- Focussing on service and trust, the campaign showcases Home Credit’s role in helping customers to be financial literate & to avail safe loans
- Research conducted in Delhi and Mumbai by a reputed research agency, reveals insights on customers’ mindset on taking loans
Home Credit India Finance Pvt. Ltd., one of India’s fastest growing non-banking financial companies (NBFCs), has unveiled its new brand campaign, “Bade bano bade chalo” which encourages customers to rise up when taking loans, especially if they are hesitant in borrowing from family and friends. The company conducted a research to gauge the thinking pattern of people when it comes to taking loans for their needs and aspirations.
The campaign communicates relatable instances from daily lives of our customers and reinforces Home Credit’s positioning as a responsible lender and an active participant in the communities where it operates. It also showcases Home Credit’s role in helping the customers to be financial literate and encourages them to avail safe, easy and quick loans from financial institutions.
Speaking on the occasion, Martin Navratil, Chief Business Development Officer (CBDO) at Home Credit India, “Customer is at the center of our new brand initiative ‘Bade bano bade chalo.’ The campaign reinforces Home Credit’s commitment towards Responsible Lending. We focus on first time borrowers by providing loans to people who do not have any CIBIL scores and who need access to trustworthy and regulated sources of financing.”
The research conducted in Delhi and Mumbai highlights interesting facts into the changing mind-sets of people when it comes to taking loans:
- More than 70% of the people are not comfortable borrowing money from close ones
- People are comfortable to borrow up to approx. INR 73,000 from their near and dear ones
- As a first choice to borrow money from – In Delhi, 45% prefer parents whereas in Mumbai, 39% prefer their friends
- From family and friends, people in Delhi borrow more for marriage (36%) and investment in business (33%) whereas people in Mumbai borrow more for asset purchase-consumer electronics (31%), household expenses (30%) and travel (23%)
- Order of preference for borrowing money: Bank, family, NBFC, friends and relatives. NBFC is preferred more in Delhi (39%) as compared to Mumbai (11%)
- Overall, most people want to pay back the loan in monthly instalments but 38% of people in Delhi want to pay back the entire loan amount together.
The campaign Bade bano bade chalo is another step taken by Home Credit India to express assurance towards its customers. Through this campaign, the company would motivate its customers to rise up when taking loans, especially from families and friends. Bade bano bade chalo is all about self-motivation and taking a positive approach towards life.
Home Credit Group is developing its footprint in Asia’s fast-growing, high-potential markets and in the U.S., while maintaining its role as a market leader in Central and Eastern Europe and CIS. Its distinctive business model of providing consumer finance products which are easily accessible even at the lower end of the economic scale is a formula which has been successfully rolled out in China, India and South East Asia. Home Credit Group has developed both bricks-and-mortar and online distribution that makes it very attractive to manufacturers and retailers who are seeking a consumer finance partner. This in turn supports the rapid development of Home Credit’s loan portfolio.