Paisabazaar, India’s largest digital marketplace for consumer credit, today announced that over 50 million consumers have now checked their free Credit Score from the platform, making it India’s largest free credit awareness initiative. The milestone underscores Paisabazaar’s commitment over the last decade to drive credit awareness and financial inclusion through its pioneering Free Credit Score initiative.
Launched in 2017, Paisabazaar’s Free Credit Score initiative is lifetime-free, offering consumers access to their credit scores from multiple credit bureaus, in seven languages. Over the years, Paisabazaar has also continuously invested in technology and focussed on innovation, not only to make accessing and tracking credit score seamless, but also to spread awareness and provide insights on building credit health. According to Paisabazaar’s estimates, over 16% of India’s active credit score consumers (who have at least one active credit product) have checked their free credit score from Paisabazaar.
Naveen Kukreja, Co-founder & CEO, Paisabazaar, said, “We are extremely proud of the sheer scale of our credit score product and the way it has evolved over the years, keeping consumer need at the centre. We realised early in our journey that lack of awareness around credit score is a major pain-point for consumers, leading to a high proportion of rejections. For the last few years, we have focussed on building solutions that empower consumers to take charge of their credit health. Reaching 50 million consumers is a significant milestone, reaffirming the trust in our platform from varied segments. We remain committed to helping enhance financial literacy, improve access and strengthen the overall credit ecosystem.”
Today, around 70% of those who have checked their credit score on Paisabazaar are from beyond the top metro cities (Ahmedabad, Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai, and Pune.) Currently, three out of four new consumers who check their credit score for the first time on Paisabazaar come from outside these major urban centres, highlighting the platform’s role in deepening credit awareness across Bharat.