How Fintech Apps like Paisabazaar are Changing India’s Financial Landscape

Fintech apps and other financial marketplaces have carved out a niche for themselves in the Indian financial ecosystem. Their assimilation in the financial landscape has enabled them to make finance more affordable and competitive for both banks/NBFCs and consumers. Banking and credit systems can be cumbersome and difficult to understand, especially for most consumers. Thus, awareness regarding finances is being promoted by fintechs to help the common man utilise and handle banking services better.

Paisabazaar, one of India’s biggest financial marketplaces, has been running a credit awareness programme that has helped more than 53 million customers know and understand their credit score better. The free credit score platform has not only helped them check their credit score for free but has also enabled them to improve their scores by monitoring their scores regularly.

How is the Paisabazaar App Transforming the Fintech Space in India?

The Paisabazaarloan app is transforming the way Indians access credit through seamless digital experiences.

Ease of comparison – It allows consumers to compare various loan or credit card options on a single platform and choose an offer that suits their requirements the best, which otherwise would be cumbersome and time-consuming.

Wide Partnership with Banks and NBFCs – Paisabazaar has partnered with 60+ banks, NBFCs and Fintech platforms to cater to loans and credit cards for all types of customers.

Multiple Financial Products – Consumers get all financial products, such as loans, credit cards, mutual funds, bill payments, bonds, fixed deposits, etc., in one place. This helps them borrow, invest, repay and conduct financial transactions all in one place.

Chances of Approval – This feature helps an applicant understand where the chances of approval of the loan/credit card application are the highest. This is done on the basis of the lender’s eligibility criteria and the applicant’s credit profile, helping borrowers face minimal rejections.

Pre-approved Offers – Applicants with a high credit score become eligible for pre-approved offers at Paisabazaar, which can be handy in case of a financial emergency. These are offered basis a customer’s existing credit history and repayment capacity with instant approval and minimum documentation.

Fully Digital Process – Most of the loan and credit card applications on Paisabazaar are fully digital in nature, and customers get end-to-end assistance during the loan application process. Documents aren’t required to be submitted physically, and the applicant does not have to visit the bank for any paperwork.

Trusted and Transparent – Paisabazaar is a trusted platform that provides 100% transparency to all consumers. This makes availing financial services accessible and convenient for all, which indeed is redefining the financial landscape for India.

What makes Paisabazaar Stand Ahead of Other Fintechs?

Paisabazaar is the only fintech app that has partnerships with all four credit bureaus, namely CIBIL, Experian, Equifax and CRIF High Mark. Under its credit awareness initiative, Paisabazaar provides lifetime-free credit scores from multiple bureaus for all customers.

Basis credit score, various lenders offer pre-approved loans and credit cards to eligible customers. Fully digital process helps get loans approved quickly and the amount disbursed in as little as a few minutes.

Apart from lending options, Paisabazaar allows users to make investments online for fixed deposits, bonds and NPS.

In addition to these, you can manage your money using the PB Money feature and carry out bill payments for various credit cards and utilities on the same app without needing to switch multiple apps to avail all services.

Are Fintech Apps Safe for Financial Transactions?

With many fintech apps helping consumers make meaningful financial decisions, numerous fake fintech apps have emerged that rarely follow the directives set by the RBI for lending and investment. The onus, thus, shifts on the consumers to stay alert and differentiate between credible fintech apps and dubious ones.

●     Always download any financial app from the official channels, such as the Google Play Store or Apple App Store.

●     Read the fine print and terms before availing services from any fintech app

●     Ensure you do not provide complete permission to an app on your smartphone. Provide only the mandatory required permission.

●     No app may charge a fee for providing loans or credit cards. Do check with the bank in case an app does so.

●     Identifying spurious apps with genuine ones is very easy, and you should go for only genuine apps for your finances.

Paisabazaar app is a safe and secure app and is trusted by 53+ million customers for their credit and investment requirements. An applicant can compare loan offers from various banks and NBFCs, apply for the most suitable loan offer. Similarly, one can apply for the most suitable credit card through the Paisabazaar loan app as well. Apart from credit options, one can also use the app for investment, such as fixed deposits, NPS and bonds for maximum returns. If You Enjoyed This Post Please Take 5 Seconds To Share It.