The popularity of online banking and transactions has paved the way for accelerated growth of fintech companies. The fast-paced lifestyle of most individuals is a major proponent for such online service providers. Among the services offered by fintech organisations, alongside online credit disbursal facilities, digital home loan sanction letter issuance has also gained ground in recent years. Bajaj Finserv is one such HFC, which has incorporated such digitisation seamlessly into its financial products.
India’s lendingmarket is enjoying a 15-year low home loan interest rates, thanks to multiple repo rate cuts introduced in 2020. Some lenders are offering such housing credit at rates lower than 7% per annum.