Park+ partners with HDFC Bank to unlock a simplified car loan experience

2024-11-23 10:15:28 Business

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15 May, 2024: Park+ India's leading auto-tech super app and HDFC Bank, India's leading private sector bank, joined forces to offer a simplified car loan experience to Park+ users. The partnership unlocks attractive car loan offers and immediate digital disbursal to Park+ users, within 30 minutes (to eligible borrowers). With this partnership over 1.5 cr Park+ users will have an opportunity to buy the cars of their dreams.

The thrill of bringing your brand-new car home is special. Millions of Indians today are upwardly mobile, and on the move. Many are looking at having their own car to reach their destination on time and with comfort. Simplified car loans are a game changer for millions of people to fulfil their dreams of owning a car, with minimal hassle.

HDFC & Park+ Advantage:

Digital Loan processing and disbursement in less than 30 minutes
Attractive ROI & Processing
Market space for new & used cars

Commenting on the partnership, Amit Lakhotia, Founder & CEO, Park+, said, "At Park+ our main objective is to bring delight back to car ownership. As part of this endeavour, we have partnered with HDFC Bank to unlock a simplified car loan experience for our users. We today host the largest community of car owners (1.5 cr car owners) on our app and wanted to enhance their potential/existing car ownership experience by making car loans simpler, easier, and affordable. Our robust relationship with HDFC Bank will allow us to unlock attractive car loan offers and immediate digital disbursal, all at one place on the Park+ App. We will continue to invest our energies in enhancing the car ownership experience for car owners, throughout the life cycle of their car and look forward to partnering with other external stakeholders to support us in this endeavour. ``

Mr Akhilesh Kumar Roy, Business Head - Auto Loans at HDFC Bank, said, " The Bank is committed to connecting with customers at a touch point of their choice. In this case Park + customers can access HDFC Bank's Xpress Car Loans. Through this money is credited to the account of the dealer in about 30 minutes. Since its launch about two years back, this mode of availing car finance has emerged as the fastest growing one in the Bank."

About Park+

Founded in 2019 by Amit Lakhotia, Park+ is a super app for car owners that solves the daily challenges faced by car owners - ranging from parking, FASTag management, car insurance, automated vehicle access control systems and EV charging stations. Backed by Sequoia Capital and Matrix Partners, Park+ today hosts India's largest community of car owners on its platform. Park+ is present in 2,500+ residential societies, 250+ offices and 35+ malls across 20+ Indian cities, including Delhi NCR, Bangalore and Mumbai.