EarlySalary Ties up HDB Financial Services Ltd to Fuel Growth in Digital Lending

EarlySalary received 1000 crore disbursement from HDB Financial Services through their collaboration

EarlySalary is India’s largest consumer lending platform for working professionals and offers Salary Advances, Instant Personal Loans, Cards and Buy Now Pay Later.

EarlySalary has tied up with HDB Financial Services Ltd (HDBFS), a leading Non-Banking Financial Company (NBFC) to fuel growth in Digital Lending. HDBFS–EarlySalary partnership aims to build momentum in the impact categories of Skill upgradation, Education Loans and Health-care finance. The association will also facilitate building a large consumer lending book with EarlySalary; which is reaching out to millions of under-served customers across the length and breadth of the country.

Speaking on this occasion, Mr. G Ramesh Managing Director & CEO of HDB Financial Services said,  “HDB has a strong technology architecture and the best in class underwriting process. The HDB-Early-Salary partnership will help us reach millions of customers across India by providing them with easy finance with digital on-boarding and customer support, thus providing them with a seamless borrowing experience.  This partnership also illustrates our ambition to speed-up the collaboration with FinTechs to create the services of tomorrow.”

Adding to this Akshay Mehrotra, Co-founder and CEO, EarlySalary said, “We have disbursed 2 Million loans since inception and will further disburse 1 Million loans this financial year. The Co-lending partnership with HDBFS will help us grow faster and help in an aim of disbursing nearly Rs. 5000 Cr in the next 18 months. Our affordability focus with Buy Now Pay Later on EdTech, Health and Consumer platforms aims to give access to products and services to masses with help of credit from EarlySalary. We are looking at disbursements worth 1000 Cr from the HDB-EarlySalary collaboration.”

EarlySalary is committed to providing a seamless customer experience by leveraging new-age technologies in the areas of data processing, AI/ML, and analytics for real-time analysis and decision making. EarlySalary aims to help millions of people lead a better life who want to achieve their financial freedom, meet any emergency needs and upgrade their lifestyles. EarlySalary has taken several steps to give users a better credit experience over the years.

Leave a Reply