NEW DELHI: Yes Bank has tied-up with PaisaBazaar, Magicbricks and seven other digital platforms to further market and gain the clients in the affordable home loan segment, informed Rajan Pental, group president and group head (Branch & Retail Banking), Yes Bank.Pental however declined to mention the name of other seven portals/platforms.
“We think this is an innovative way of marketing our products to consumers who are looking for loans. No other bank is currently exploring this model,” said Pental.
According to him, they have seen a good conversion rate through this model and they plan to carry out more such tie-ups in future.
“Even 2% conversion rate is a ‘good conversion’ within this model as we have just started it,” said Pental.
Under the tie-up, Yes Bank uses the database of such digital platforms to market their products including home loan.
“We pre-qualify (and not pre-approve) such customers and are not necessarily selling just the home loan but can also offer all our products, if they require,” he added.
Yes Bank is betting big in the affordable home loan segment. Apart from the tie-up with digital platforms, it has also join hands with builders across India to pre-qualify the home loan of their customers.
“We majorly tie-up with builders where the bank already has an exposure in the project,” said Pental.