Nucleus Software’s AI Agent Gives Loan Statements a Voice, Wins CII National AI Award

The Loan Statement Finds Its Voice: Nucleus Software's Generative AI agent turns Loan Data into Personalized Videos in 11+ languages, Wins CII National AI Award

Recognised in the 'Most Innovative Practice' category, Nucleus Software's Visual Report Agent uses Generative AI to simplify financial communication, with an estimated 10–15% reduction in customer education costs and a projected 50% improvement in customer experience.

Nucleus Software, a global provider of digital lending and transaction banking solutions, has won the 'Most Innovative Practice' award at the 3rd CII National AI Awards 2026, held in conjunction with the CII Global Artificial Intelligence Summit, for its Generative AI-powered Visual Report Agent, integrated with its flagship digital lending platform, FinnOne Neo®.

Beyond Regulatory Disclosure: Making Financial Information Truly Understandable

India's rapidly expanding digital banking ecosystem serves customers across a vast diversity of languages, geographies and levels of financial literacy. While digitalisation has made accessing financial services easier, understanding complex financial information remains a challenge.

Recognising this broader challenge, Nucleus Software has taken the principle of borrower understanding a step further through its Visual Report Agent, applying Generative AI to simplify ongoing loan communication in customers' preferred languages.

Giving Loan Statements a Voice Through Generative AI

Integrated with FinnOne Neo®, the Visual Report Agent combines Generative AI, neural machine translation and text-to-speech technologies to convert complex loan statements into simple, personalised, narrated video summaries in more than 10 Indian vernacular languages and Arabic.
Built as an API-enabled, zero-touch microservice, the Visual Report Agent can be integrated into existing loan management environments without requiring fundamental changes to customer-facing channels.

• Transforms conventional loan statements into personalised financial explanations
• Aims to strengthen financial inclusion, confidence and engagement
• Helps reduce delinquency

Responsible AI with Tangible Business Potential

Beyond simplifying financial communication, the Visual Report Agent demonstrates how Generative AI can simultaneously support better customer experiences and greater operational efficiency.

• Estimated 10–15% reduction in operational costs associated with customer education
• Projected 50% improvement in overall customer experience
• Safeguards include domain-specific prompt engineering, hallucination controls, continuous monitoring, encryption and customer data isolation

Innovation at the Core: Leadership Perspective

Parag Bhise, CEO & Executive Director, Nucleus Software: “At Nucleus Software, innovation has always been at our core. For over four decades, we have embraced disruptive technologies, from AI to tokenization, to reimagine financial services. In a diverse country like India, our Generative AI-powered Visual Report Agent gives complex loan statements a voice in 10+ Indian vernacular languages and Arabic, making financial information simpler and more accessible, with the potential to reduce customer-education costs by 10–15%. This CII recognition reinforces our commitment to responsible, customer-first innovation and our vision of making financial services access easy and enriching worldwide. For us, true innovation is measured by the difference it makes in people's lives.”

Shaping the Future of Inclusive, AI-Powered Banking

The CII recognition reinforces Nucleus Software's commitment to responsible, purpose-driven AI innovation. As India advances towards greater financial transparency and informed borrowing, the Visual Report Agent goes beyond conventional reporting to make financial communication simpler, personalised and accessible.

About Nucleus Software

Nucleus Software Exports Ltd. is a publicly traded (BSE: 531209, NSE: NUCLEUS), software product company that provides lending and transaction banking products to global financial leaders.

• Delivers disruptive Fintech Solutions to 200+ Banks and Financial Institutions across 50 countries
• Solutions manage over $15 trillion value of yearly transactions
• Lending platform manages $1.2 trillion+ value of loans globally
• Flagship Products: FinnOne Neo® and FinnAxia®
• Recognized by Gartner® and Forrester®

FinnOne Neo®

The next-generation digital lending platform, designed to revolutionize the lending process. Built on advanced technology, empowering financial institutions to streamline operations, enhance customer experiences, and drive growth.

FinnAxia®

An integrated global transaction banking suite, trusted worldwide to optimize transaction banking processes. Enables efficient cash management, trade finance, liquidity management, and more.

Nucleus Software Digital Services

Comprehensive suite of services tailored to assist banks and financial institutions in their digital transformation journey.

Axis Finance Unveils Drishti, Its In-House Digital Rules Engine to Transform Loan Decisioning With Speed and Intelligence

• Configurable digital platform to enhance speed, consistency and data-led decisioning across loan journeys
• Aims to improve turnaround times and strengthen risk oversight across retail and MSME lending

Axis Finance Limited (AFL), one of India’s fast-growing non-banking financial companies (NBFCs), today announced the launch of Axis Finance Drishti, its in-house Business Rules Engine (BRE). The platform is designed to bring greater speed, consistency and intelligence to credit decision-making. In its first phase, Drishti has been rolled out for Personal Loans, Business Loans, Loan Against Property and Disha Home Loans.

Developed as a configurable digital platform, Drishti enables automated and policy-driven credit assessments by combining underwriting workflows with data-led insights and statistical scorecards. The platform incorporates real-time decisioning, dynamic policy implementation and integration with multiple data sources including alternate data to support both straight-through processing (STP) and assisted credit journeys.

