BFL Process Download

Welcome !!
Thanks for your Valuable presence ..
Aman Seth
9920866976

Vishambhar Rathore
8390190001
A Advantages of BFL

B BFL process & schemes

C Learnings so far

D Future plan

E Q&A
Advantages of BFL

Recognised Brand Fastest Approval with Best Rates

Most recognised NBFC in India. BFL have a standard TAT of 3 minutes
01 We disburse 2 million loans per month 02 of approving a loan
in consumer lending biz with 1.5 lac Our approval rates are unmatched
crore AUM in FY’20 and highest in industry

EMI card Base Geographical Reach

We have 30 Million Customers having BFL is present in 2200 cities in India,
03 preapproved credit limit in form of a 04 we are sourcing from all Metropolitans
card. In addition we have 8 crore pre- Tier 1 2 & 3 cities for Whitehat
approved customers already.
Advantages of BFL Easy EMI
1 Conversion 2 Upselling

• Improved leads to conversion • Approval happens in 3

ratio
• Improves customer’s
capability to opt for courses
provided by partner
• Enhances wallet size of • Dynamic Limit enables the
Minutes
customers customer to go for more
• After quick approval, customer
• Increased affordability results • There are only two tools to
have minimum docs to share
in product upgradation upsell, Discount and EMI. EMI
Finance is the first choice

3 EMI Positioning 4 Acquisition

• The course is pitched on EMI • No Cost EMI – Transforms the • 3 Cr + EMI card base with12 • Cross Promotional Activities w
and not Price business (Example) crore preapproved loan line ith partners of similar target A
• Eg. “now your child can be a • Customer compares EMI and n • BFL Engine becomes your udience
certified web-developer in ot Overall price marketing tool • Increased Reach
just 2800/- per month” 25k vs 35k is EMI of 3k vs 3.5k
BFL Process – Basic Definitions
EMI – Equated Monthly Installments – The amount customer will be paying on monthly basis to repay the Loan
No Cost EMI – The EMIs where Customer don’t incur any additional cost on Loan Amount.
i.e. 1,20,000 = 10000 X 12
Loan Amount – Total Fee Amount considered for finance
Loan Tenor – Total Months of Loan
Down Payment or DP– The amount Customers pays upfront at the time of taking Loan
Processing Fee : The amount charged to the customer for processing the Loan. For Whitehat, it is NIL.
Finance Scheme – The scheme matrix, usually described as 10/2 (10 by 2) or 18/6 etc.
10/2 means total 10 months Loan with down-payment of 2 months. Ex – If Loan Amount is 50,000 under 10/2, then EMI will be amount
divided by 10 i.e.5000/- and down-payment will be 10000/-(5000 X 2).
The customer will pay 10000/- upfront and 8 EMIs of 5000 each for next 8 months
Customer – Parent or Legal Guardian is the Customer
Approved Banks – List of 33 banks where we can do e-NACH
Customer Profiling – How to evaluate - Eligibility
Common ID Proof Salaried
Driving License
Age Band - 23 to 60 Years
Pan Card
Passport Credit card holder
Adhaar Card Working in Elite company
Voter ID Card Salary income proof Can be any
Employment ID – Listed/Govt Bajaj Existing Customer of these
EMI card holder
Common Address Proof CIBIL – Healthy CIBIL Score
Driving License
Passport
Adhaar Card
Latest Electric City Bill Self Employed
Latest Postpaid landline Age Band - 23 to 65 Years
Rent agreement - 6 Month Old
Credit card holder
Purchase agreement
Bajaj Existing Customer
EMI card holder Can be any
Residence Type CIBIL – Healthy CIBIL Score of these
Owned / Rented house. Banking – Bank Statement
NO PG/Shared Accommodation
Customer Profiling – How to evaluate - Eligibility

Common ID Proof
Driving License Salaried
Pan Card Age Band - 23 to 60 Years
Passport Credit card holder
Adhaar Card Working in Elite company
Voter ID Card Salary income proof Can be any of
Employment ID – Listed/Govt Bajaj Existing Customer these
EMI card holder
CIBIL – Healthy CIBIL Score
Common Address Proof
Driving License
Passport
Adhaar Card
Latest Electric City Bill Self Employed
Latest Postpaid landline Age Band - 23 to 65 Years
Rent agreement - 6 Month Old Credit card holder
Purchase agreement Bajaj Existing Customer
Can be any of
EMI card holder
these
CIBIL – Healthy CIBIL Score
Residence Type Banking – Bank Statement
Owned / Rented house.
NO PG/Shared Accommodation
e-NACH eligible banks
Destination Bank
S. No Code Bank Name S. No Code Bank Name
1 KKBK KOTAK MAHINDRA BANK LTD 18 DLXB DHANALAXMI BANK
2 FDRL FEDERAL BANK 19 TMBL TAMILNAD MERCANTILE BANK LTD
3 HDFC HDFC BANK LTD 20 CBIN CENTRAL BANK OF INDIA
4 MAHB BANK OF MAHARASHTRA 21 BARB BANK OF BARODA
5 SBIN STATE BANK OF INDIA 22 IBKL IDBI BANK
6 PUNB PUNJAB NATIONAL BANK 23 IOBA INDIAN OVERSEAS BANK
7 UTIB AXIS BANK 24 PYTM PAYTM PAYMENTS BANK LTD
8 ICIC ICICI BANK LTD 25 CIUB CITY UNION BANK LTD
9 USFB UJJIVAN SMALL FINANCE BANK 26 CNRB CANARA BANK
10 INDB INDUSIND BANK 27 ORBC ORIENTAL BANK OF COMMERCE
11 ESFB EQUITAS SMALL FINANCE BANK 28 COSB THE COSMOS CO-OPERATIVE BANK LTD
12 IDFB IDFC FIRST BANK LTD 29 UBIN UNION BANK OF INDIA
13 DEUT DEUTSCHE BANK AG 30 DCBL DCB BANK LTD
14 ANDB ANDHRA BANK 31 CITI CITI BANK
15 KARB KARNATAKA BANK LTD 32 SIBL SOUTH INDIAN BANK
16 RATN RBL BANK LTD 33 AUBL AU SMALL FINANCE BANK LTD
17 SCBL STANDARD CHARTERED BANK
BFL Process
WhiteHat JR Executive
WhiteHat Jr SM Converts sends the Google Docs
the Lead and pitches BFL Link to the customer to fill
Easy EMI out the basic Details
Case is approved and the
same is intimated to the
Next Slide … Customer & Whitehat Jr
Executive on Slack
Customer Fills the Sheet WhiteHat JR Executive
and submits after which Enters the Customer
the details are uploaded Name (ONLY) on Bajaj-
on Google Sheet EMI Group On Slack
channel
BFL agreement is online BFL Executive do the login
and the consent is taken basis information of
in form of OTP. Login is customer and call the
done customer in case of
discrepancies
BFL Process cont..

