Now pay monthly rentals with SBI Card on RedGirraffe

SBI Card and London-based financial technology firm RedGirraffe have joined hands to facilitate online rental payments and aim to tap at least one lakh tenants by next March.

The partnership aims to tap into the digital payments market which has gained traction in the country post demonetisation and real estate regulatory law.

RedGirraffe.com has launched a platform RentPay that allows such transactions to be made via credit cards and provides consumers an opportunity to strengthen their credit score and avail of cheaper home loans by up to 1 per cent annually.

With this tie-up, SBI Card, which has about 4 million customers, said it is "redefining" the way rents are paid as this platform provides a "trustworthy payment interface" between landlords and tenants.

The company, a joint venture between State Bank of India and GE Capital, is also offering up to 45 days interest free credit.

RedGirraffe's Founder and CEO Manoj Nair said SBI Card customers can now pay their rentals through their credit card and strengthen their score.

"With a strong credit score they could then avail cheaper loans (as being offered by many banks), by up to 1 per cent per annum," Nair told

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)