EazyDrive offers two-wheeler loans

Hyderabad EazyDrive Financial Services, a Limited Liability Partnership (LLP) firm, launched disbursement of two-wheeler loans.

EazyDrive, associated with the reputed NBFC Deccan Finance Ltd as a co-lending partner, is a one-stop-shop for two- wheeler loan disbursement across Telangana. It will offer a paperless agreement process without insisting on income proof. This helps to expedite and ensure immediate disbursement of the loan. The company is laying special emphasis on making the rate of interest affordable to middle and lower middle-class customers. There are customer friendly repayment options through digital modes.

Shri Pallam Raju, Regional Manager, SBI, said: "We are happy about the launch of EazyDrive, we want to fund and partner with them. The easy documentation process they are introducing is innovative, in Banks we have a product called Pre-approved personal loans. Preowned vehicles are not financed by the Banks, that's where they can gain lions share."

Teja Pavan Kumar, Managing Partner of the company said: "It has taken franchise of Deccan Finance Ltd, and will be financing two wheeler purchases all over Telangana. We will be financing the used vehicles also. We will extend loans to even sections like farmers, housewives, job holders, to those running businesses but don't have income proof to submit, those with or without collaterals and to the common man."

As part of the first phase, it began its operations on February 12 in Hyderabad, Secunderabad, Karimnagar and Kama Reddy. It plans to spread its network pan Telangana, in the next six months.