Paisabazaar Drives Financial Inclusion with 'Loan Against Car' Launch

Paisabazaar, India's largest consumer credit marketplace, has launched a 'Loan Against Car' product to expand its secured lending offerings and provide access to new consumer segments. This move aligns with Paisabazaar's strategy to partner with financial institutions like HDFC Bank for tailored loan solutions.

Paisabazaar, a leading player in India's consumer credit sector, has unveiled its latest financial product, 'Loan Against Car'. This addition aims to enhance access to credit for a broader audience by providing tailored loan solutions in collaboration with top financial institutions like HDFC Bank and Tata Capital.

This strategic initiative is part of Paisabazaar's broader plan to deepen its secured lending portfolio, which currently includes categories such as Home Loans and Loan Against Property. By introducing 'Loan Against Car', the company aims to cater to diverse consumer needs while expanding its reach in secured lending markets.

Key features of this offering include loans up to 200% of the car's value and flexible tenures of up to five years, all facilitated through streamlined digital processes. According to Santosh Agarwal, CEO of Paisabazaar, this move aims to address consumer pain points and foster a more inclusive financial ecosystem.

(With inputs from agencies.)