Some of the companies who have tie-ups with multiple banks include, , Destimoney Enterprise Pvt. Hence, these companies provide more choices to the customers and help them in getting cheaper loans. Multiple tie-ups: These companies have tie-ups with different banks and do not rely on just one bank. These agents approach you with various offers when you visit a bank. Single tie-up: These loan arrangers have a tie-up with a single bank and can only help in securing a loan from that particular bank. However, there are different types of loan arrangers in the market and you need to find one who will give you the best service. And we provide these services at the doorstep of customers," says Surjit Singh Grover, head (e-commerce), Andromeda Marketing Pvt. Our main functions include completing documentation, submitting documents to banks and ensuring that the process does not take much time. “We basically work as an intermediary between a loan provider and a loan seeker. So in a way, they help you save time and ensure the process remains smooth for you. Also, if the bank requires additional documents, the loan arranger will collect it from you and submit it to the bank. They also keep following up with the bank on the status of the loan as well. The entire loan process is undertaken by them. And since they facilitate or arrange loans for you, they are also called loan arrangers. These entities are, in general, direct selling agents of one or more banks.
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