The initiative has been introduced in alignment with AFL’s core strategy, ‘Grow the Good’, to strengthen its digital lending & technical capabilities and enhance the overall borrowing experience for customers. It is expected to drive operational excellence by enabling faster, smarter and more scalable credit decisioning, improving efficiency while delivering a more seamless and frictionless loan journey.

With Drishti, AFL aims to bring greater standardization to credit evaluation, thereby enhancing consistency and governance in lending decisions. This marks a key step in Axis Finance’s ongoing focus on leveraging technology and analytics to simplify lending processes while reinforcing disciplined risk management and operational efficiency.

Commenting on the development, Sai Giridhar, MD & CEO, Axis Finance Limited, said, “At Axis Finance, our focus is on building a more agile and analytics enabled lending ecosystem. With the launch of Axis Finance Drishti, we are strengthening our ability to deliver faster, more consistent credit decisions by embedding intelligence, advance analytics and automated credit workflows into our core decisioning frameworks, while maintaining strong governance and risk discipline. As we scale, investments in such capabilities will be critical to enhancing customer experience, improving portfolio quality and supporting sustainable portfolio growth.”

Axis Finance continues to prioritise customer experience through ongoing investments in technology and process improvements. Over the past year, the Company has introduced initiatives such as ABC Scorecards to enhance objectivity in credit assessment and an AI-assisted quality monitoring framework for collection, reinforcing fair and transparent customer interactions. Together, these efforts reflect AFL’s focus on combining analytics, technology and governance to drive more efficient and customer-centric lending journeys.

About Axis Finance Limited

AFL was incorporated in India on 27th April 1995 and is a subsidiary of Axis Bank. It is a non-deposit accepting non-banking finance company (NBFC) regulated by the RBI.

AFL is a diversified, AAA rated NBFC serving Retail, MSME and Corporates with a clear focus on lending to India’s enterprise ecosystem. On the retail front, AFL offers a diversified suite of products including Loans Against Property, Personal Loans, Business Loans, Shakti M-LAP, Disha-HL, Home Loans, Kushal Loans and Vyapar Loans. In the MSME segment, the Company operates through its dedicated Retail Banking Group (RBG), Business Banking Group (BBG), and SME verticals. The corporate portfolio includes Collateralized Lending, Corporate Financing, and Real Estate Funding.

Business Loans to Entrepreneurs Grew Faster Than Those to Commercial Entities Over Three Years

• Individual borrower business-oriented loans balances grew 1.8 times between March 2023 and March 2026, outpacing entity borrower balance growth at 1.5 times.
• Substantial scope for expansion in MSME credit access, with nearly 41% commercial enterprises having formal credit access in entity or individual capacity
• Overall commercial portfolio remained stable at 1.8% as of March 2026. The analysis identified emerging signs of risk in specific borrower segme

India’s commercial credit market is seeing a shift in borrower composition, with individual borrowers with business-oriented loans now forming a meaningful share of overall commercial credit balances, according to the latest MSME Pulse released by TransUnion CIBIL and the Small Industries Development Bank of India (SIDBI).

Loans to individuals accounted for 28% of outstanding commercial balances, while loans to entities accounted for 72%. Individual borrower balances grew 1.8 times during the three-year period between March 2023 and March 2026, compared with 1.5 times growth in entity borrower balances during the same period.

The report finds that outstanding commercial credit stood at ₹65.8 lakh crore as of March 2026, across 4.4 crore active commercial trades. This is a year-over-year (YoY) growth of 14% compared to the total outstanding credit of Rs 57.9 lakh crore as of March 2025.

Chart 1: Individual Business Borrowers Credit Profile

Individual Borrowers Form a Sizeable Business Credit Segment

As of March 2026, 2.8 crore individual borrowers had active business-oriented loans. Of these borrowers, 43% were early-stage as commercial entities with credit history of less than 24 months, highlighting a borrower segment that is active in business-purpose borrowing while still being relatively new as commercial entities. Almost half (48%) the share of the total Non-Banking Financial Companies’ (NBFCs) Commercial Balances pertained to Individual Borrowers. All other lender categories have a much lower share, with private banks the second largest at 24% of the commercial balance share among individual borrowers.

The individual borrower segment has been increasingly visible across key commercial credit products. Loans against property formed the largest share of outstanding balances for this borrower group, followed by commercial vehicle loans and unsecured business loans. At a product level, individual borrowers accounted for 68% of loan against property balances, 76% of commercial vehicle balances and 67% of unsecured business loan balances. The report notes that loans against property, commercial vehicle loans, unsecured business loans, term loans, overdraft and cash credit together formed ~87% of outstanding commercial credit balances.

Bhavesh Jain, MD & CEO, TransUnion CIBIL, said: “In India’s MSME economy, the entrepreneur and the enterprise are often deeply connected, particularly in the early years of business growth. A proprietor may borrow in an individual capacity, but the credit is frequently linked to business activity, working capital needs or asset creation. This makes individual business borrowing an integral part of how commercial credit is evolving, and it deserves to be understood within the broader MSME credit landscape.

 
As MSMEs grow, their credit needs also change, from small-ticket working capital to larger, sector-led funding requirements. The real opportunity for the credit ecosystem lies in understanding this progression with greater clarity, especially as borrowers move from individual business borrowing to entity-level credit, or from trade-led borrowing to manufacturing-led expansion.”

