Fibe joins udChalo to offer personal loans to Defence Personnel

By Gloria Mathias

Fibe (formerly EarlySalary), India’s FinTech lender, has announced its partnership with udChalo to offer personal loans to Indian Defence Personnel. Through this tie-up, Fibe will offer its personal loan product, serving personnel via udChalo.

Fibe has launched instant personal loans with exclusive features for defence personnel. Individuals serving in the armed forces can access a higher loan amount of up to Rs. 5 lacs with special interest rate offers.

The firms’ personal loans are auto-decisioned through a proprietary AI/ML-based algorithm. Individuals can borrow and repay at their discretion, with 0 pre-closure charges. It also offers all its financial services to new-to-credit people with minimal paperwork.

Akshay Mehrotra, Co-Founder and CEO of Fibe said, “This partnership is our dedication to serving those who dedicate their lives to safeguard the country. We are committed to offering quick and hassle-free financial solutions that cater to the requirements of those in the armed forces. This partnership further solidifies our promise of driving financial inclusion for India.”

Ravi Kumar, CEO of udChalo said, “This collaboration aims to simplify the lives of our soldiers by offering essential financial support to fulfill their CSD AFD (Against Firm Demand) requirements. Through this joint endeavor, udChalo and Fibe reinforce their commitment to serving those who tirelessly serve our nation, providing accessible and customized financial solutions for our courageous defenders.”

The FinTech platform forays into catering to a varied demographic. It aims to expand its cash business to a diverse customer base and deepen its reach beyond metro cities.

Fibe is a consumer lending FinTech focused on young, aspirational, and tech-savvy Indian consumers. It builds a financial ecosystem that enables the mid-income group to fulfil their aspirations.

udChalo is a Consumer Technology Company for the Indian Armed Forces, Paramilitary Forces and their Dependents, offering Travel, Financial Services, Housing, Consumer Electronics and Utility Bill Payments and is in the process of integrating additional services into its portfolio for Making Life Simpler for Our Soldiers.