India’s largest online marketplace for lending products– Paisabazaar.com announced that it has closed what it believes to be India’s biggest online home loan case of Rs. 6.12 crore. The loan, sourced through Paisabazaar.com, has been disbursed by Standard Chartered Bank to an HNI resident of Bangalore.
“Though the loan amount was big, I found the entire process smooth and hassle-free. Both Paisabazaar.com and Standard Chartered moved swiftly and assisted me at each step,” said the home loan customer, who is the CEO of a technology firm in Bangalore.
Paisabazaar.com, which had earlier closed a home loan case of Rs. 5.68 crore in 2015, says there has been a spike in HNI consumers using its platform over the last 3 years. Home loan cases above Rs. 50 lakh today forms around 22% of the overall home loan cases at Paisabazaar.com.
Naveen Kukreja, CEO & Co-founder, Paisabazaar.com, said, “Being India’s largest independent online platform for lending products, we are witnessing different customer segments coming to us for their borrowing needs. A significant part of this are HNI s, who are starting to prefer digital channels for all their personal finance needs because of the convenience, transparency and the superior experience they offer.”
DeepPal Singh, Head, Client Acquisition – India, Standard Chartered, said, “One of our goals this year is to increase our reach to retail customers looking for loans, using digital. Our partnership with Paisabazaar.com will be extremely valuable here. This large ticket size loan is a step in this direction.”