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Apnaloan.com plans to offer online car loans
Our eFE Bureau
Apnaloan.com will provide its Web customers the choice of getting an auto loan online, very shortly. The niche portal focuses on providing loan solutions to retail customers. The site will also offer other loans such as home, personal, etc. The chief officer-products and customer relationship manager, Mahesh Balasubramanian said that the site offers tailor-made solutions to the individual customers. It considers the customer's profile and judges the risk profile and takes it into consideration while providing the interest rates. The differentiating factor of the site is the niche focus, the technological expertise and especially back-end and customer specific solutions provided, says Mahesh. Currently the site offers credit cards, and about 1,000 credit cards have been purchased through it.Apnaloan has tied up with other sites such as indya.com, go4i.com. It is also talking to Rediff.com for an alliance. Apnaloan has entered into an arrangement with 14 financiers including Kotak Mahindra, Sundaram Finance, etc. The revenue for the portal rests on a cut from the loans processed through the site, which varies depending on the the type of loan and can range from 0.50 to 2.50 per cent. The site has established an off-line presence in Mumbai and Chennai. It employs customer service representatives who will assist the client in paperwork and processing. It also offers status checking which helps the customer know the exact status of the loan application. Live help through the Net will be provided by a trained team of professionals, adds Mahesh. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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