·Launches four branches at Hyderabad, Secunderabad, Karimnagar & Kamareddy
·Representatives to service in nine other towns
·To spread its network pan Telangana in six months
Hyderabad, 11th February , 2022: EazyDrive Financial Services LLP., into disbursing two wheeler loans, was formally launched by Chief Guest Shri V. Pallam Raju, Regional Manager, SBI; today at Bowenpally. Also present on the occasion were Shri Dharmender Chavan, AGM (SME-SBI); Shri Cholleti Shankaraiah, Transport Contractor; Shri Aekka Chandrashekhar, Social Activist; Shri Sai Lekh Raj, Chairman, Rangachary & Co; Shri Patha Laxman, Chairman, Srinivasa Group; besides the EazyDrive Managing Partners Teja Pavan Kumar and Kiran Kumar and Partners Srikanth Elluru and Vidhyadhar BM.
Speaking on the occasion Shri Pallam Raju said, happy about the launch of EazyDrive, we want to fund and partner with them. The easy documentation process they are introducing is innovative, in Banks we have a product called Pre-approved personal loans. Preowned vehicles are not financed by the Banks, that’s where they can gain lions share.
Teja Pavan Kumar said, EazyDrive has taken franchise of Deccan Finance Ltd., and will be financing two wheelers all over Telangana. Generally finance companies extend loan for new vehicles, but we will be financing not only new vehicles, also the used vehicles, also for the first time we are financing electric two wheelers and hi-end bicycles costing Rs 35000/- and above. Currently we have 4 branches and in 6 months want to make it 10 branches in Telangana. We will be offering loans at the lowest down payment and very low interest rate. We have four branches and will add Warangal, Khammam, Nalgonda and establish all over Telangana. We will extend loans to even sections like farmers, housewives, job holders, to those running businesses but don’t have income proof to submit, those with or without collaterals and to the common man.
Srikanth Elluru said, we offer funding to all kinds of customers, be it low income, no income proof etc., for purchasing two wheelers. We approve loans with minimum paper work. The approvals will be fast, in less than half an hour loans are approved.
EazyDrive, associated with the reputed NBFC, Deccan Finance Ltd., Chennai; as a Co-Lending partner; is a one-stop-shop for two wheeler loan disbursement across Telangana. It is one of the few two wheeler finance companies offering a paperless agreement process without insisting on income proof. This helps to expedite and ensure immediate disbursement of the loan. It also spares the customer of hassles of lengthy documentation process and multiple visits to realise the loan. EazyDrive is laying special emphasis on making the rate of interest affordable to middle and lower middle class customers. There are customer friendly repayment options in place including e-mandates, UPI, Virtual and through other digital modes.
EazyDrive services loans for all brands and types of two wheeler, including new and used two-wheelers and all varieties of motorcycles, scooters, mopeds, electric scooters and Hybrid Bicycles. As part of the first phase it began its operations today with four branches at Hyderabad, Secunderabad, Karimnagar and Kamareddy. To reach out to the vast market it has representatives servicing clients at nine other towns of Warangal, Nizamabad, Siddipet, Sangareddy, Malkajgiri, Medchal, Gajwel, Vikarabad and Armoor. EazyDrive will spread its network pan Telangana, in the next six months.
About Deccan Finance Ltd.,
Deccan Finance is a four decade old NBFC, with business interest in used cars, commercial vehicles. In April, 2021 April it ventured into financing exclusively Two Wheeler Loans under the brand name "Ride - Two Wheeler Loans." Under the Ride Brand, Deccan funds all two-wheelers, New, Used, Electric and Hybrid Bicycle. To specifically target the Electric Vehicles market, Ride will soon launch its new Brand - Ride Electric. Currently, Ride Two Wheeler Loans has JV with Greaves Leasing and Finance Ltd., to jointly fund Ampere Brand of Electric Vehicles. Ride Electric will soon foray into financing low speed electric vehicles.
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