Digital payments platform MobiKwik has teamed up with Piramal Capital & Housing Finance Ltd to offer personal loans to its users. The collaboration aims to make credit more accessible by allowing customers to apply for and receive loans directly through the MobiKwik app, the company announced in a regulatory filing.
“This partnership with Piramal Finance is a big leap toward meeting the credit needs of millions of Indians. By merging Piramal Finance’s financial expertise with MobiKwik’s user-friendly digital platform, we’re confident in delivering a hassle-free experience for our customers,” said Bipin Preet Singh, Co-Founder and Managing Director of MobiKwik.
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Through this initiative, MobiKwik users across India can now access loans ranging from ₹50,000 to ₹2 lakh under the ZIP EMI feature. To be eligible, applicants must be between 23 and 55 years old, have a monthly income of at least ₹25,000, and can choose repayment tenures between 6 and 24 months.
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This isn’t MobiKwik’s first foray into the lending space—it had already established partnerships with eight other financial institutions to provide personal loans. With the addition of Piramal Finance, the company is doubling down on its mission to simplify credit access for its users across the country.
