Fintech startup BASIC Home Loan has partnered with ANAROCK group’s society and community management prop-tech platform, ApnaComplex to provide doorstep home loan solutions to potential customers. Under their agreement, BASIC Home Loan will offer complementary services to provide home loan deals from 35 plus banks and NBFCs to ApnaComplex users. The company claims that using its proprietary matchmaking tool, it will be able to deliver a market best 70 per cent login to sanction ratio to customers.
Users will also be able to generate queries directly from the ApnaCompplex app that will now be integrated with BASIC Home Loan’s tech systems. To ensure a smooth and easy experience for the residents, all tracking starting from lead, application, sanction and disbursement will be available on BASIC’s website and app
Speaking on the development, Devashish Dalmiya, BASIC Home Loans’ director of business development said that the partnership will bring ease and transparency for the potential home loan borrowers. Hoping for a long a fruitful tie-up with ApnaComplex, Dalmiya added, “This (the deal) brings us one more step closer to becoming a one-stop for all housing finance offerings namely home loans, balance transfer, loan against property (LAP), and construction loans for a much wider clientele in India”.
Shajal Jacob, MD and the country Head of ApnaComplex, said that the partnership aims to ease the process of home loan borrowing in the post-pandemic world where many residents are still averse from steeping out to go through the whole cumbersome process of applying for a home loan. “To address the issue, we are happy to partner with BASIC to bring smart home loans to our residents in the most convenient manner. Lakhs of households powered by ApnaComplex will now enjoy and get access to tech-enabled home loan advisory services along with end-to-end digital fulfilment."
In just 20 months since its launch in August 2020, Basic Home Loan has reached an annualized rate of disbursal of Rs 2000cr. The company aims to reach its target of Rs 10,000 crores annualised disbursal by the end of the calendar year 2022. In its series, A round of funding in October last year, the fintech startup had raised $3.5 million from investors like Venture Catalysts (VCats) and Gruhas Proptech, LetsVenture syndicate led by Anupam Mittal, and others
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