loans, Business Loan, Auto Loans and Gold Loans.