Basic Home Loan provides a mortgage distribution platform that automates the loan application process through proprietary technology, enabling users to receive instant eligibility checks and personalized quotes from over 90 banking partners. The platform addresses the complexities of securing home loans by offering a paperless application process and dedicated support, streamlining the journey from application to sanction.
Funding
$19.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
BICVFounders
Product
Problem
Securing a home loan can be a complex and time-consuming process, often requiring extensive paperwork and physical visits to bank branches. Comparing offers from multiple lenders to find the best rates and terms adds further complexity for borrowers.
Solution
Basic Home Loan offers a mortgage distribution platform that streamlines the home loan application process through a proprietary tech stack. The platform provides users with instant eligibility checks and personalized quotes sourced from over 100 lending partners, including banks and NBFCs. By digitizing loan origination, documentation, and customer verification, Basic Home Loan enables a paperless application experience with dedicated agent support. The platform also supports home loan balance transfers and loans against property.
Target Audience
The primary target audience includes individual homebuyers, particularly those in tier 2 and 3 cities in India, as well as agents and builders seeking to facilitate home loan access for their clients.
Features
- Instant eligibility checks based on digitized credit policies from over 100 banks and NBFCs
- Personalized quotes from a wide range of lenders
- Digital loan sanctions with doorstep delivery and advisory services
- Online loan tracker providing step-by-step updates on application status
- Agent support tools for managing customer profiles and live case tracking
- EMI calculators for various banks and loan types
- Options for home loan balance transfer, loan against property, plot and construction loans, and renovation loans
- Mobile app for convenient access and application tracking