New Delhi: To start their loan application, you must submit basic information, such as your PAN (Permanent Account Number), birth date, and employment information.
The 450 million users of the e-commerce site Flipkart now have access to personal loans thanks to a strategic agreement between Axis Bank and the company.
Dheeraj Aneja, Senior Vice President of the Fintech and Payments Group at Flipkart, said, “Through strategic collaborations with leading banking institutions, we have successfully empowered our customers with a wide array of affordable payment options, including Buy Now Pay Later (BNPL), Equated Monthly Instalments (EMI), and Co-branded Credit Cards.”
Customers can anticipate receiving approval in only 30 seconds. They must submit basic information for their loan application, including their PAN (Permanent Account Number), birth date, and employment information. Axis Bank will authorise their loan limit after receiving these facts. Then, considering their comfortable monthly payment capacity, customers can choose their preferred loan amount and payback plan. Before approving the loan application, Flipkart will provide a thorough loan summary, repayment information, and terms and conditions for review.
Customers’ purchasing power will expand thanks to the personal loan option, increasing accessibility and affordability. Flipkart has committed significantly to developing a broad range of credit products and complete financial solutions, including Pay Later, Product Financing, Selling Financing, Credit Cards, and a move into personal loans.
Sameer Shetty, President & Head of Digital Business & Transformation, Axis Bank, said, “In this endeavour, we are pleased to partner with Flipkart to provide unparalleled lending solutions to a wider spectrum of customers offering customised solutions that cater to the specific needs of users.”