For banking – If required, customer is e-agreement is done Customer gives KYC to

e-Mandate link is sent assisted with process of for all cases and BFL and pays DP to
to customer’s mobile e-mandate consent is taken in OTP WhiteHat team
number form

SM shares the case with Accounts Bajaj Executive Uploads all Whitehat Jr SM confirms the
team, and the sales is considered as Documents and Invoice submits DP Receipt and shares invoice
closed, services can be started the file for Quality Check, with BFL Exec on slack DM
confirms to the respective SM
BFL Schemes
Scheme Details EMI Dates
Currently we have 3 Schemes
8 by 2 10 by 2 10 by 1 DO Date - From 1st to 22nd
Total Tenure 8 10 10 2nd of Next Month
Adv EMI 2 2 1
Example 1
Net Tenure 6 8 9 DO Date – 05/05/2020
First EMI Date: 02/06/2020
Down Payment 25% 20% 10%
Do Date - Form 23rd to 31st
Let the customer makes the choice
2nd of Next Month

Example 2
DO Date – 25/05/2020
First EMI Date: 02/07/2020
Learnings so far ..

G A P

• Communication
• Process Understanding
BFL Process
WhiteHat JR Executive
WhiteHat Jr SM Converts sends the Google Docs
the Lead and pitches BFL Link to the customer to fill
Easy EMI out the basic Details
Case is approved and the
same is intimated to the
Next Slide … Customer & Whitehat Jr
Executive on Slack
Customer Fills the Sheet WhiteHat JR Executive
and submits after which Enters the Customer
the details are uploaded Name (ONLY) on Bajaj-
on Google Sheet EMI Group On Slack
channel
BFL agreement is online BFL Executive do the login
and the consent is taken basis information of
in form of OTP. Login is customer and call the
done customer in case of
discrepancies
BFL Process barriers
WhiteHat JR Executive
WhiteHat Jr SM Converts sends the Google Docs
the Lead and pitches BFL Link to the customer to fill
Easy EMI out the basic Details
Case is approved and the
same is intimated to the
Next Slide … Customer & Whitehat Jr
Executive on Slack
Customer Fills the Sheet WhiteHat JR Executive
and submits after which Enters the Customer
the details are uploaded Name (ONLY) on Bajaj-
on Google Sheet EMI Group On Slack
channel
BFL agreement is online BFL Executive do the login
and the consent is taken basis information of
in form of OTP. Login is customer and call the
done customer in case of
discrepancies
BFL Process

For banking – If required, customer is e-agreement is done Customer gives KYC to

e-Mandate link is sent assisted with process of for all cases and BFL and pays DP to
to customer’s mobile e-mandate consent is taken in OTP WhiteHat team
number form

SM shares the case with Accounts Bajaj Executive Uploads all Whitehat Jr SM confirms the
team, and the sales is considered as Documents and Invoice submits DP Receipt and shares invoice
closed, services can be started the file for Quality Check, with BFL Exec on slack DM
confirms to the respective SM
BFL Process barriers

For banking – If required, customer is e-agreement is done Customer gives KYC to

e-Mandate link is sent assisted with process of for all cases and BFL and pays DP to
to customer’s mobile e-mandate consent is taken in OTP WhiteHat team
number form

SM shares the case with Accounts Bajaj Executive Uploads all Whitehat Jr SM confirms the
team, and the sales is considered as Documents and Invoice submits DP Receipt and shares invoice
closed, services can be started the file for Quality Check, with BFL Exec on slack DM
confirms to the respective SM
Myths and Perceptions
These are first-hand feedbacks we received from SMs and TLs

BFL have no online eNach BFL is expensive

We assist customers for their Indeed we are not the cheapest
ease, though we have end to option in market, yet the
end DIY process for eNACH difference is not as it is perceived

Documentation BFL process is lengthy

BFL has the least documentation BFL process is fastest in terms of
required. For 80% cases, we approval as well as
only have used KYC disbursements
Future Plans
Here are what you will experience in BFL process changes

• 12 months and 15 months schemes

• App based approval by SMs directly

• Customer form auto filling process

• Document upload process via link

• Instant EMI Card process