Formal Credit Access Remains a Large Opportunity

The share of new-to-credit (NTC) entities in origination volumes declined from 52% in FY23 to 42% in FY26, indicating that the pace of first-time formal credit onboarding has moderated in recent years. 

Chart 2: NTC Opportunity Sizing

NTC originations among commercial entities were concentrated in smaller ticket sizes. The report finds that 60% of these originations were in the ₹2 lakh to ₹10 lakh ticket-size segment, while 34% were in the ₹10 lakh to ₹2 crore segment. It also notes that 75% of ₹2 lakh to ₹2 crore NTC entity borrowers had prior retail credit experience, showing that first-time entity borrowers may enter formal commercial credit through different borrower pathways.

Emerging Pockets Of Risk in Specific Borrower Segments

While overall commercial credit portfolio performance remained stable as of March 2026, the report indicates elevated delinquency levels in certain borrower and product segments. Delinquency (measured as share of balances in 90+ Days Per Due (DPD) or classified sub-standard) in unsecured business loans to entities stood at 7.2%, up 274 basis points (bps) over three years. The ₹2 lakh to ₹10 lakh entity borrower segment recorded delinquency of 5.6%, up 111 basis points over the same period.

Signs of stress were also seen in early delinquencies (measured as accounts ever in 90+ DPD in first 12 months since origination) as well, for both unsecured business loans to entities and for the ₹2 lakh to ₹10 lakh entity borrower segment. For originations in the March 2025 ending quarter, for unsecured business loans to entities, early delinquencies were 2.9 times higher, while for the ₹2 lakh to ₹10 lakh entity borrower segment, early delinquencies were 2.1 times higher than the overall early delinquency of 3.4% for loans to entities originated in the same period.

Sectoral Patterns Point to Different MSME Credit Structures. 

The report shows that commercial credit patterns vary across sectors by exposure size and geography. Textiles, professional services, wholesale trade and infra-linked industries are led by the ₹10 lakh to ₹2 crore exposure segment. Maharashtra and Gujarat the leading states across key industries such as textiles, food processing. The report identifies manufacturing as a sector with strong concentration in industrial clusters.
Trade showed a different pattern, with retail trade anchored in the ₹2 lakh to ₹10 lakh exposure segment and wholesale trade led by the ₹10 lakh to ₹2 crore segment basis share of entities with live loans. Uttar Pradesh ranked first in both retail and wholesale trade counts, while Uttar Pradesh, and West Bengal appeared among the other leading states. In professional services, the report shows a higher share of entities in small exposure segments of ₹10 lakh to ₹2 crore, with Maharashtra, Karnataka and Tamil Nadu among the leading states.

Mr Jain said: “MSMEs remain central to India’s enterprise base, employment creation and regional economic growth. As more small businesses seek formal credit, it is important to recognise the diversity within the MSME segment. A micro enterprise seeking working capital, a trade borrower operating in a local market and a manufacturing unit looking to scale will have different credit needs, business cycles and growth paths. Expanding formal credit access for MSMEs has to go hand in hand with a deeper understanding of these differences. A more granular view across sectors, ticket sizes and geographies can help the ecosystem serve smaller and emerging enterprises while maintaining a focus on sustainable credit growth.”

About TransUnion CIBIL

India’s pioneer information and insights company, TransUnion CIBIL, makes trust possible by ensuring each person and business entity is reliably represented in the marketplace. We do this by providing an actionable view of consumers and businesses, stewarded with care.

We have developed technology and innovative solutions across core credit, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences, and personal empowerment for millions of people and commercial enterprises in India.

We serve the financial sector as well as commercial enterprises and individual consumers. Our customers in India include banks, credit institutions, NBFCs, housing finance companies, microfinance companies, telecom companies and insurance firms.

For more information visit www.transunioncibil.com

About SIDBI

Since its formation in 1990, SIDBI has been touching the lives of citizens across various strata of society through its integrated, innovative and inclusive approach for all round development of MSMEs. SIDBI has directly or indirectly through various credit and developmental measures impacted the myriad Micro, Small and Medium Enterprises (MSMEs) in the country, whether they are traditional, domestic small entrepreneurs, bottom-of-the-pyramid entrepreneurs, or high-end knowledge-based entrepreneurs.
For more information, please visit: https://www.sidbi.in/

South Indian Bank Launches SIB Power CONSOL, Offering a Single-EMI Solution for Multiple Loan Obligations

South Indian Bank has announced the launch of SIB Power CONSOL, a new loan product designed to support customers reorganize and manage multiple debts more efficiently, with reduced interest rates and unified EMI. Targeted at salaried customers, SEP (Self-Employed Professionals), and SENP (Self-Employed Non-Professionals) between 30 and 55 years of age, the product aims to simplify repayment and reduce the financial burden caused by managing multiple loans at once.

SIB Power CONSOL enables customers to consolidate various loans—including home loans, car loans, education loans, personal loans, and consumer durable loans—into a single loan with a lower interest rate and unified EMI. By doing so, the Bank acts as a Debt Counsellor, offering customers a clearer and more manageable repayment structure. This is a property based loan where the customer can mortgage either house property or commercial buildings and borrow upto 75% of the property value, optimising its worth without disposing it. SIB Power CONSOL is having consolidation options ranging widely from Rs.10.00 lakh to Rs.3.00 Crores.

