Gurugram: Fintech and digital wallet company MobiKwik has partnered with Piramal Capital & Housing Finance Ltd to provide personal loans to its users. The company announced this collaboration in a regulatory filing, highlighting its efforts to address the credit needs of millions of Indians.
The partnership enables MobiKwik app users across India to seamlessly apply for and access personal loans under the ZIP EMI service. Loan amounts will range from Rs. 50,000 to Rs. 2,00,000, with eligibility criteria including a minimum monthly income of Rs. 25,000 and an age range of 23 to 55 years. Payment tenures will vary between six to 24 months.
MobiKwik Co-Founder and Managing Director (MD) Bipin Preet Singh stated that this collaboration represents a significant milestone in expanding the platform’s financial offerings. By combining MobiKwik’s digital reach with Piramal Finance’s expertise, the partnership aims to create a smooth and accessible loan experience for users.
Prior to this collaboration, MobiKwik had partnered with eight other financial institutions to provide personal loans. The inclusion of Piramal Finance in its network is expected to further enhance its ability to meet the credit demands of users across the country.
This move aligns with MobiKwik’s commitment to empowering customers through convenient and innovative financial solutions.
