Fintech firm and digital wallet major MobiKwik has partnered with Piramal Capital & Housing Finance Ltd to provide personal loans to its customers, the company said in a regulatory filing. Through this partnership, MobiKwik users will now be able to apply for and access personal loans seamlessly through the platform.
“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,” MobiKwik cofounder and MD Bipin Preet Singh MobiKwik said.
Under the partnership, MobiKwik app users pan India will have access to with the loan amount for ZIP EMI ranging from Rs 50,000 to 2 lakh.
ZIP EMI is a personal loan service provided by MobiKwik.
Eligibility criteria for these loans are income exceeding Rs 25,000 and between the ages of 23 and 55 with payment tenure ranging between 6 months to 24 months.
Before Piramal Finance, MobiKwik had eight partnerships in place to offer personal loans.
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