Tata Neu’s Lending Marketplace Crosses 1 Lakh Instant Personal Loans Milestone, Disburses Over INR. 1,000 Crore
Bangalore, October 24, 2024: Tata Digital today announced a significant milestone of disbursing over 1 lakh personal loans through its lending partners on Tata Neu, amounting to more than INR. 1,000 crore. This achievement underscores the platform’s growing popularity and commitment to providing accessible financial solutions to customers across India.
To celebrate this achievement, Tata Neu has launched its festive ‘Loan Utsav,’ where successful loan applicants can receive 1,000 NeuCoins (1 NeuCoin = 1 rupee saving), and become eligible to win a Gold Coin daily. Tata Neu has now also expanded its loan offerings beyond personal loans. The platform now also provides gold loans, with loans against mutual funds and home loans to follow shortly.
Tata Neu’s loan offerings allow customers to meet their diverse financial needs with the convenience of a fully digital, paperless application process that can be completed in less than 10 minutes. Upon approval by the lenders, the loan amount is instantly transferred to the customer’s bank account, making it an ideal solution for urgent financial requirements.
“Tata Neu’s lending marketplace has reached a significant milestone, surpassing INR. 1,000 crore in total loans disbursed. This achievement is a testament to our customers’ confidence in our offerings and our unwavering commitment to providing accessible and seamless financial solutions,” said Gaurav Hazrati, Chief Business Officer, Financial Services, Tata Digital. “We remain dedicated to further expanding our financial services offerings and strengthening our partnerships with lenders to offer a comprehensive loan portfolio that aligns with our customers’ evolving needs.”
Commenting on the collaboration, Vivek Chopra, COO, Retail Finance, Tata Capital said, “With Tata Neu, we are proud to offer lending solutions that empower individuals to achieve their financial goals. By integrating our services with Tata Neu’s robust platform, we’re able to provide a more efficient and user-friendly experience. This partnership marks a significant step towards enhancing credit accessibility and convenience for millions of customers across India.”
Sushma Abburi, Chief Business Officer, MoneyView added, “We are excited about our partnership with Tata Digital, which enables us to deliver personalized loan products through its innovative platform. Together, we provide a seamless experience for customers, making it easier for them to access the financial solutions they need.”
The strength of Tata Digital’s lending marketplace on Tata Neu lies in its extensive network of trusted lending partners Tata Capital, Aditya Birla Finance Limited, MoneyView, Kreditbee, Prefr, Ring, Cashe, IndiaGold, Rupeek, and Muthoot FinCorp Ltd., along with being an early adopter of ONDC’s loan offerings. These partnerships provide customers with a wide range of loan options – both secured and unsecured, featuring competitive interest rates and minimal processing fees. Additionally, Tata Digital offers free credit score reports on Tata Neu to enhance the overall value proposition for its customers.