Under the new product, Individuals can avail of consolidation loans ranging from ₹10 lakh to ₹3 crore, with repayment terms of up to 15 years for consolidated loans and up to 30 years for home loan balance transfers. Once the loan is approved, SIB will directly clear the customer’s outstanding dues, replacing them with a single, manageable monthly repayment aligned with their current financial capacity. Adopting the Repayment Track Record-based lending, SIB Power CONSOL keeps the documentation very minimal. Zero processing fee also adds to its unique features.

This new product highlights SIB's commitment to offering smart financial solutions that cater to individuals' evolving needs. The product also helps reduce the overall financial burden associated with high-interest loans. The lower interest rates on consolidated loans offered by SIB will reduce the financial burden on customers. They will also benefit from the long-term repayment options offered through this service.

For more information on SIB Power CONSOL, visit your nearest South Indian Bank branch or log on to https://www.southindianbank.com/

About South Indian Bank:

South Indian Bank is a Kerala-based private sector Bank with a nationwide presence. The Bank’s shares are listed on the Stock Exchange Mumbai (BSE) and the National Stock Exchange of India Ltd., Mumbai (NSE). South Indian Bank has 948 branches, 5 Ultra Small Branches / Satellite Branches, 1143 ATMs, and 126 CRMs across India and a representative office in Dubai, UAE. For more information, please log on to https://www.southindianbank.com/

Tata Power–Bank of Baroda Pact Unlocks ₹10 Crore Collateral-Free Loans for Solar Projects up to 10 MW

Tata Power Renewable Energy Limited (TPREL), one of India’s leading renewable energy companies and a subsidiary of The Tata Power Company Limited (Tata Power), has signed a Memorandum of Understanding (MoU) with Bank of Baroda, one of India’s premier public sector banks, to facilitate financing solutions for MSME and Commercial & Industrial (C&I) customers opting for solar energy.

Under this partnership, Bank of Baroda will extend financial assistance to borrowers purchasing solar equipment and projects of up to 10 MW capacity through TPREL or its authorized channel partners. This initiative is designed to help MSME and C&I businesses adopt renewable energy with greater ease, reduce operating costs, and contribute to India’s sustainability goals.

The financing scheme offers several key benefits, which include an attractive rate of interest starting from 7.75%, collateral-free loans of up to ₹10 crore CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) coverage, flexible repayment tenure of up to 120 months, pan-India financing coverage, reduced margin requirements (starting from 20%), and concessional processing fees.

As of August 2025, TPREL has successfully completed over 2.49 lakh rooftop solar installations, achieving a cumulative capacity exceeding 3.6 GWp. In the C&I segment, TPREL has catered to a diverse set of customers across various sectors viz - Hospitality, Automotive, Aviation, Education, HVAC, Chemical, Steel, Electronics, and Textiles, among others.

This collaboration underscores TPREL’s commitment to accelerating clean energy adoption across industries and highlights Bank of Baroda’s focus on strengthening green financing to support India’s transition towards a low-carbon economy.

It further reinforces TPREL’s position as a leader in India’s renewable energy journey, contributing to the nation’s target of achieving 500 GW of renewable energy capacity by 2030.

Godrej Finance Partners Muthoot FinCorp to Expand MSME Lending via Property-Backed Loans

• Aims to achieve disbursals of INR 250 crore in FY26.

Godrej Capital, is the financial services arm of Godrej Industries Group. Godrej Capital’s subsidiary, Godrej Finance (GFL), has entered a co-lending partnership with Muthoot FinCorp to enhance credit access for MSMEs in Tier-2 and Tier-3 cities, building on Muthoot FinCorp’s strong presence and deep market reach in these regions.

L to R: Vinod Reddy, CBO – Secured & Unsecured Lending Business, Muthoot FinCorp, Manish Shah, MD & CEO, Godrej Capital, Shaji Varghese, CEO, Muthoot FinCorp, Pankaj Gupta, MD & CEO, Godrej Finance – a subsidiary of Godrej Capital, Shalinee Mimani, CRO, Godrej Capital

The co-lending partnership will offer loan against property ranging from INR 10 lakh to INR 75 lakh, with an average ticket size of INR 15 lakh. With operations spanning pan-India, this offering is well-positioned to tap into markets with strong demand for accessible and timely credit. The partnership will soon be expanded to include other products such as gold loans and housing loans.

Through a seamless digital integration, this partnership will ensure faster approvals, greater transparency, and compliance with RBI’s co-lending framework. Under the terms of the agreement, the company will assume 80% of the risk, with Muthoot FinCorp covering the remaining 20%. Muthoot FinCorp will oversee underwriting, collections, and the customer journey, while the company will ensure regulatory compliance through a jointly defined policy framework.

Manish Shah, MD & CEO of Godrej Capital stated, “Access to timely credit can make all the difference for a growing business, especially in Tier-2 and Tier-3 cities where it is needed the most. With our partnership with Muthoot FinCorp, we aim to bridge this gap for MSMEs by offering simpler, transparent, and faster lending solutions. Our endeavour is to help businesses grow with confidence while contributing to a stronger and more inclusive financial system.”

