Thursday, Jun 4 2020 | Time 14:15 Hrs(IST)
  • 7-member Central team visits cyclone Amphan hit areas in Odisha to assess damages
  • Bukhari welcomes revocation of PSA against Shah Faesal, demands release of Mehbooba, Sagar, Naeem
  • Assam COVID tally reaches 1877
  • EESL and GAIL sign a MoU for Trigeneration projects
  • Smriti hits out at Rahul Gandhi over elephant killing incident in Kerala
  • Central team to visit Bengal on Thursday to study Amphan damages
  • Chhattisgarh registers 52 new COVID-19 patients, active cases increase to 489
  • Covid-19: Quarantine rules set to change: Minister
  • Hong Kong marks historic Tiananmen anniversary
  • Covid 19 case reaches 121 in Manipur
  • Covid-19: Stranded Chhattisgarh labourers in Karnataka to fly back
  • Covid-19: Mah returnees to undergo 3 week quarantine
  • Covid 19 tally in Odisha rises to 2478 with fresh 90 positive cases
  • Canara HSBC Oriental Bank of Commerce appoints Deven Sangoi as Chief Investment Officer
  • Covid-19 : 3 patients die, 98 fresh postive cases reported in AP
Business EconomyPosted at: Jan 30 2019 5:13PM


BankBazaar partners with Ujjivan Bank for personal loans

Mumbai, Jan 29 (UNI) BankBazaar, India's leading online marketplace for financial products, announced partnership with Ujjivan Small Finance Bank for Personal Loans.
With this partnership, the company intends to drive greater financial inclusion, especially among those customers, who are economically active, but not adequately served by the formal banking sector, according to a statement here on Wednesday.
BankBazaar has been steadily increasing the depth of products it hosts on the site, so that the customers across geographies and demographics can access products, which are relevant to their specific requirements.
While the company has partnered with banks, NBFCs, and Fintechs earlier, this is the first time they tied up with a Small Finance Bank for credit products. The Personal Loan products from Ujjivan Small Finance Bank for salaried professionals went live on BankBazaar in the first week of January.
Over the years, BankBazaar has seen significant growth in the Personal Loan category. The company believes that the demand is still growing, and that the demand for unsecured credit in non-metros could very well outpace that of the metros in 2019.
Speaking about the partnership, Adhil Shetty, Co-founder and CEO, BankBazaar, said "Personal Loans fulfill your immediate cash needs, be it for a few thousand rupees or a few lakhs.
''As people increasingly turn to Personal Loans to fulfill their aspirations, there is an increasing need for the right product at the right juncture. Ujjivan Bank is strongly positioned to cater to the under-banked urban customer segment, and we believe that partnership will help us bring more products to these customers."

Traditionally, the metro cities have been considered as the place where people make their financial dreams a reality. However, the BankBazaar Aspiration Index revealed that the non-metros are as aspirational as the metros, and that the average millennial is comfortable taking a loan, to fulfill these aspirations.
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