34,90,000 borrowers choose BBPS to pay their instalments

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34,90,000 borrowers choose BBPS to  pay their installments 



           During August 2021, 34.90 lacs spread across India, preferred to pay their loan instalments via BBPS.

            The exact payment channel or the preferred Loan Provider is not in public domain.

            Loan Payment via BBPS is a good option as the borrowers are paying the amount to a Loan Identification Number rather than paying to a pool account.

            Another benefit of Loan Payment via BBPS is that BBPS Online Payments can be made 24 * 7, 7 days a week, 365 days a week

            Offline too, there is a large number of Agents where the borrowers or borrower’s representative can walk in and complete the payment process.

            The BBPS payment channel is most beneficial when   Loan Recovery Agents persuade the borrower to repay the overdue amounts.

Old Fashioned Way:

The borrower hands over hard physical cash/cheque to the loan recovery agent.

The loan recovery agent issues a provisional receipt

The repayment reflects in the borrower's account after a considerable gap.

The borrower is in dark about the repayment credit, till he/she gets the loan account statement.

Multiple paperwork, touchpoints for the repayment credit to reflect in the borrower’s account!!!

 

Very cumbersome, na

New Fashioned Way:

Online - The borrower logs into any BBPS enabled App, chooses his borrower institution, keys his/her loan account number.

 

The basic details reflect in the borrower’s app and the borrower can complete the loan re-payment.

The credit reflects in the borrower’s loan account very soon.

Offline – The borrower or borrower’s representative walks into a BBPS Outlet, informs the operator his/her loan details and remits the amount to his / her account

On successful repayment, he/she collects the payment receipt and relaxes.

The following Loan Providers are on the BBPS Channel. Yes, it is a long last, and I am sure your loan institution is on the below list.

Please note that this is a dynamic list

·         Aadhar Housing Finance Limited

·         AAVAS FINANCIERS LIMITED

·         Adani Capital Pvt Ltd

·         Adani Housing Finance

·         Aditya Birla Finance Limited

·         Aditya Birla Housing Finance Limited

·         Agora Microfinance India Ltd - AMIL

·         Altum Credo Home Finance

·         Annapurna Finance Private Limited-MFI

·         Annapurna Finance Private Limited-MSME

·         Aptus Finance India Private Limited

·         Aptus Value Housing Finance India Limited

·         Arohan Financial Services Ltd

·         Ascend Capital

·         Asirvad Micro Finance Ltd

·         AU Bank Loan Repayment

·         Avail

·         Avanse Financial Services Ltd

·         Axis Bank Limited - Retail Loan

·         Axis Bank Limited-Microfinance

·         Axis Finance Limited

·         Ayaan Finserve India Private LTD

·         Aye Finance Pvt. Ltd.

·         Baid Leasing and Finance

·         Bajaj Auto Finance

·         Bajaj Auto Finance

·         Bajaj Finance Ltd.

·         Bajaj Housing Finance Limited

·         Belstar Microfinance Limited

·         BERAR Finance Limited

·         Bharat Financial Inclusion Ltd

·         Capri Global Capital Limited

·         Capri Global Housing Finance

·         Cars24 Financial Services Private Limited

·         Centrum Microcredit Limited

·         Chaitanya India Fin Credit

·         Clix

·         CreditAccess Grameen - Microfinance

·         CreditAccess Grameen - Retail Finance

·         Creditwise Capital

·         Criss Financial Holdings Ltd

·         DCB Bank Loan Repayment

·         Dhani Loan & Services Ltd

·         Digamber Capfin Limited

·         Diwakar Finance

·         DMI Finance Private Limited

·         Dvara Kshetriya Gramin Financials Private Limited

·         Easy Home Finance Limited

·         Eduvanz Financing Pvt. Ltd.

