Image Credits : DNA

We all know that online shopping trend in India is getting viral and we Indians are not only buying TVs, Smartphone and Shoes online, but we all also doing some great things online such as; comparing and buying policies and home loans in online mode. After consumer shopped for worth Rs. 6 crore house on Snapdeal.com in the first half of the years, now Paisa Bazaar is grabbing the attention as this online destination for loans and credit cards has closed with record of Rs 5.68 crore home loan disbursal and till now its country’s largest online home loan disbursal.

However; the home loan disbursed by Housing Finance Development Corp for a 4 BHK flat in Mumbai, BKCRustomjee region. In our country its largest disbursal online till date as a Rs 5-crore disbursal for a mortgage loan made earlier. However; the total price of apartment was around Rs 9 crore. According to Naveen Kukreja, MD of Paisa Bazaar, “We are seeing a spike in high-ticket loan cases on our platform”.

About Paisa Bazaar:

The online portal, owned by Policy Bazaar has the backend support of investors such as; Temasek, Tiger Capital and Infoedge and they all has made disbursals of around Rs 250 crore in last one and half month, which is equal to Paytm’s Diwali sales from its e-tail business.

High-ticket cases currently constitute more than 15 percent on the overall home loan cases at the online portal of Paisa Bazaar. According to Kukreja, “Now we are realizing that high-net-worth individuals (HNIs) are becoming more valuable and comfortable while shopping online for loans. And in our conversations with them, they have communicated that we want to go deeper into the products and understand them first-hand. But at this point of time we are doing great with stage one, since they want  minimum intrusion while making their most important financial decisions, we expect more of them to turn online for all their personal finance needs”.

Apart from that the Rs 5 crore mortgage loan, which was closed on Paisa Bazaar at the first half in the years was also disbursed by HDFC to Murli Gnanavel, Chennai based individual against his commercial property in Coimbatore. According to Ajay Sachdewa, National head of Marketing at HDFC, “We are in the strategic tie-up with Paisa Bazaar and we are committed to help them while making online presence and leveraging the digital channel more effectively”.