India’s credit landscape is witnessing a paradigm shift, especially for salaried professionals across Tier 1 to Tier 3 cities. This transformation is fueled by fintech innovation and a renewed focus on financial inclusion. With a mission to make lending more accessible, empathetic, and tech-enabled, BharatLoan is bridging critical gaps in the personal lending space, shared Amit Bansal, Founder of BharatLoan, in an exclusive interaction with Vishwas Sinha of Elets News Network (ENN). Edited excerpts:
What inspired the creation of BharatLoan, and what specific problem were you aiming to solve in the personal lending space?
The inspiration for BharatLoan stemmed from a very real and persistent issue: countless salaried individuals in India are denied credit simply because they don’t fit into the rigid criteria set by traditional lenders. We saw a gap where deserving, responsible borrowers were being left out, not due to lack of intent, but because of a system that didn’t account for the realities of the modern salaried professional. BharatLoan was founded with the mission of integrating these individuals into the formal credit ecosystem through a more inclusive, safe, quick and tech-driven lending model.
How does BharatLoan differentiate itself from traditional NBFCs and other digital loan providers?
Our approach is grounded in accessibility, empathy, and innovation. While many digital lenders focus solely on automation and scale, we strike a balance between speed and personalised service. BharatLoan as a brand brings a new-age FinTech approach. We don’t treat our customers as just data points but we look beyond credit scores, we listen and we customise. Our dedicated loan officers, combined with a seamless digital experience, ensure we cater to both the underserved and the digitally savvy.
Can you walk us through the 3-step loan application process and how it ensures both speed and security?
Our 3-step process is designed for simplicity and trust. Step one: The applicant fills out a basic online form with personal and employment details. Step two: They upload key documents digitally for verification —no paperwork, no visits. Step three: Our system assesses the application using both conventional and alternative credit checks, and upon approval, disbursal happens within hours. Throughout this journey, we’ve embedded robust data encryption and compliance protocols to ensure every customer’s information remains secure and confidential.
What challenges do salaried professionals typically face in securing credit, and how does BharatLoan address those pain points?
Salaried professionals, especially those in Tier 1 and 2 cities or working in non-MNC setups, often face issues like insufficient credit history, rigid eligibility norms, or a lack of documentation. Traditional institutions tend to overlook the unique financial patterns of such individuals. At BharatLoan, we’ve built a lending philosophy that embraces these nuances. Our credit evaluation looks at alternative data like employment stability, bank behavior, and digital footprints, making it easier for first-time borrowers or those previously declined to access credit.
How is BharatLoan leveraging technology to assess creditworthiness beyond traditional credit scores?
Technology is the bedrock of our underwriting model. We use machine learning algorithms to analyse a borrower’s digital financial behavior. This helps us create a more holistic borrower profile. Our proprietary scoring engine allows us to offer credit to customers who might not have a high CIBIL score but demonstrate reliability through other data points. It’s about painting the full picture, not just reading one line of a credit report.
What role do you see fintech NBFCs playing in India’s broader goal of financial inclusion?
Fintech NBFCs like BharatLoan are acting as catalysts in democratising credit access. We bring agility, reach, and innovation to a sector that has traditionally been exclusionary. Whether it’s through multilingual apps, instant approvals, or minimal documentation, we are enabling people who were once invisible to the credit economy to now plan their futures with confidence. This aligns directly with India’s vision for greater financial inclusion and a more equitable financial system.
What are your expansion plans, especially for underserved markets in semi-urban and rural areas?
We believe that BharatLoan can be most impactful where access is currently the lowest. Our roadmap includes expanding into semi-urban and rural pockets through strategic partnerships, vernacular app interfaces, and assisted digital onboarding. We’re also working on lighter, mobile-first loan products tailored for customers in these regions. Over the next 12–18 months, we plan to significantly strengthen our presence across Tier 2 and Tier 3 towns with localised support and services.
How does BharatLoan ensure responsible lending and financial education for first-time borrowers?
We see ourselves as financial enablers, not just lenders. That’s why we invest in borrower education from the first interaction—explaining loan terms clearly, discouraging over-borrowing, and offering repayment guidance. For first-time borrowers, we offer interactive modules and one-on-one support to help them understand EMIs, credit scores, and the long-term benefits of good repayment behavior. Responsible lending is at the core of our model because we want our customers to grow with us, not fall into debt traps.
What’s your vision for BharatLoan in the next three years?
Our goal over the next three years is to become the most trusted and accessible digital lender for salaried professionals across Bharat, not just metro cities. We aim to triple our borrower base, launch new financial products like insurance-linked loans and salary advances, and enhance our AI-driven credit engine to serve more unique customer profiles. More importantly, we want BharatLoan to be seen as a financial partner that stands by you in every stage of life, not just in emergencies.
Any trends or shifts you foresee in the digital lending ecosystem in India in 2025 and beyond?
We’re witnessing the emergence of hyper-personalised lending, where offers are tailor-made, and the credit journey is entirely embedded into digital ecosystems. I also foresee a stronger regulatory framework that will filter out non-compliant players and bring greater transparency. Additionally, embedded finance, AI-driven underwriting, and financial wellness products will take center stage. For lenders like us, it’s an exciting time to innovate responsibly and serve millions who are coming online for the first time, seeking financial empowerment.
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