BankBazaar - comparison shopping for loans

 

BankBazaar is another another online loan comparison engine for the Indian market. Users can apply for personal and home loans and lenders compete to earn your business and provide you a loan. Within minutes of filling your application, you are presented with offers from various lenders, alongwith what each lender is offering, including a breakup of repayment info.

There are already several players in this market like ApnaLoan, Deals4loans etc.  However, unlike its competitors, BankBazaar doesnt redirect you to a sales agent and instead provides you the results instantaneously. The other players mainly act as simply a lead generator for various banks, where your loan request is forwarded to various banks, and then a bank rep contacts you for details. Instead, using BankBazaar, you are contacted by a bank rep only during the final stage, when you’ve made up your decision of which loan offer you’re gonna go with. 

The site seems to have focused well on the user experience and with the current ecnomic scenario, might see a surge of folks looking for loan offers.

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Comments

5 Responses to “BankBazaar - comparison shopping for loans”

1. Suresh on November 18th, 2008 12:46 am

   Wow. That’s great news!

2. Dharma on November 20th, 2008 4:59 pm

   Thats awesome news. Now I can get my home loan easily.

3. Tanmay on November 21st, 2008 12:00 am

   Who’s taking loan’s nowadays in these economic turmoil??? But the site is designed very well. Only glitch is that the information captured in step-I should be automatically preserved if i change from home loan to personal loan or in future to car loan instead of re-entering everything all over again….

   expect the site to really shine if banks decrease their interest rates atleast by 3-4 %, then there will be many takers and many comparers…

4. Rahul M on November 22nd, 2008 7:10 am

   its difficult times….. with loans so expensive…. bad timing for the website.

5. Kaaren on November 25th, 2008 8:55 pm

   There is another comparison shopping site and books search engine
   http://www.oxyshopping.com