Shaji Varghese, CEO of Muthoot FinCorp added, “MSMEs are the largest contributor of employment in the country after agriculture but access to credit is a pertinent challenge faced by the sector. With our 3700+ branches and Muthoot FinCorp ONE app, we have expanded our reach to the hinterlands ensuring accessibility to these MSMEs. With our new partnership with Godrej Capital for Loan Against Property offering to the sector, I am sure we will further contribute to the growth of MSMEs by meeting their financial requirements timely and effectively”.

Through its subsidiary GFL, the company offers a diverse range of loan products to meet the varying needs of MSMEs and individual borrowers. These include offers such as Loan Against Property, Udyog Loan Against Property for smaller-ticket requirements, and unsecured Business Loans.

The alliance is targeting disbursals of INR 250 crore in this fiscal year, with a strong focus on high-potential markets across North, South, and Western India. As one of the few co-lending partnerships between NBFCs, it reflects a robust digital-first approach and sets the stage for broader participation in the fast-growing MSME lending space.

Quick Personal Loan vs Traditional Loan: Which Saves More Time?

Time is often more valuable than money, especially when unexpected expenses pop up. From sudden medical bills and urgent home repairs to last-minute travel, there are moments when immediate financial support becomes essential. In such situations, choosing between a quick personal loan and a traditional loan can make a significant difference. While both options provide access to funds, the speed, convenience, and ease of application can vary greatly.

A quick personal loan is designed for fast approval and rapid disbursement of funds, whereas traditional loans typically involve longer processing time and more paperwork. Understanding these differences is crucial to determining which option can truly save you time and efficiently meet your urgent financial needs.

Understanding Quick Personal Loans

A quick personal loan is designed to provide fast access to funds with minimal paperwork. Unlike traditional loans, these loans are often processed digitally, allowing applicants to receive approval within hours or a few business days. Financial institutions and fintech companies have developed these loans to cater to urgent financial needs, providing a convenient solution for borrowers who cannot afford to wait.

The key benefit of a quick personal loan is its streamlined process. Typically, all you need is basic personal and financial information, and sometimes your bank account details for verification. This simplicity translates into faster disbursement of funds, often directly into your account, helping you address your needs without delay.

How Traditional Loans Work

On the other hand, traditional loans follow a more structured and often slower approval process. These loans usually involve a thorough assessment of your creditworthiness, income verification, and other documentation. While this approach ensures a detailed evaluation and potentially lower interest rates, it can take anywhere from a few days to several weeks before funds are released.

The lengthier process can be inconvenient if you are facing urgent financial requirements. Though traditional loans are reliable and often suited for planned expenses, they may not be the best choice when time is of the essence.

Application Process: Speed vs Thoroughness

When comparing a quick personal loan to a traditional loan, the application process is a major differentiator. Quick personal loans often allow you to apply online, eliminating the need to visit a bank branch. Verification and approval are expedited using automated systems, which means you can receive funds within 24-48 hours.

In contrast, traditional loans may require in-person visits, multiple forms, and detailed documentation. While this thoroughness ensures that the lender fully assesses the risk, it significantly increases the waiting period. If your primary goal is speed, a quick personal loan clearly has the edge.

Documentation and Eligibility Requirements

One of the reasons quick personal loans are faster is the simplified documentation process. Most lenders require only a government-issued ID, proof of income, and bank account details. Some fintech lenders even offer instant approval with minimal paperwork, making the process highly efficient.

Traditional loans, however, involve more extensive documentation. In addition to identification and income proof, you may need credit reports, tax returns, employment verification, and collateral documents for secured loans. While this thorough evaluation can result in better loan terms, it significantly delays access to funds.

Approval Time and Fund Disbursement

Time is money, and in financial emergencies, waiting days or weeks can exacerbate stress. A quick personal loan often provides approval in as little as a few hours, with funds transferred within a day. This rapid turnaround makes it an ideal option for urgent needs.

Traditional loans, in contrast, can take weeks for approval and fund disbursement. While they may offer lower interest rates or higher loan amounts, the extended timeline can be inconvenient for borrowers requiring immediate support.

Interest Rates and Cost Considerations

While speed is a major advantage of quick personal loans, it’s essential to consider costs. These loans may have slightly higher interest rates compared to traditional loans due to the expedited process and lower risk assessment time. However, the trade-off is the convenience and time saved.

Traditional loans often provide lower interest rates, particularly for borrowers with good credit scores. But if time is critical, the slightly higher cost of a quick personal loan may be justified, especially when it prevents financial setbacks or late fees on urgent bills.

Flexibility and Convenience

Flexibility is another area where quick personal loans shine. Many lenders offer online applications, digital agreements, and 24/7 access, allowing you to manage your loan from anywhere. This convenience ensures that you don’t have to wait for bank hours or schedule appointments.

Traditional loans, while reliable, often lack this level of convenience. You may need to follow up with bank representatives, submit physical documents, and adhere to strict schedules, which can add to the overall time spent securing funds.

Which Saves More Time?

When it comes to saving time, a quick personal loan stands out against traditional loans. With its simplified application, minimal paperwork, rapid approval, and instant digital disbursement, it’s ideal for urgent financial needs. Traditional loans, though often cheaper and more structured, usually involve longer processing times and are better suited for planned expenses.

