MyLoanCare achieves INR 1000 crore disbursement

MyLoanCare logo

MyLoanCare observes robust traction in its new product categories; credit cards and business loans

In just 6 years of inception MyLoanCare, India’s most convenient and trustworthy technology-driven digital marketplace for availing loans and credit cards across 1100+ servicing locations has emerged as one of the fastest growing online loans marketplace in the country. The platform has recently crossed the milestone of Rs 1000 crore of loan disbursement on an annualised basis across India.

In light of this achievement, Gaurav Gupta, Founder and CEO of MyLoanCare said, “It’s a giant leap made by MyLoanCare in successfully disbursing loans, both secured and unsecured. This reaffirms the trust our customers have on us and also our faith in the potential of online and digital processing to effectively address various customer points in his entire loan journey. We have also observed fairly strong traction in our new product categories which include credit cards and business loans. Having achieved this feat, we plan to move ahead on our mission to change the way people borrow money in India and make the loan process increasingly transparent, convenient and quicker. In the long run, our objective is to become the preferred channel for customers looking for any financial product in the country.

Equipped with cutting-edge and customizable technological tools, MyLoanCare ensures a smooth process of getting access to finance by letting customers compare, shortlist and finalize the right loans with no hidden charges, it also helps them plan their budget for future. The platform has a free loan portfolio management system feature to provide its customers access to both the Credit and EPF reports within a matter of minutes, in order to double check their financial well-being before applying for loans.

Standing sturdy with over two million registered users and an impressive customer rating average of 4.3/5, MyLoanCare aims to enable easy access to customized loans with reduced interests and EMIs all over the country within the next five years, thereby eliminating the hassles that traditional banking brings with itself.

About MyLoanCare is an online marketplace for providing financial services and products at best rates across demographics in India. Powered by state-of-the-art custom-made technology, the digital platform connects borrowers with suitable lenders to ensure that they get the right loan product, matching with their needs and credit profiles. Borrowers range from entry-level workers and small businesses to high-net-worth individuals and SME businesses. The users can choose from wide-ranging financial products such as home loans, personal loans, gold loans, property loans, business loans, and credit cards as well as a loan against property. It also allows one to compare gold loan products of leading banks and NBFCs, making it a pioneer of the popular concept of digital sourcing of gold loans in India.

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