Sachin Bansal’s technology-focused financial services and products company, Navi Group, on Tuesday announced a partnership with Piramal Capital & Housing Finance Ltd. to provide digital personal loans to customers across India.
Reputable financial services provider in India, Piramal Capital & Housing Finance Ltd. is a wholly owned subsidiary of Piramal Enterprises Limited. Hence, through this deal, borrowers can access personal loans on the Navi app up to Rs 20 lakhs with a maximum tenure of 72 months. Additionally, Navi Group will offer a fully digital onboarding process with less paperwork and multiple refund options.
Additionally, Piramal Finance will provide 80% of the loan created under the co-loan agreement, and Navi Finserv, a wholly owned subsidiary of Navi Technologies, will provide the remaining 20% of the financing. With the help of Piramal Finance’s in-house technology and vast reach of over 11,000 PINs in India, this cooperation will increase the potential of Navi’s lending platform. A mutually agreed set of eligibility requirements and credit parameters will be used by Navi to initiate and process personal loans under the terms of the co-loan partnership agreement.
So how can borrowers avail loans on the Navi mobile app? Let’s see the steps below:
On this partnership, Managing Director of Piramal Capital & Housing Finance, Jairam Sridharan, believes this co-loan deal with Navi would give their business a new dimension as it connects them with a partner who is also interested in providing a excellent user experience. With a “Digital at its Core” concept, the Piramal Finance platform provides a quick and easy solution to extend the integration of credit as a microservice into consumer and merchant experiences.