In situations where every hour matters, a quick personal loan can help you manage emergencies effectively, avoid late fees, and maintain stability. While cost plays a role, the time and convenience offered often outweigh slightly higher interest rates. The choice ultimately depends on whether you prioritize speed or long-term savings. For those seeking faster solutions, platforms like Olyv make the process smoother than ever.

Poonawalla Fincorp Launches Gold Loan Business, To Open 400 New Branches

• The company plans to strengthen its presence across Tier 2 and Tier 3 cities by opening 400 new branches in a phased approach over the next four quarters

Poonawalla Fincorp Limited (PFL), a Cyrus Poonawalla Group promoted NBFC focused on Consumer & MSME Lending, has expanded its portfolio of secured lending products with the launch of its Gold Loan Business. This new offering provides a secure, fast, and transparent financing solution for individuals and businesses, catering to diverse financial needs such as business expansion, agriculture costs, and personal expenses.

With faster approvals in less than 30 minutes, minimal documentation, and multiple repayment options, customers can unlock the value of their gold without selling it - ensuring financial flexibility while preserving long-term wealth.

Commenting on the launch, Mr. Arvind Kapil, MD & CEO, Poonawalla Fincorp, said, “Our gold loan offering represents a natural progression in our secured lending portfolio, combining traditional value with modern convenience. We have designed this product with the customer journey at its core, respecting both the emotional and financial value of gold. At Poonawalla Fincorp, customer asset safety and transparency remains paramount, while delivering reliable and premium services.”

Gold holds significant importance in Indian households as a reliable source of wealth and security, serving as a strategic asset for those needing quick access to funds. The gold loan market in India represents a substantial opportunity, with projections indicating robust growth over the next several years across both urban and rural markets. Other than being a secured business, gold loan offers the strength of low credit risk and resilience during economic uncertainty. PFL is strategically positioned to capture this growing opportunity through its customer-centric approach and commitment to delivering premium services tailored to borrowers' needs.

To strengthen its presence across Tier 2 and Tier 3 cities with a secured product, PFL plans to open 400 new branches in a phased approach over the next four quarters. The company facilitates loan access through its branches and localized outreach, having onboarded industry professionals to provide tailored financial solutions and enhance customer experiences across regions.

Built on the pillars of trust, transparency in valuation, security, and governance-first, PFL’s Gold Loan offers reliable solutions to address customers' financial needs. The company maintains its risk-first approach to delivering timely financial solutions that bridge the credit gap while empowering customers to retain their precious assets. It remains committed to simplifying lending, creating customer delight, and enhancing experiences, which are the company’s top priorities.

Poonawalla Fincorp Limited is headquartered in Pune and is a Cyrus Poonawalla group promoted non-deposit taking systemically important non-banking finance company (ND-SI-NBFC), registered with the Reserve Bank of India (RBI). The Company started operations nearly three decades back and is listed on the BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE).

The Company’s identity “P” stands for Passion, Principles, Purpose, People and Possibilities. The company has widespread coverage across 18 states and 2 Union Territories and has an AUM of approximately ₹35,550 crore as of March 31, 2025. It employs around 2,560+ people as of December 31, 2024. The company’s financial services offerings include pre-owned car finance, personal loans, loans for professionals, business loans, loans against property, machinery loans, education loans, commercial vehicle loans, and shopkeeper loans.

Chinese-owned Loan Apps' Companies Turn Rs 1 Cr to Rs 6 Cr in 90 Days, Finds ED Investigation

The Enforcement Directorate (ED) recently conducted an investigation into several Chinese-owned fintech companies operating in India. The investigation revealed that these companies were able to turn an investment of Rs 1 crore into Rs 6 crore in just 90 days by offering short-term loans through mobile apps.

These companies charged 30%-40% of the sanctioned loan amount as an upfront processing fee.

Interest rates on these loans were as high as 36%, making the effective annual interest rate reach up to 2,000%, eventually making repayment extremely difficult. This fee is charged every time a borrower takes a loan. These short-term loans are for anywhere between a week to four months.

According to an Indian Express report, the ED Investigation found that the borrowers and their contacts are also sent fake legal notices, messages labelling them as thieves, apart from adding them to Whatsapp groups where abusive messages are sent. Women contacts are harassed with obscene messages.

Borrowers often found themselves in a debt trap, taking new loans to pay off previous ones due to the high costs involved.

Despite the high costs, these companies managed to achieve a net profit margin of Rs 5.2 crore in just three months.

The ED sources said that, although such fintech companies have Indian employees, the ultimate owners are Chinese who take the decisions. In the recent case of PC Financial Services (PCFS) which ran the Cashbean app, ED found that Rs 429 crore was sent to Chinese owners allegedly through bogus transactions which are violations under FEMA.

Earlier this year, the ED conducted raids across 19 locations in Delhi, Chandigarh, Haryana, Punjab, and Gujarat and conducted investigation of several Chinese-owned fintech companies, including Shinebay Technology India Private Limited (STIPL) and Mpurse Services Private Limited (MSPL).

These companies were involved in unethical lending practices through mobile apps, leading to significant penalties and asset seizures. Borrowers were harassed through threatening phone calls, unauthorized access to personal information, and circulation of morphed photographs.

In April 2022, the ED had taken action by attaching assets worth Rs 6.17 crore belonging to these fintech companies. This investigation highlights the need for stricter regulations and oversight in the fintech sector to protect consumers from predatory lending practices.

