- To target an increase in the Southern market’s personal loan portfolio to 35% from the current 25%
- To target an increase in the number of applicants up to 20% from the current 5%
Bengaluru,30, April 2014: Deal4loans.com, an online loan information and application portal, providing valuable information on all available loans in India is planning to expand its footprint in the South Indian market. Deal4loans.com currently disburses close to Rs. 15 crores per month for the Southern market. This constitutes approximately 25% of its personal loan portfolio. The company plans to increase the percentage up to 35% in the coming years. Also, the current total percentage of loan seekers in the region constitutes of only 5% of its total customer base. The percentage targeted is 20% by next year for the company.
Speaking about his company’s expansion plans, Mr. Rishi Mehra, co-founder said: “We would like to help our customers by empowering them through information and help them to make the right choice. We are here to help them reduce their EMIs by either converting to a better lender or by adopting a model of converting them to secured loans to reduce ROI or by reducing the tenure of loan. According to our data 45% of loan seekers are salaried and we have a special offer for them in Bengaluru.”Southern India has second most dominant share of 27.2% in the Indian loan market followed by Northern, Central and Eastern India in the year 2013. The home loan market in Bengaluru has remained steady despite an overall slowdown. According to Housing Finance Corporation and banks the overall home loan expense fluctuated from Rs. 1,200 crore to Rs. 1,600 crore monthly.
In the secured loan segment, deal4loans is the only portal to facilitate customers to compare the interest rates even of last six months of various banks. This service enables customers to make informed decisions before finalizing on a loan. The company’s operational model helps people to compare loan rates being offered at all major banks such as HDFC Ltd, ING, ICICI, HDFC Bank, DHFL, Kotak Bank and Fed Bank.
Deal4loans.com is an online loan information and application portal which provides the customer with valuable information on all available loans in India. It has pioneered the concept of online comparison for retail Loans in India. The company began operations in 2008-09 with the thought of providing the customer ample opportunity to get the best loan deal that would suit their requirement. The portal provides comparison based information on interest rates of different banks nationalized as well as private. Deal4loans is not a broker or Dsa of any bank nor are they into selling of loans through their team. The company acts as a comparison engine and passes on the request/query of the customer onto the bank. The customer in turn is not charged any fee for the process. This is an endeavor that brings customers and Banks at a same platform and to facilitate responsible credit.
