Today, Droom worked with the third largest private sector bank in India, Axis Bank, to provide quick loans on new and used cars.
Quick loans will finance up to 85% of the car’s value. The duration of the loans varies from 1 to 5 years. Customers can avail used car loans on vehicles up to the age of ten at the end of the loan term.
Commenting on the merger, Co-Founder and Vice President, Business Development, Droom Technology, Rishab Malik said the new collaboration is another step in the company’s attempt to deliver an enhanced car buying experience.
He added that Axis Bank is one of the reputed financial organizations with successful experience in disbursing fast loans. And the faster loan disbursement will result in a hassle-free, safe and convenient shopping experience.
Jagdeep Mallareddy, Head Retail Lending, Axis Bank said that the Bank strives to provide digital solutions to its clients. The partnership with Droom is a new step in Axis Bank’s digital offer.