Fintech firm MobiKwik recently announced a strategic partnership with Piramal Capital & Housing Finance Ltd. (Piramal Finance).
The partnership aims to provide personal loans to MobiKwik customers, enhancing access to affordable credit solutions.
Providing access to personal loans
Through this partnership, MobiKwik users will now be able to apply for and access personal loans seamlessly via the platform.
The company said that the offering is designed to cater to the diverse financial needs of individuals, such as funding education, medical expenses, travel expenses, and other consumption purposes. The offering is available for all MobiKwik app users across India, with the loan amount for ZIP EMI ranging from Rs 50,000 to Rs 2,00,000.
Eligibility criteria for these loans are income exceeding Rs 25,000 and between the ages of 23 and 55. The minimum tenure is 6 months and goes up to 24 months.
Leadership comments
Bipin Preet Singh, Co-Founder and MD of MobiKwik, commented about the partnership, said, “At MobiKwik, we have always strived to empower our customers with innovative financial products. Our partnership with Piramal Finance marks a significant step towards addressing the credit needs of millions of Indians. By combining Piramal Finance’s expertise in financial services with MobiKwik’s digital platform, we are confident of creating a seamless experience for our users.”
Piramal Capital & Housing Finance Limited (Piramal Finance), a wholly owned subsidiary of Piramal Enterprises Limited (flagship company of the Piramal Group), is a Non-Banking Financial Company - Housing Finance Company (NBFC-HFC) engaged in retail and wholesale lending.
In retail lending, Piramal Finance is one of the leading players that address the diverse financing needs of the under-served and unserved people of the ‘Bharat’ market.