Apnaloan.com, which claims to be a vendor-neutral marketplace for loans and credit cards, has joined hands with bazee.com, an Internet-based auction site, to hold online reverse auctions for home loans. In the first leg of the reverse auction, the consumer will indicate his capacity to pay equated monthly equated installments (EMI) for home loans and in the next stage, the banks will bid for taking up the loans by offering the consumers the best possible price.
To start with, the portals have tied up with three banks