Online automobile marketplace Droom as tied up with Axis BankBSE 0.43 %, India’s third largest private sector bank, to provide quick sanction of loans on both new as well as used cars. This is a step towards becoming a complete eco-system for buyers to have an impeccable automobile owning experience.
Loans will be provided for up to 85% of the value of the car with a tenure of 1-5 years. Furthermore, loans on Used Cars can be availed on vehicles up to the age of 10 years at the end of the loan tenure, said the company in a statement to the media.
“The recent collaboration is another step in our attempt to provide holistic facilities to our users and enhance the car-buying experience. Axis bank is globally recognized as one of the most reputed financing organizations with a successful track record of disbursing loans in a quick turn-around time. We hope that faster loan disbursal mechanism will provide customers with a buying experience that is hassle-free, secure and convenient,” said Rishab Malik, co-founder, Droom.
Source: Economic Times