Technology is changing every industry rapidly and lending is no exception to it. Gone are the days when people used to hunt for traditional banking channels in order to fulfil all their credit requirements. In the present scenario, various fintech companies have emerged up to simplify the lending process and let customers enjoy easy credit facilities. One such innovative digital lending platform that we came across is IndiaLends.
A popular financial services start-up that has positively disrupted the fragmented consumer lending market in India by presenting innovation at its best.
IndiaLends: A Glimpse
IndiaLends, a credit scoring and analytics platform was founded by the duo Gaurav Chopra and Mayank Kachhwaha back in the year 2014. With an aim to widen the ambit of consumer finance and spread it to larger masses, this online marketplace provides quicker access to cheaper credit.
Through its user-friendly interface and strong partnership with multiple banks and NBFCs, IndiaLends is all set to scale up its business exponentially. A powerful vision and good execution capabilities along with extensive experience and team capability, Indialends is all set to bring a big revolution in the financial space.
“Loans for Everyone, under One Roof” is the foundation on which this enterprise, its founders and members fully believe. Bringing for you convenient and secure techniques for managing your finances, IndiaLends is a complete answer to all your credit queries.
IndiaLends: Products & Services
With a set of well-defined algorithm IndiaLends functions as an online credit underwriting platform. Working on a simple yet an effective business model, this has gained a lot of traction recently.
Its primary focus is to discover potential individual borrowers and connect them with different banks or regulated entities like Non-Banking Finance Companies (NBFC).
In simple words, it provides a reliable interface between the end-users and the lenders.
You can experience and explore a wide array of services and products, the primary ones being:
- Personal Loans
- Credit Cards
- Credit Report
So, connecting prospective borrowers to lenders thereby building a strong financial network, IndiaLends has made borrowing a much easier task for the common man.
Thinking to grab a personal loan, unsecured loan, instalment loan without a guarantor, IndiaLends is your safe and secure destination.
Not only loan products but you get to discover various other facilities like credit cards, credit reports plus gain adequate financial education in a simple manner.
How this platform works? Easy Steps to follow
You have to follow a simple and effortless process thereby getting access to personal loans expeditiously.
- Step 1:Application – As a borrower, you apply for credit and provide your basic information.
- Step 2: Validation – IndiaLends validates your details that shall include your education qualifications, residence and work place etc.
- Step 3: Loan Re-paying ability – It further validates the loan repaying capability of the individual. This is mainly based on your income, expenses and existing debts if any.
- Step 4: Establish “intent to re-pay”- This is the most crucial aspect to be determined. The intent of the prospective borrower is established, based on which you get a score card or credit score. This score card is provided after considering various important parameters like your education, work history, payment behaviour, present debts and social media profile etc.
- Step 5: Loan Approval & Disbursement – Your application is matched with the best financial institution as per your score. You are offered credit by the partner bank or NBFCs on the basis of your credit profile.
So, simply register, get your application reviewed and receive the requisite funds within few days.
Look just few simple steps and that’s it! Your loan can get approved instantly and also disbursed in a fast manner!
Similarly, you can apply for a credit card and know your eligibility and approval status instantly.
Basically, the information captured is analysed and you are recommended the best product based on your score card. Wait! Here, comes the most interesting part: These services offered by IndiaLends are completely free for its customers. That sounds so cool! Right!
IndiaLends: A Final Take
No doubt, that fintech industry shall continue to further revolutionise the lending process in significant ways in the coming years. IndiaLends is a perfect example to it. Making loans and other credit facilities much affordable and accessible through its cutting edge technology, IndiaLends surely seems to be a one stop solution to your financial needs.
Acting as a great liaison between lenders and borrowers through its digitally advanced infrastructure, its consumer base is rising at a speedy pace. Looking at the growing customers coupled with its increasing services and benefits, IndiaLends holds a substantial position in the lending sector.
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What are your views on this digital platform and the numerous services offered by it? Have you availed a personal loan or applied for a credit card through IndiaLends? How was your experience using this online borrowing platform specially designed to support your finances? Feel free to share your valuable feedback or any opinions thereon.