The ED has initiated investigations under various sections of the Indian Penal Code (IPC) and the Information Technology Act, 2000.

The ED investigation has also found that these Fintech companies get into the lending business after entering into agreements with non-banking finance companies (NBFC) which have valid RBI licences. The NBFCs themselves earn a guaranteed return without investing anything by virtue of just holding the licences.

Key Things to Keep in Mind While Taking a Two-Wheeler Loan

Two-wheelers are a popular choice for many. They offer a convenient and economical way to navigate daily life. A two-wheeler offers freedom for commuting, city traffic, or weekend rides. However, purchasing one often requires financial assistance. This is where a two-wheeler loan becomes essential. Before applying, it's important to consider these key points.

Assess Your Financial Capability

Before applying for a loan, assess your finances. Understand your income, current obligations, and how a new loan will fit into your budget. Avoid overextending your finances. Calculate how much you can repay each month without strain. This is crucial to avoid future financial stress.

Research Loan Options

Many lenders offer two-wheeler loans, each with different interest rates, tenures, and amounts. It's essential to research these options thoroughly. Compare offers and choose the one that fits your needs. Bajaj Markets, by Bajaj Finserv Direct Limited, lets you explore options like the Bajaj Auto Finance Two-wheeler Loan. The platform helps you compare and select the best option.

Understand the Interest Rates

A two-wheeler loan often involves costs beyond the interest rate. These include processing fees, prepayment charges, and late payment fees. It’s important to read the fine print and understand all charges. This helps avoid any surprises later. Bajaj Auto Finance Two-wheeler Loan is available on Bajaj Markets. It clearly outlines all costs, ensuring transparency.

Check Eligibility Criteria

Each lender has specific criteria for two-wheeler loans. These include age,efavoids potential rejections. Bajaj Markets provides detailed information on eligibility for Bajaj Auto Finance Two-wheeler Loan. This helps you determine your chances of approval.

Calculate the Loan Amount and Tenure

Determining the loan amount is crucial. Only borrow what you need, not the maximum offered by the lender. This ensures you don’t take on unnecessary debt. Also, choose a loan tenure that suits your repayment ability. A longer tenure may reduce your EMI but increase overall interest paid. A shorter tenure may lead to higher EMIs but helps you pay off the loan faster. Bajaj Markets offers tools like EMI calculators. These help you calculate the best loan amount and tenure for your situation.

Understand Additional Costs

A two-wheeler loan often involves costs beyond the interest rate. These include processing fees, prepayment charges, and late payment fees. It’s important to read the fine print and understand all charges. This helps avoid any surprises later. Bajaj Auto Finance Two-wheeler Loan is available on Bajaj Markets. It clearly outlines all costs, ensuring transparency.

Check the Documentation Requirements

Lenders require certain documents for processing a loan. These usually include proof of identity, income, residence, and the vehicle’s documents. Having these ready can speed up the approval process. Bajaj Markets provides a checklist of required documents. This includes those needed for the Bajaj Auto Finance Two-wheeler Loan. This helps you prepare in advance.

Read the Loan Agreement Carefully

The loan agreement is a binding document detailing all terms and conditions. It includes details such as the interest rate, EMI amount, and repayment schedule. Clauses affecting the loan during its tenure are also covered. If anything seems unclear, clarification from the lender may be needed. On Bajaj Markets, the agreement for Bajaj Auto Finance Two-wheeler Loan is straightforward and easy to understand.

Consider Prepayment Options

Prepayment allows you to pay off your loan before the tenure ends. Some lenders charge a penalty for prepayment, while others don’t. If you expect extra funds in the future, consider a loan with flexible prepayment options. This reduces your interest burden. Bajaj Markets provides information on prepayment policies for Bajaj Auto Finance Two-wheeler Loan. This allows you to make an informed decision.

Maintain a Good Credit Score

Your credit score is key when applying for a loan. A high score increases your chances of approval and may even get you a lower interest rate. Maintain a good credit score by paying bills on time and keeping your credit use low. Before applying for a loan, check your credit score and improve it if necessary. Bajaj Markets offers tools to check and monitor your credit score. This ensures you’re prepared when applying for Bajaj Auto Finance Two-wheeler Loan.

Conclusion

Taking a two-wheeler loan is a significant decision. It requires careful thought. By keeping these key points in mind, you can ensure a smooth process and avoid pitfalls. Bajaj Markets offers a range of options. Bajaj Markets provides various options, including competitive interest rates and flexible tenures. This financial marketplace by Bajaj Finserv Direct Limited ensures transparency in all terms. Explore Bajaj Auto Finance Two-wheeler Loan on Bajaj Markets. Take a step closer to owning your dream two-wheeler today.

Adani Green Energy Reportedly Seeking Rs 3,333 Crore Loan

Adani Green Energy, a part of Gautam Adani's Adani Group, is actively involved in green energy projects. According to a report by the Economic Times, the company is in advanced talks with Rabobank, MUFG, SMBC, and DBS to secure a massive loan of Rs 3,333 crore. The funds from this loan are intended for capital expenditure.

The loan is likely to be priced at a secured overnight financing rate (SOFR) plus 250 basis points with a five-year tenor.

