Mumbai-based new-age financial services group InCred has announced the launch of its two-wheeler loan vertical. InCred will leverage its proprietary technology and state-of-the-art data analytics to shorten the turnaround time (TAT) in loan fulfilment enabling swifter, more hassle-free loan disbursals.
This latest development from InCred is aimed at providing easy and convenient two-wheeler loans to borrowers across its offices in 6 states, in line with its long-term vision to make credit more accessible and available to a much larger segment of Indian consumers. The move will also give a tangible boost to sales in the two-wheeler segment, which has been witnessing a significant upsurge in demand post BS-IV upgrades and GST implementation.
Commenting on the launch of its latest vertical, Bhupinder Singh, Founder & CEO – InCred, said, “With the automobile sector having registered a significant growth momentum post GST implementation, the demand for two-wheelers has increased drastically in the last couple of months. Our latest product is designed to fulfil this growing demand by enabling extremely seamless, swift, and hassle-free loans for two-wheeler purchases.”
“Our two-wheeler loans extend a superior user experience and convenience to more borrowers across the country. We are confident that our proprietary technological framework and cutting-edge data analytics will assist many aspiring consumers across India in fulfilling their vehicle ownership dreams,” he added.
InCred offers a wide portfolio of products across consumer loans, affordable housing loans, SME loans, and education loans to meet the varied requirements of Indian customers. The company uses technology and data-science to make lending quick and easy for its customers. It leverages a network of a high-performing sales team, channel partnerships, and digital media in a targeted manner to serve customers at various points of need, eliminating the need for them to physically visit a branch at any point during their loan journeys.