50 million users check free credit score on Paisabazaar: How is India’s credit market changing – CNBC tv18

According to the company, more than 50 million consumers have checked their free credit score on Paisa Bazaar. The platform provides free access from several bureau to credit scores in seven languages.

Paisabazaar launched its free credit score initiative in 2017.

The platform estimates that 16% of India’s active credit score users – at least one credit product – has checked its score through the pisabazar.

The company says that 10.2 million consumers improved their credit score within six months of examining it. About 59% of users took at least one credit product after checking their score.

Additionally, 18 million users who had their credit reports in their credit report on the previous day approved their outstanding loans.

The Paisabazaar user reports a change in demographics.

In the early years, 20% of the users were from non-Metro cities reaching their credit scores. Currently, 70% of users are beyond the top metros. Three of the four new users are first checking their credit score that come from outside the major urban centers.

The platform also provides features such as a score prophet, which helps users understand the impact of credit action, and PB Assist, an AI-Interested Chatbot that provides real-time insight.

Paisabazaar is part of the PB Fintech group, which has been listed in Indian stock exchanges since 2021.