Housing.com partners with FinBox to offer instant personal loans up to Rs 10 lakh

Revolutionary personal loan service with instant offers and disbursements within 24 hours

Housing.com, India's leading proptech platform, has collaborated with credit infrastructure provider FinBox to introduce a new service that allows customers to borrow up to Rs 10 lakh. This service aims to support customers with diverse financing needs, including rental security deposits, booking token amounts, renovation costs and furniture purchases.

To make digital lending easily accessible, India's top proptech platform has integrated the service into its app and web interfaces. Users can conveniently access the service through Housing Edge, a full-stack rental and allied services platform that offers end-to-end digital experiences.

Dhruv Agarwala, Group CEO of Housing.com, stated, "Gone are the days of tedious loan applications and mountains of paperwork. Housing.com and FinBox have streamlined the process, allowing applicants to complete the entire loan application in just about 3 minutes." Once approved, applicants receive instant loan offers, with funds typically disbursed within 24 hours.

"At Housing.com, we have always been at the forefront of tech innovation, with a strong emphasis on simplifying the consumer journey while offering full-stack housing solutions. Our goal is to provide a one-stop-shop for all housing-related services, and through this collaboration, we aim to offer customers a hassle-free and efficient way to access personal loans," added Agarwala.

Through FinBox's multi-lender integration, the platform can match renters and homebuyers with suitable lenders. Additionally, FinBox's data intelligence capabilities contribute to increased loan approval rates on the platform.

"We are thrilled to enable personal loans for one of India's leading real estate platforms. As a technology provider, we are committed to empowering non-financial platforms to offer seamless financial services that are convenient for end customers. We achieve this by creating seamless journeys through advanced technology and a vast network of third-party integrations," said Rajat Deshpande, CEO of FinBox.

Housing.com revealed that the pre-launch phase of the personal loan service received an overwhelming response, indicating the substantial demand for this innovative offering. Housing.com and FinBox are poised to revolutionize the personal loan industry by providing customers with a seamless and customer-centric borrowing experience.

The platform's dedication to continuous improvement and innovation has positioned it as a leading player in the proptech industry, attracting a significant amount of traffic.

"Housing.com has been at the forefront of the Indian proptech industry, setting new benchmarks through innovative features and services, which has helped us build a loyal customer base. Our commitment to offering new and improved services has made us the top player in the industry, attracting maximum traffic to our platform. Our collaboration with FinBox to provide personal loans is a step in the same direction. The personal loan industry in India is substantial, with a portfolio outstanding of Rs 664.6 K Cr. Through this collaboration, we aim to provide customers with a hassle-free and efficient way to access personal loans. We successfully piloted our lending journey with a small customer base and are now extending it to our entire Housing audience. This partnership with FinBox will undoubtedly have a positive impact on the Indian proptech industry," said Sangeet Aggarwal, Head of Product & Design at Housing.com.

Annexure:

Process & Eligibility:

The service will be launched under Housing Edge, which offers a comprehensive range of allied services, further reinforcing the platform's commitment to providing customers with a complete suite of services.

The loan application process has been simplified and can be completed in just about 3 minutes. Eligible applicants can view their loan offers immediately upon completing the application. Loan disbursement typically occurs within 24 hours of applying for the loan. This hassle-free process makes it easier for customers to access funds when they need them.

The loan is available to both salaried and self-employed individuals who meet the eligibility criteria, including credit score, credit history, age, and income.