India's online marketplace to sell and buy the used vehicle, Droom has extended its reach as a complete ecosystem for buying automobiles.
Now, Droom has collaborated with the India's third largest private sector bank, Axis Bank, to provide quick loans on new and used cars.
The quick loans will provide finance up to 85 percent of the value of the car. The tenure for the loans ranges from 1 to 5 years. Customers can avail loans for used cars on vehicles up to the age of ten years at the end of the loan tenure.
Commenting on the tie-up, Co-Founder and VP, Business Development, Droom Technology, Rishab Malik stated that the new collaboration is another step in the company's attempt to provide enhanced car buying experience.
He added that Axis Bank is one of the reputed financial organisation with a successful track record of disbursing quick loans. And the faster loan disbursal will result in hassle free, secure and convenient buying experience.
Jagdeep Mallareddy, Head Retail Lending, Axis Bank said that the Bank is striving hard to provide digital solutions to its customers. The partnership with Droom is yet another step in Axis Bank's digital offering.