Indiabulls Housing Finance Ltd. (IBHFL) has entered into a strategic partnership with Paisabazaar.com, India’s leading online financial marketplace, to offer online home loans to consumers. With the partnership in place, customers will now be able to avail home loan offerings by IBHFL, through the Paisabazaar.com platform. The loan process would be completely digital – from application to disbursal – via e-KYC verification and self-attestation of documents, and does not require customers to visit the lender’s office.
Both IBHFL and Paisabazaar.com are the first players within their industries to offer completely digital processes.
Speaking on the partnership, Mr. Sachin Chaudhary, Executive Director, Indiabulls Housing Finance Ltd. Said “This association with Paisabazaar marks one of the first such tie-ups in the industry. What gladdens me even more about this tie-up is the fact that the biggest beneficiaries will eventually be our dear customers. Indiabulls Housing Finance having launched India's first completely online mortgage, will synergize the online home loan experience with the scale of Paisabazaar to eventually reach and service customers in the most convenient way possible.
Home loan seekers can now get a wholesome experience which ranges from comparing home loan product offerings to actually completing the entire home loan process online.
As early adopters of digitally revolutionary practices, it is imperative for organizations like ours to continuously explore newer options to better customer delight. I look forward to a healthy association with paisa bazaar and in the course evolve more such solutions to provide superior customer experiences.”
Naveen Kukreja, CEO & Co-founder, Paisabazaar.com said, “Customers, today, are buying everything online – from pizza to phones to plane tickets. Even in financial services, the preference is fast shifting from branch services towards DIY digital platforms. Comparatively, the housing sector has been conservative and slow to adapt digitization. However, with IBHFL offering an end-to-end digitized home loan products, customers can now expect paperless and presence-less processes, something which we at Paisabazaar.com strongly believe in. We are immensely happy to tie up with IBHFL. Together, we aim to offer home buyers a never-before experience through a completely digitized home loan packages that will come with a speedy, convenient and transparent processes.”
Paisabazaar.com currently offers retail customers all types of lending and investment products including loans, credit cards, savings account, mutual funds and fixed deposits on its platform.
About Indiabulls Housing Finance Limited
Indiabulls Housing Finance Limited is India’s 2nd largest Housing Finance Company by profits and net worth in the private sector. At the end of the Dec 2016, IBHFL had a balance sheet size of Rs. 1,02,406 Cr. It provides quick, convenient and competitively priced home loans in the affordable housing segment. Indiabulls Home Loans can be availed for through multiple ways like state of the art branches across the country, seamless door step services and a completely online platform. IBHFL enjoys an AAA long-term credit rating.
Paisabazaar.com is India's largest online financial marketplace for investment and lending products. It currently offers all kinds of retail lending products such as personal loan, home loan, loan against property, auto loan, gold loan, education loan and credit cards. It also offers investment products, including mutual funds, savings account and fixed deposits on its platform.
Since its inception in early 2014, the company has marked a staggering growth and now has over 10 million visitors coming to its website each year. Paisabazaar.com currently partners with more than 75 partners across lending and investment categories with 200+ products on offer. On an annualized basis, it receives over 4 million enquiries and Rs. 3000 crore is disbursed through Paisabazaar’s marketplace platform. The company is targeting a 3X growth and aims to cross Rs. 5000 crore annualized disbursal run rate by the end of this financial year. It plans to touch annualized disbursal of Rs 25000 crore by 2020.
The portal was conferred with Economic Times "Best BFSI Brand Award" earlier this year. Apart from this, Paisabazaar.com has been recognized as an “Emerging Brand” at the prestigious CMO Asia Awards, as well as by Indian Brand Convention.
Paisabazaar is part of Policybazaar group, India's largest online insurance platform and is an InfoEdge (Naukri.com), Premji Invest, Tiger Global Management, Temasek, Steadview Capital, Ribbit Capital and Inventus Capital Investee Company.