EarlySalary-HDBFS Collaboration Aims for Digital Lending

In the bid to fuel growth in digital lending, EarlySalary, a leading instant loan app, on Wednesday, announced a tie-up with HDB Financial Services Ltd (HDBFS), a leading Non-Banking Financial Company (NBFC). The alliance aims to boost the impact categories of Skill up-gradation, Education Loans, and Health-care finance. The HDBFS–EarlySalary partnership also aims to expand the consumer lending book with EarlySalary; which holds forth its services to millions of customers across the country, struggling to make ends meet. 

Mr. G Ramesh Managing Director and CEO of HDB Financial Services said, “HDB has a strong technology architecture and the best in the 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 the above statement, Mr. 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 crores in the next 18 months. Our affordability focuses with Buy Now Pay Later on EdTech, Health and Consumer platforms aim to give access to products and services to masses with help of credit from EarlySalary. We are looking at disbursements worth 1000 crores from the HDB-EarlySalary collaboration.”    

With its one-click solution for instant loans, EarlySalary is committed to providing a smooth customer experience by deploying cutting-edge technologies for data processing, AI/ML, and analytics facilitating real-time analysis and decision making. EarlySalary strives to help millions of people to attain financial freedom, meet any emergency needs and upgrade their lifestyles. Overall, they aim to help users in financial need to lead a better life and give them a better credit experience over the years.