MobiKwik joins forces with Piramal Finance to offer personal loans
By Gloria Mathias
MobiKwik (ONE MOBIKWIK SYSTEMS LIMITED), India’s digital wallet that offers a wide range of payments and financial products to both consumers and merchants, has announced a partnership with Piramal Capital & Housing Finance Ltd., referred to as Piramal Finance.
This partnership aims to provide personal loans to MobiKwik customers, enhancing their access to affordable credit solutions. Through this partnership, MobiKwik users will now be able to seamlessly apply for and access personal loans via the platform.
The offering is designed to cater to individuals’ diverse financial needs, including managing expenses such as funding education, medical expenses, travel expenses, and other consumption purposes. This ease of access to credit is available for all MobiKwik app users in Pan India, with the loan amount for ZIP EMI ranging from INR 50,000 to INR 2,00,000.
Eligibility criteria for these loans include income exceeding INR 25,000 and being between the ages of 23 and 55. The minimum tenure is 6 months, and it can be up to 24 months.
Bipin Preet Singh, Co-Founder and MD of MobiKwik, 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.”
This collaboration aligns with MobiKwik’s vision of driving financial inclusion through digital innovation. Together with partners, the firms aim to make credit more accessible and affordable for customers across India by introducing new and innovative products to the market.
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