GURGAON, India, January 15, 2017 /PRNewswire/ --
Paisabazaar.com, India's biggest marketplace for loans and cards, launched a campaign around its 'Free Credit Report' feature today. Paisabazaar.com is the only financial entity in India to offer customers a credit report along with monthly updates at absolutely zero cost. The free credit score feature on Paisabazaar.com, built in partnership with Experian Credit Information Company, is easy, instant and it's completely online.
An individual's credit report reflects his creditworthiness and affects everything, from chances of getting a loan approved to lending rates to credit card limit. However, despite being a crucial indicator of one's financial health, awareness around it is extremely low in India. According to a recent report, less than 15% Indians, residing in metros, are aware of their credit score.
Naveen Kukreja, CEO and co-founder, Paisabazaar.com, said, "Ignorance around credit score and the relevance it holds in the lending process often leads people to approaching wrong banks and financial institutions for loans. Not only are the loan applications rejected, but their credit score worsens further. An individual's credit score not only determines whether his loan application will be approved or not, but also decides the pricing of the loan. We, at Paisabazaar.com, want to drive home the point that every individual should be aware of his credit score and constantly strive to improve it. Even if one doesn't require a loan right now, doesn't mean he will never have a lending need. Medical emergencies or future needs like buying a house, child's education and marriage force people to look for loans. A poor credit score in times like these can lead to a crisis."
The free credit score feature is a part of Paisabazaar.com's consumer awareness programme that has been built in line with its brand promise to make lending easier for India.
"Being the biggest disburser of unsecured loans and credit cards in India, it is extremely important to us that customers, who choose our platform, are able to meet their lending needs. The free credit score feature has empowered our customers to lend better and take steps to build their score over time for future needs," Naveen Kukreja added.
Sai Narayan, Group VP & Head of Marketing, Paisabazaar.com, said, "One of the biggest ailments in the Indian financial market is the lack of awareness around credit score. The key messaging around our campaign was born from this problem statement - Your chances of getting any type of loan depends on your credit score. On Paisabazaar.com, finding out your credit score is easy, instantaneous and free."
The high-impact campaign will include a TVC with actor-anchor and Paisabazaar.com brand advocate Kapil Sharma that would be aired on Star Sports, Set Max, UTV Movies, Zee Cinema, NDTV 24X7, NDTV Profit, CNN News 18, NewsX, NDTV India, Aaj Tak, India TV, NDTV Profit, Discovery, History Channel, DD National etc.
Watch our TVC here: https://youtu.be/Zxf4Ys0JKPk
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.