PaisaBazaar vs Bank Bazaar: Which Is The Better Finance Service?

Paisabazaar vs Bank bazaar

Ever wondered which financial service is better for your needs- Paisabazaar or BankBazaar? In today’s digital age, choosing the right platform can make a huge difference in managing your finances effectively. Both Paisabazaar and BankBazaar offer a range of services like loans, credit cards, and investment options, but which one stands out? The battle of Paisabazaar vs Bank Bazaar led to a huge dilemma in the minds of folks…

Paisabazaar vs Bank bazaar

Stick with us as we will present a detailed comparison, exploring their features, user experiences, and more. By the end, you’ll have a clear idea of which service is the best fit for you. 

Let’s get started!

(A) Profile Comparison: Paisabazaar vs Bank Bazaar

First of all, let’s compare their profiles and a brief overview of their businesses-

ParticularsPaisabazaarBank Bazaar
Type of CompanyPrivatePrivate
Operating Industry Online Marketplace,
Financial Products
Fintech Industry
HeadquartersGurugram (Haryana, India)Chennai (Tamil Nadu, India)
Business ModelCommission from lending partners on loans availed by usersApplications-based commission from banks
User Base40 million consumers50 million registered users
Key PeopleNaveen Kukreja (Co-Founder & CEO)
Yashish Dahiya (Co-Founder, Chairman & CEO, PB Fintech)
Alok Bansal (Co-Founder & Executive Vice-Chairman, PB Fintech)
Adhil Shetty (Founder & CEO); 
Arjun Shetty (Founder & COO); 
Rati Shetty (Founder & CPO); 
Iype Isac (Chief Delivery Officer)
ProductsLoans, Credit Cards, Free Credit ReportCredit Cards, Loans, Free Credit Scores, Finance Calculators, etc.
Parent CompanyPB Fintech Limited (formerly known as EtechAces Marketing and Consulting)A&A Dukaan Financial Services Private Limited
Valuation$500 million (2018)$197 million (2024)
CompetitorsBankbazaar, Creditmantri, Groww, Bajajfinserv, etc.Paisabazaar, Wishfin, MyMoneyMantra, Apnapaisa, Bajajfinserv, MyLoanCare
Profile Comparison: Paisabazaar vs Bank bazaar

(B) What is PaisaBazaar?

Just imagine having a one-stop platform where you can explore and apply for loans and credit cards effortlessly. That’s exactly what Paisabazaar offers you. Paisabazaar is an Indian digital platform specializing in loans and credit cards, making your financial decisions smoother and more informed.

Founders & Origins

Launched in 2014 by Yashish Dahiya, Alok Bansal, and Naveen Kukreja in Gurugram, Haryana, Paisabazaar quickly rose to prominence. It is now part of PB Fintech, the same parent company that owns the insurance platform Policybazaar.

Market Leadership

By 2020, Paisabazaar had become the largest digital consumer credit marketplace in India, capturing a whopping 51.4% of the market share in terms of loan disbursals. 

Financial Performance

  • Early Growth: In FY17, Paisabazaar’s operating income soared to INR 27.16 crore ($3.96 million), marking a 252% increase from the previous fiscal year. While the company did increase its expenses to INR 50.74 crore ($7.41 million) during the same period, the growth was substantial.
  • Milestones: One of the most impressive milestones came in July 2018, when Paisabazaar reached an annualized loan disbursal rate of $1 billion. By October 2022, the platform had recorded over 30 million visitors, showcasing its widespread popularity and trust among consumers.

Collaborative Efforts


Paisabazaar is not just about loans and credit cards; it’s also a collaborative player in the online consumer credit space. In March 2022, it joined the FACE Consortium, a group of online consumer credit providers like Orange Retail Finance and Phocket, to foster better financial services.

Financial Backing and Investments

In terms of financial backing, Paisabazaar has had significant support from its parent company. In January 2018, PB Fintech committed $31.58 million (INR 200 crore) as part of pre-IPO funding, with additional support from investors like True North and IDG Venture Partners. This financial strength was further underscored when PB Fintech got listed on Indian stock exchanges on November 15, 2021.

Challenges & Resilience

  • Mutual Fund Services: In early 2022, a rumor about Paisabazaar shutting down its mutual fund services circulated, but the company quickly dispelled these reports.
  • COVID-19 Impact: The impact of COVID-19 also forced Paisabazaar to lay off over 1,500 employees in 2020 to reduce costs.

