The two companies collaborate on a new service that will help customers get loans up to Rs 1 million
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, Housing.com 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.
Commenting on the same, Dhruv Agarwala, Group CEO of Housing.com, said, “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 three minutes.” Once approved, applicants receive instant loan offers, with funds typically disbursed within 24 hours.
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 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.
