- 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, February 12, 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 paperwork. 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.