Recent Performance

Despite these hurdles, Paisabazaar has shown remarkable resilience and growth. In Q1 of FY24, its operating revenue surged by 59% to Rs.134 crore, with loan disbursals growing 53% year-on-year to Rs 3,542 crore. This growth helped reduce PB Fintech’s net loss significantly, from Rs 204.3 crore a year earlier to just Rs 11.9 crore by the end of June 2024. 

Impressively, Paisabazaar contributes about 20% to PB Fintech’s overall operating income each quarter, underscoring its importance in the group’s financial ecosystem.

(C) What is BankBazaar?

Bank Bazaar

Have you ever wished for an easy way to understand and manage your finances online? Meet BankBazaar, a leading fintech platform in India that simplifies access to credit and other financial services. With over 50 million registered users, BankBazaar is your go-to resource for checking credit scores, comparing financial products, and more, all from the comfort of your home.

Global Support and Investment

BankBazaar is backed by a stellar lineup of global investors including WSV, Experian, Eight Roads, Sequoia India, Walden International, and Amazon. This strong financial backing has propelled BankBazaar to the forefront of democratizing finance in India, making it easier than ever for users to access and manage credit.

Free Credit Score

One of the standout features of BankBazaar is its free credit score check. You can access your credit score from four different credit bureaus, helping you get a comprehensive understanding of your credit health. Knowing your credit score is crucial before applying for loans or credit cards, as it influences your approval chances and the terms you might receive.

Co-Branded Credit Cards

BankBazaar collaborates with leading banks to offer co-branded credit cards. These credit cards come with a host of benefits and features tailored to suit various needs and lifestyles. Whether you’re looking for travel rewards, cashback, or low interest rates, BankBazaar’s co-branded credit cards have something for everyone.

Personal Finance Comparison Tools

Navigating the complex world of personal finance is made simpler with BankBazaar’s comparison tools. The platform allows you to compare and apply for a wide range of financial products, including loans, credit cards, and insurance. What’s more, BankBazaar ensures a seamless experience with contactless KYC and paperless approval processes, saving you time and hassle.

Blogs & in-depth Financial Information

BankBazaar is not just a marketplace for financial products; it’s also a treasure trove of personal finance content. The platform offers in-depth articles, guides, and tips to help you make informed decisions about your finances. 

Whether you’re learning about budgeting, understanding loan terms, or exploring investment options, BankBazaar’s content library has you covered.

(D) Features Comparison of Paisabazaar vs Bank Bazaar

Now here comes the most anticipated part of this write-up! Which is the better financial service? Go through the following features listed in the table below and you’ll find out-

FeaturesPaisabazaarBank Bazaar
Platform FocusDigital loans and credit cardsCredit cards, loans, insurance, and free credit scores
Products & Services OfferedPersonal loans, home loans, offer loans, insurance policies, credit cards, and investment options Credit cards, personal loans, home loans, car loans, insurance policies, investment options, etc.
Famous forLoan comparison, personal finance content, disbursalsComparison tools, contactless KYC, paperless approval, in-depth finance content
User ExperienceStreamlined for loan and credit card applicationsUser-friendly with a variety of financial tools 
Financial BackingPB Fintech, True North, IDG Venture Partners WSV, Experian, Eight Roads, Sequoia India, Walden International, Amazon
Educational ContentProvides personal finance contentExtensive personal finance articles and resources  
Customer Support[email protected] 
or 1800 208 8877 (9:30 am – 6:30 pm)
[email protected]
or 91-44-66511800
Number of LendersOver 100 banks and NBFCsNot specified, but multiple lenders
Loan Comparison ServiceComprehensive comparison service for loans based on interest rates, loan amount, repayment tenure, and other factorsAlso provides a loan comparison service 
Credit Card Comparison ServiceOffers credit card comparison based on features like rewards, cashback offers, annual fees, and interest ratesProvides a credit card comparison service as well.
Comparison of Features: Paisabazaar vs Bank bazaar

As per the user reviews, both platforms cater to their audience with debt and insurance products, but Paisabazaar stands out with its clean interface and credit management features. Meanwhile, BankBazaar focuses on identifying credit-worthy customers and connecting them with banks. 

Note: We have also compared the key differences between Bajaj Finserv and Bajaj Finance in detail. If you want to know which one is better for you, then go through the article Bajaj Finserv vs Bajaj Finance.

(E) Business Comparison: Paisabazaar vs Bank bazaar

Now, we need to dive into the financials of both Paisabazaar and Bank Bazaar to understand which company is doing better in the market.

