One MobiKwik and Poonawalla Fincorp Join Hands to Offer Instant Personal Loans

Published: 2025-04-21 01:49:00 ET MOBIKWIK.NS

One MobiKwik Systems Ltd. announced a strategic partnership with Poonawalla Fincorp, a Cyrus Poonawalla Group promoted NBFC arm focused on Consumer & MSME to offer instant personal loans. This collaboration aims to democratize quick access to credit for millions of Indians through MobiKwik's ZIP EMI product. The partnership enables MobiKwik app users pan India to access instant personal loans ranging from INR 50,000 to INR 15,00,000 through ZIP EMI.

The loans are designed to meet various financial needs such as funding education, medical expenses, travel expenses, and other consumption purposes. Users can choose flexible repayment options ranging from 6 to 36 months. With minimal documentation requirements and a rapid approval process, the loan is available at any time of the day, further enhancing the convenience and speed that have been hallmarks of MobiKwik's services.

This initiative marks a significant step towards adopting a distribution model and expanding services to a wider audience. Another advantage of this offering is that it helps users enhance their credit scores. By making timely loan repayments, borrowers can establish or improve their credit history and become eligible for higher loan amounts.

Through this partnership, MobiKwik will offer loans via its app to borrowers across diverse income segments in Tier 2, Tier 3 cities, and beyond. Poonawalla Fincorpor will serve as the lender, while MobiKwik will act as the facilitator of the loan product, leveraging its tech platform to connect borrowers with much-needed credit.