Paisebazar.com, an online financial service provider, has entered into strategic partnership with a number of banks and financial services providers to expand its loans portfolio. The company has partnered with HDFC Bank, ICICI Bank, Kotak Prime, IndusInd Bank, AU Financiers and L& T Finance, specifically to offer car loans to private as well as commercial customers. It feels these partnerships will allow it to reach out to existing and potential customers across all segments and offer them car loan products based on their individual requirements. While the tie-up with banks would enable the company to offer loans to the masses, NBFCs provide the opportunity to reach out to those who seek loans within niche segments, such as used and commercial car loans. In addition to getting loans for new cars, customers can also apply for used-car loans through the website, thereby allowing Paisabazaar.com to branch out into untapped markets. Naveen Kukreja, MD of the company, said the decision to venture into the car loans segment is in sync with its plan to create a one-stop destination for all kinds of loans.