Business AspectsPaisabazaarBankbazaar
Valuation$500 million (2018)$197 million (2024)
RevenueRs.120 crore (FY23) Rs.159 crore (FY23)
ExpensesN/ARs.197 crore (FY23)
Profit/LossRs.9 crore (PB Fintech’s loss in Q4 FY23)Loss of Rs.36.7 crore (FY23)
Market Share51.4% (Year 2020)N/A
Annual Loan DisbursalsRs.11,619 crore (FY23)Rs.3,000 crore (FY 12)
Investor SupportPB Fintech,
True North,
IDG Venture Partners  
Eight Roads,
Sequoia India,
Walden International
Business Comparison: Paisabazaar vs Bankbazaar

Take a closer look, and you’ll notice how their fortunes have shifted over the years. While Paisabazaar’s valuation stood at $500 million in FY18, Bank bazaar’s was valued at $197 million in FY24. Unfortunately, the latest data of Paisabazaar is not available yet. 

Diving into revenue, Paisabazaar raked in Rs.120 crore in FY23, just shy of Bankbazaar’s Rs.159 crore in the same period. Though Paisabazaar’s expenses are under wraps, Bankbazaar laid out Rs. 197 crore in FY23.

Despite diverse revenue streams, both companies grappled with losses, with Paisabazaar tallying a Rs.9 crore loss in Q4 FY23 and Bankbazaar facing a steeper Rs.36.7 crore loss for FY23. With a commanding 51.4% market share in 2020, Paisabazaar stands out, while Bankbazaar’s share remains a mystery.

Moreover, Paisabazaar disbursed a hefty Rs. 11,619 crore in loans during FY23, in contrast to Bankbazaar’s Rs. 3,000 crore in FY12. 

These figures paint a vivid picture of the financial landscape these companies navigate in the fintech world!

(F) Is PaisaBazaar trustworthy?

Is Paisabazaar trustworthy claims to be India’s largest online marketplace for financial products, with millions of customers across the country. They have an ISO 27001:2013 certification, which means they have strong security measures in place to protect your data. 

They say they take steps to keep your information safe, and they offer services like free credit score checks and access to your Full Free Credit Report (FFCR) as per RBI guidelines.

However, not everyone has had a smooth experience. 

Some users have complained about receiving spam calls, fake credit score messages, and unwanted loan notifications. One person even had to get legal help because of spam calls, while another had police involved due to an email about a loan they didn’t take.

So, while has its good points, it’s important to be cautious. Make sure to double-check any messages you get from them and be aware of potential risks. 

If you’re unsure about something, it might be a good idea to talk to a financial advisor or do some more research before making any decisions!

(G) Is Bank Bazaar safe?

Is Bank Bazaar safe

BankBazaar is a safe and trustworthy platform for comparing and managing financial products in India. They take data security seriously, using advanced encryption and secure protocols to protect your personal information. BankBazaar does not share your data with unauthorized parties, ensuring your privacy is maintained. 

One of the reassuring aspects of BankBazaar is that all their services are free. You won’t be charged for comparing or applying for financial products, which reduces the risk of financial fraud.

As you have read above, BankBazaar offers a comprehensive range of financial product comparisons, including loans, credit cards, insurance policies, and investment options. Their platform provides detailed information on interest rates, fees, and other important terms, helping you make informed decisions. 

Additionally, you can check your credit score for free on BankBazaar’s website without impacting your score. This service is invaluable for monitoring your financial health and understanding your eligibility for loans and credit cards.

Transparency is a key feature of BankBazaar. They clearly outline the terms and conditions of the financial products they list, reducing the chances of any unpleasant surprises. BankBazaar also provides robust customer support to assist with any queries and offers educational resources to help you better understand financial products.

However, it’s important to stay vigilant and ensure that any communication you receive is directly from BankBazaar. Be cautious of requests for upfront payments, as their services are free. 

So yes, BankBazaar is a safe, reliable, and secure platform for managing financial products, with strong data protection measures and transparent services. All these features make it a trustworthy choice for users.

(H) Final Words: Who is the winner?

In the battle of PaisaBazaar vs BankBazaar, both contenders offer a wide array of financial services and tools. PaisaBazaar boasts ISO certification for data security, while BankBazaar prides itself on its vast network of banking partners. Both platforms provide free credit score checks and facilitate easy comparisons of loans and credit cards. 

However, BankBazaar’s transparent fee-free model and extensive bank collaborations tip the scales in its favor. With its user-friendly interface and robust safety measures, BankBazaar emerges as the superior choice for navigating India’s financial landscape. 

Thus, BankBazaar emerges as the winner in this showdown of finance service titans!

By the way, how was your experience with Paisabazaar or Bank Bazaar? Feel free to share your experience and thoughts in the comment section given below! Thanks for reading 🙂

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Published By: Supti Nandi
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