You are reading it here first: Bharatmatrimony will announce the launch of its personal loans Web site Loanwala.com today. The company, which also runs Clickjobs.com, IndiaProperty.com and IndiaAutomobile.com, has tie ups with a number of banks such to offer personal loans, automobile loans and property loans to site applicants. Applications of members who post their loan needs with employment and salary details will be checked and sent to member banks that offer such loans. Customers will then get offers from interested banks and can choose the best rate.
The concept itself is not new with sites like apnaloan.com, personalfn.com and myiris.com offering similar services. But since Bharatmatrimony is talking to prospective loan seekers through its existing classifieds sites, Loanwala could get decent traffic. Ultimately, customer satisfaction and word of mouth publicity will be key for the survival of Bharat Matrimony CEO Murugavel Janankiraman’s new venture.