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IDFC First Bank – Best Bank in Pre-owned Auto Loans

IDFC Bank – It is time for celebrations for the entire IDFC Bank collective since they have been honored with the most prestigious and highly coveted Droom’s award of being the Best Bank in Pre-Owned Auto Loans for the year 2019.

IDFC Bank - Best of droom_best bank

20th of December 2019 was a red-letter day for the IDFC Bank collective since on that day the very significant certificate for being the Best bank in giving Auto Loans was delivered to them. It was the annual prize-giving ceremony held in ITC Maurya where the results of Droom Pre-owned Auto Award 2 competition were announced and awards handed over. The event was attended by many important people in the automobile industry apart from the media and many related institutions.

The award was in recognition of the efforts of this bank in making the purchase of a pre-owned vehicle possible for a large number of people. It may be appreciated that the bank gave loans against pre-owned vehicles, which had not only delivered quite a long service already but had also had to sustain against the hazards of multiple ownership changes that they had to undergo.

After extensive processing IDFC First Bank was announced the winner of ‘Best Bank in Pre-owned Auto Loans’ contest for the year 2019.

Judging Methodology

Since transparency is one of the major strengths of Droom it is only natural that the method they followed for selecting the winner in this category of the competition will also be fully clear, transparent and visible. The criteria they chose was the NUMBER of loans sanctioned and disbursed by a bank. The volume of the loan did not matter much, but the number of loans showed the level of cooperation the bank extended to make a purchase possible for the buyer.

About IDFC First Bank

Headquartered in Mumbai IDFC First Bank has been in operation since October 2015. Before that, it was existing as a Non-Banking Finance Company since the late 1990s. They extend loans to not just the commercial users but also to individuals for meeting their vehicles shortfall. They are doing an excellent job in the rural sector as well for supporting entrepreneurial efforts.

Droom is India’s largest automobile platform online, 4th largest E-Commerce company and the most trusted motorplace. It believes to be an AI and data science driven online transactional platform, that offers the best experience of buying and selling used and new automobiles in India with the help of its entire eco-system that includes Orange Book Value (used vehicle pricing engine), ECO (vehicle inspection), History (records for used vehicles), Discovery (pre-buying research tools), Credit (used auto loan and dealer financing), and Germ Shield (antimicrobial coating service). Here, we have a team of auto experts and auto enthusiasts who are dedicated to cover every sphere of the auto industry by simplifying the procedure of buying and selling, and by spreading the true essence of auto industry to all.

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