BankBazaar.com is an online loan

Loan

A loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower....

 marketplace based in Chennai

Chennai

Chennai , formerly known as Madras or Madarasapatinam , is the capital city of the Indian state of Tamil Nadu, located on the Coromandel Coast off the Bay of Bengal. Chennai is the fourth most populous metropolitan area and the sixth most populous city in India...

, India

India

India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...

. Adhil Shetty, Arjun Shetty and Rati Rajkumar founded BankBazaar.com in 2008 and launched it online in July 2008. The product line includes unsecured personal loans, home loans, home loan transfers, loans against property and car loans.

Bankbazaar.com's founding team have previously worked for firms including Amazon.com

Amazon.com

Amazon.com, Inc. is a multinational electronic commerce company headquartered in Seattle, Washington, United States. It is the world's largest online retailer. Amazon has separate websites for the following countries: United States, Canada, United Kingdom, Germany, France, Italy, Spain, Japan, and...

, Kraft Foods

Kraft Foods

Kraft Foods Inc. is an American confectionery, food and beverage conglomerate. It markets many brands in more than 170 countries. 12 of its brands annually earn more than $1 billion worldwide: Cadbury, Jacobs, Kraft, LU, Maxwell House, Milka, Nabisco, Oscar Mayer, Philadelphia, Trident, Tang...

, Deloitte Consulting and Capital One

Capital One

Capital One Financial Corp. is a U.S.-based bank holding company specializing in credit cards, home loans, auto loans, banking and savings products...

. In May 2009, MSN

MSN

MSN is a collection of Internet sites and services provided by Microsoft. The Microsoft Network debuted as an online service and Internet service provider on August 24, 1995, to coincide with the release of the Windows 95 operating system.The range of services offered by MSN has changed since its...

 India partnered with BankBazaar.com for financial content. Business Today magazine featured BankBazaar.com as one of 'India's Hottest Start-ups' in 2010. Entrepreneur magazine has also featured BankBazaar.com in its June 2010 issue

Bankbazaar.com's partner banks include Indian and foreign banks including ING

ING Group

The ING Group is a global financial institution offering retail banking, direct banking, commercial banking, investment banking, asset management, and insurance services. ING is the Dutch member of the Inter-Alpha Group of Banks, a cooperative consortium of 11 prominent European banks...

, Axis Bank

Axis Bank

Axis Bank Limited, formerly UTI Bank, is a financial services firm that had begun operations in 1994, after the Government of India allowed new private banks to be established...

, Deutsche Bank

Deutsche Bank

Deutsche Bank AG is a global financial service company with its headquarters in Frankfurt, Germany. It employs more than 100,000 people in over 70 countries, and has a large presence in Europe, the Americas, Asia Pacific and the emerging markets...

, Citifinancial, HDFC Bank

HDFC Bank

HDFC Bank Limited is a major Indian financial services company based in India, incorporated in August 1994, after the Reserve Bank of India allowed establishing private sector banks. The Bank was promoted by the Housing Development Finance Corporation, a premier housing finance company of India...

, Kotak Mahindra Bank

Kotak Mahindra Bank

The Kotak Mahindra Bank is a financial organization established in 1985 in India. It was previously known as Kotak Mahindra Finance Limited, a non-banking financial company. In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the license to carry on banking...

, Housing Development Finance Corporation

Housing Development Finance Corporation

Housing Development Finance Corporation Limited or HDFC , founded 1977 by Hasmukhbhai Parekh, is an Indian NBFC, focusing on home mortgages. HDFC's distribution network spans 283 outlets that include 66 offices of HDFC's distribution company and HDFC Sales Private Limited.In addition, HDFC covers...

, ICICI Bank

ICICI Bank

ICICI Bank Ltd. is India's second largest financial services company headquartered in Mumbai, India. It offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries in the areas of...

 and Reliance Consumer Financial.

Locations

BankBazaar.com's headquarters are based in Kodambakkam area of Chennai

Chennai

Chennai , formerly known as Madras or Madarasapatinam , is the capital city of the Indian state of Tamil Nadu, located on the Coromandel Coast off the Bay of Bengal. Chennai is the fourth most populous metropolitan area and the sixth most populous city in India...

. The company has a software development center in Bengaluru.

Products and services

• BankBazaar.com's product lines include personal loans, home loans, home loan refinancing & car loans.
• Axis Bank, India's third largest private sector Bank, uses BankBazaar-powered technology to service Home Loan & Car Loan seeking customers on its website www.axisbank.com..
• HDFC Bank, India's second largest private sector bank, uses BankBazaar-powered technology to service Credit Card, Personal Loan and Car Loan seeking customers on its website www.hdfcbank.com. Applicants are redirected to www.HDFCBankSmartApply.com to complete their credit card and loan applications.
• HDFC Ltd, India's largest private sector housing finance company, uses BankBazaar-powered technology to service Home Loan seeking customers on its website www.hdfc.com. Applicants are redirected to www.HDFCInstantHomeLoans.com to complete their home loan applications.

Reviews

BankBazaar.com allows users to provide reviews for each product. Reviewers can rate the product on a rating scale

Rating scale

A rating scale is a set of categories designed to elicit information about a quantitative or a qualitative attribute. In the social sciences, common examples are the Likert scale and 1-10 rating scales in which a person selects the number which is considered to reflect the perceived quality of a...

 from one to five stars.

Funding

BankBazaar.com started with initial investment from the founders and angel investors. In mid 2008, BankBazaar received funding of 1 million USD from A.V. Thomas Infotech (a part of the A.V. Thomas Group of companies).
In March 2011, BankBazaar.com received an investment of 6 million USD from Walden International, an international Venture Capital firm with over $1.6BN in investments.

Advisory board

• Arvind Panagariya, Bhagwati Professor of Economics at Columbia University and retired Chief Economist at the Asian Development Bank
• N Rangachary, founding Chairman of the Insurance Regulatory and Development Authority (IRDA) of India
• V. P. Shetty
  V. P. Shetty
  Vaddarse Prabhankar Shetty better known as V.P. Shetty is an Indian banker who retired as Chairman and Managing Director of IDBI Bank in 2007.Before joining IDBI,He was also the Chairman and Managing Director of UCO Bank and Canara Bank...
  
  , director of JM Financial Securities Pvt. Ltd., chairman of Indian Banks Association 06-07, Retired Chairman & Managing Director - IDBI Bank, Canara Bank and UCO Bank
• Suresh Talwar, partner at Talwar Thakore & Associates, director at Cadbury India, Birla Sun Life and BioCon

External links

• Official site
• Official Financial Guide for Loans India