Fintech company MobiKwik has joined hands with Piramal Capital & Housing Finance Ltd. (Piramal Finance) to provide personal loans to its users. This collaboration aims to make credit more accessible and affordable for millions of Indians, offering financial solutions to meet diverse needs.
MobiKwik users can now apply for personal loans directly through the platform, ensuring a smooth and hassle-free experience. These loans cater to various financial requirements, such as education, medical expenses, travel, and other personal consumption needs. Loan amounts range from Rs 50,000 to Rs 2,00,000 under the ZIP EMI scheme, making it a flexible option for users.
Eligibility and Loan Details
To qualify for these loans, applicants must have a monthly income exceeding Rs 25,000 and fall within the age bracket of 23 to 55 years. The repayment tenure is flexible, ranging from 6 months to 24 months. This feature ensures that individuals can choose repayment terms based on their financial capabilities.
Bipin Preet Singh, Co-Founder and Managing Director of MobiKwik, expressed enthusiasm about the partnership, stating, “At MobiKwik, we aim to empower our customers with innovative financial products. Our collaboration with Piramal Finance is a step forward in meeting the credit needs of millions of Indians. By combining Piramal Finance’s expertise with our digital platform, we are creating a seamless experience for our users.”
Piramal Finance, a subsidiary of Piramal Enterprises Limited, is a Non-Banking Financial Company – Housing Finance Company (NBFC-HFC). It specializes in retail and wholesale lending, addressing the financial needs of underserved and unserved populations in India’s Bharat market.
Driving Financial Inclusion in India
This partnership aligns with the broader goal of promoting financial inclusion across the country. By integrating Piramal Finance’s lending expertise with MobiKwik’s user-friendly platform, the collaboration is set to empower individuals with quick and reliable access to credit.
With the increasing demand for digital financial services, this partnership is expected to play a significant role in expanding financial opportunities for people across India. Whether it’s funding an education, covering unexpected medical bills, or planning a family vacation, the MobiKwik-Piramal Finance partnership is here to provide the necessary support.
