Proptech firm Housing.com on Thursday said it has tied up with credit infrastructure provider FinBox to offer personal loans of up to Rs 10 lakh instantly.
Housing.com has tied up with FinBox as it aims to support customers with diverse financing needs, including rental security deposits, booking token amounts, renovation costs, and furniture purchases.
To make digital lending easily accessible, Housing.com has integrated the service into its app and web interfaces. Users can conveniently access the service through Housing EDGE, a full-stack rental and allied services platform that offers end-to-end digital experiences.
Dhruv Agarwala, Group CEO of Housing.com, stated, "Gone are the days of tedious loan applications and mountains of paperwork. Housing.com and FinBox have streamlined the process, allowing applicants to complete the entire loan application in just about 3 minutes." Once approved, applicants receive instant loan offers, with funds typically disbursed within 24 hours, he added.
"Our goal is to provide a one-stop-shop for all housing-related services, and through this collaboration, we aim to offer customers a hassle-free and efficient way to access personal loans," Agarwala added.
Through FinBox's multi-lender integration, the platform can match renters and homebuyers with suitable lenders. Additionally, FinBox's data intelligence capabilities contribute to increased loan approval rates on the platform.
"As a technology provider, we are committed to empowering non-financial platforms to offer seamless financial services that are convenient for end customers. We achieve this by creating seamless journeys through advanced technology and a vast network of third-party integrations," Rajat Deshpande, CEO of FinBox, said.
The personal loan industry in India is substantial, with a portfolio outstanding of Rs 6.64 lakh crore, Sangeet Aggarwal, Head of Product & Design at Housing.com, said.
Housing.com, owned by Australian firm REA, is a prop-tech platform for homeowners, home seekers, landlords, developers, and real estate brokers. It has an extensive range of listings, including new homes, resale homes, rentals, plots, commercial spaces, and co-living spaces throughout India.
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