·         Equitas SFB - Microfinance Loan

·         Equitas Small Finance Bank - Retail Loan

·         ESAF Small Finance Bank (Micro Loans)

·         Ess Kay Fincorp Limited (Sk Finance)

·         Faircent

·         Fincare Small Finance Bank

·         Finova Capital Private Ltd

·         Flexi Loans

·         FlexSalary

·         Fullerton India credit company limited

·         Fullerton India Housing Finance Limited

·         G U Financial Services Pvt Ltd

·         HDB Financial Services Limited

·         Hero FinCorp Limited

·         Hero FinCorp Limited

·         Hindon Mercantile Limited - Mufin

·         Hiranandani Financial Services Pvt Ltd

·         Home Credit India Finance Pvt. Ltd

·         Home First Finance Company India Limited

·         i2iFunding

·         ICICI Bank-Retail Loans

·         IDF Financial Services Private Limited

·         IDFC First Bank ltd

·         IIFL Finance Limited

·         IIFL Home Finance

·         InCred

·         India Home Loan Limited

·         India Shelter Finance Corporation Limited

·         Indiabulls Commercial Credit Ltd

·         Indiabulls Housing Finance Limited

·         Indostar Capital Finance Limited - CV

·         Indostar Capital Finance Limited - SME

·         Indostar Home Finance Private Limited

·         Indusind Bank- Retail Loans

·         Jain Autofin

·         Jain Motor Finmart

·         Jana Small Finance Bank

·         Janakalyan Financial Services Private Limited

·         John Deere Financial India Private Limited

·         Kanakadurga Finance Limited

·         Khush Housing Finance Pvt Ltd

·         Kinara Capital/Visage Holding

·         Kissht (SI CREVA CAPITAL SERVICES PVT LTD)

·         Kotak Mahindra Bank Ltd.-Loans

·         Kotak Mahindra Prime Limited

·         L and T Housing finance

·         L&T Financial Services

·         LIC Housing Finance Limited

·         Light Microfinance Private Limited

·         Loan2Wheels

·         LoanTap CREDIT PRODUCTS PRIVATE LIMITED

·         Loksuvidha

·         Mahaveer Finance India Limited

·         Mahindra and Mahindra Financial Services Limited

·         Mahindra Rural Housing Finance

·         Manappuram Finance Limited-Vehicle Loan

·         Maxvalue Credits & Investments

·         MDFC Financiers Pvt Ltd

·         Midland Microfin Ltd

·         Mintifi Finserve Private Limited

·         Mitron Capital

·         MoneyTap

·         Motilal Oswal Home Finance

·         Muthoot Capital Services Ltd

·         Muthoot Finance

·         Muthoot Fincorp Ltd

·         Muthoot Housing Finance Company Limited

·         Muthoot Microfin Limited

·         Muthoot Money

·         Netafim Agricultural Financing Agency Pvt. Ltd.

·         Nidhilakshmi Finance

·         NM Finance

·         Novelty Finance Ltd

·         OHMYLOAN

·         OMLP2P.COM

·         Orange Retail Finance India Pvt Ltd

·         Oroboro

·         Oxyzo Financial Services Pvt Ltd

·         Pahal Financial Services Pvt Ltd

·         PaisaDukkan-Borrower EMI

·         Pooja Finlease

·         Rander Peoples Co Operative Bank Ltd

·         RMK Fincorp Pvt Ltd

·         RupeeCircle

·         RupeeRedee

·         Samasta Microfinance Limited

·         Sarvjan India Fintech Private Limited

·         Shriram City Union Finance Ltd

·         Shriram Housing Finance Limited

·         Shriram Transport Finance Company Limited

·         Shubham Housing Development Finance Company Ltd

·         SMEcorner

·         SMILE Microfinance Limited

·         Snapmint

·         Spandana Sphoorty Financial Ltd

·         StashFin

·         Svatantra Microfin Private Limited

·         Tata Capital Financial Services

·         Tata Capital Housing Finance Limited

·         Tata Motors Finance Limited

·         Thazhayil Nidhi Ltd

·         Toyota Financial Services

·         TVS Credit

·         Ujjivan Small Finance Bank

·         Varthana (Thirumeni Finance Pvt Ltd)

·         Vastu Housing Finance Corporation Limited

·         Vistaar Financial services Private Limited

·         X10 Financial Services Limited

·         Yogakshemam Loans Ltd

·         Zest Money

·         Ziploan

            So, how is your experience of Loan Repayment via BBPS?

Disclaimer:

Read more at

This Bank Allows EMI Payment Via Google Pay, PhonePe, Paytm Wallets: How Will This Work? @   https://trak.in/tags/business/2021/04/11/this-bank-allows-emi-payment-via-google-pay-phonepe-paytm-wallets-how-will-this-work/

 

How this microfinance firm is empowering women entrepreneurs in rural India with an app @ https://www.indiatvnews.com/business/news-muthoot-microfinance-mahila-mitra-app-empowering-women-entrepreneurs-in-rural-india-729042

 

 

 

 

 

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