Axis Bank, the country's third-largest private sector lender, has decided to offer collateral-free, pre-approved loan offers to sellers on Snapdeal. The amount of loan will range from Rs 2 lakh to Rs 1 crore and will be available to them till the end of this month through their Snapdeal seller panels.
For this, the bank will look at the past history of the sellers on the platform before disbursing the loan. These loans are being offered to enable sellers who are mostly SMEs to scale-up inventory and meet the huge surge in demand in the run up to Diwali.
