Bajaj Finserv launches an instant loan approval app

Bajaj Finserv, India's leading consumer durable finance company has launched a new EMI finance app which provides an Instant Approval for loan up to Rs 3 lakh. Available for consumers to download, the app offers documentation free loan approval on the basis of keying in the PAN card or Aadhar card number. It can also access basic information once the app is linked with Gmail, Facebook or Twitter.

According to Bajaj Finserv, this app approves the loan in 60 seconds for the offline as well as online stores. While Bajaj Finserv has tied up with over 12,000 partners including Croma, Vijay Sales, HomeTown, etc., the online partners are limited at the moment.

"At the backend, the app is connected with cibil score and robust analytics solution and has got security layers to ensure confidentiality and personal data information. Using the Aadhar card number or Pan card number provided, all the customer details are procured with ease for decision making", says Devang Mody, president  - consumer finance, Bajaj Finance Ltd.

Launched 10 days back, the company has already received over 32,000 applications and it is expecting over 18 lakh applications during this festive season.