Additionally, Adani Green Energy plans to invest a total of ₹9,350 crore in its green unit. Half of the warrant proceeds (₹4,675 crore) will be used to repay loans and bonds, while the remaining balance will go towards renewable projects and ongoing expenses.

Furthermore, there are reports that Adani Green Energy is seeking an offshore loan of $400 million for its upcoming renewable projects. The Adani Group as a whole aims to invest about ₹2.3 lakh crore through 2030 in the country's renewable energy expansion and solar and wind manufacturing capacity.

Adani Green Energy plans to significantly expand its renewable energy capacity. This includes increasing the number of solar and wind power projects across India and potentially exploring other clean energy sources.

The involvement of international banks (Rabobank, MUFG, SMBC, and DBS) indicates potential strategic partnerships. These banks may offer expertise, global networks, and access to international markets.

Adani Green Energy has secured several significant loans in the past to support its renewable energy projects. Last year in December, Adani Green Energy obtained a massive $1.4 billion loan to finance the establishment of the world's largest renewable energy park.

Recently, in last month only, Adani Green Energy raised $409 million through an 18-year senior secured green bond. The bond garnered significant investor interest and was oversubscribed seven times. The company used the proceeds from this bond issuance to refinance its existing five-year bullet of $500 million senior secured notes due in 2024.

The successful bond issuance showed signs of investor confidence in Adani Green Energy.

Overall, the loans provided Adani Green Energy with the means to execute their strategic plans, manage debt, and position themselves as a major player in the green energy sector

Smart Borrowing: Tips for Optimizing Your Gold Loan Rate

When faced with financial challenges, leveraging assets like gold can be a strategic move to secure a loan. Gold loans offer quick and hassle-free financing solutions, but it's crucial to optimize your gold loan rate to ensure you get the best deal. Here are some smart borrowing tips to help you make the most of your gold assets.

1. Loan-to-Value Ratio (LTV):

One of the key factors influencing your gold loan rate is the Loan-to-Value ratio. LTV is the percentage of the market value of the gold that a lender is willing to offer as a loan. To optimize your gold loan rate, choose a lender that offers a higher LTV. It ensures you can borrow a larger sum while keeping the interest rate competitive.

2. Compare Interest Rates:

Just like any other loan, interest rates on gold loan at home can vary among lenders. Take the time to compare interest rates from different financial institutions. Look for lenders offering the lowest rates while ensuring they provide reliable and transparent services.

3. Loan Tenure:

The loan tenure also plays a crucial role in determining the overall cost of the gold loan. While short tenures may have higher monthly payments, they usually result in lower total interest payments. Evaluate your financial situation and opt for a loan tenure that aligns with your repayment capabilities, striking a balance between affordable monthly installments and minimizing interest payments.

4. Negotiate Processing Fees:

In addition to interest rates, pay attention to processing fees charged by lenders. These fees can add up and cause an impact on the overall cost of the loan. Negotiate with the lender to minimize or waive processing fees, especially if you have a good credit history or are a loyal customer. Some lenders may be willing to accommodate such requests to attract and retain customers.

5. Maintain Good Credit History:

While gold loans are secured by collateral, having a good credit history can still be advantageous. A positive credit history can help you negotiate better interest rates and terms. Lenders may view you as a lower-risk borrower, allowing you to secure a more favorable deal. Check your credit report and address any issues to maintain a healthy credit score.

6. Choose the Right Repayment Plan:

Lenders typically offer various repayment plans, including fixed and flexible options. Understand the terms of each plan and choose the one that goes with your financial goals. Flexible repayment plans can be particularly useful during times of income fluctuations, allowing you to adjust your payments accordingly.

Conclusion:

Optimizing your gold loan rate involves careful consideration of various factors, from the loan-to-value ratio to interest rates and repayment plans. By being proactive, conducting thorough research, and negotiating effectively, you can make the most of your gold assets and secure a loan that meets your financial needs without unnecessary costs. Remember that informed decisions lead to better financial outcomes, ensuring that your gold loan serves as a valuable resource in times of need.

Mahindra Lifespaces and Axis Bank Partner for Green Homes Loans at 0.25% Less Interest

Mahindra Lifespaces customers can avail loans at 0.25% lower rates for green projects.

Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, today, announced its partnership with Axis Bank, one of the largest private sector banks in India. Through this partnership, all Mahindra Lifespaces customers can now avail home loans at a competitive interest rate, which is 0.25% less than the standard home loan rates. Emphasising on the core values of this collaboration, the loan application and disbursal process will be seamless with reduced paperwork, to minimise paper wastage and ensure efficient document management.

Through this partnership, both the entities aim to encourage customers to choose sustainable housing projects and adopt eco-friendly practices in their day-to-day lives. Mahindra Lifespaces is deeply committed to promoting sustainability, driving positive environmental impact, and enabling customers to craft their lives more meaningfully with its business operations, while delivering value through innovative policies and product designs.

Vimalendra Singh, Chief Business Officer (Residential) - West, Mahindra Lifespace Developers Ltd. said, “We believe our partnership with Axis Bank will incentivise our customers to choose eco-friendly buildings, and reduce their carbon footprint while enjoying favorable interest rates. This also underscores our steadfast commitment to promoting sustainable development. As developers with a 100% green portfolio, and a standing commitment to build only Net-Zero homes from 2030, we fervently advocate environmental responsibility. Both our brands and their unwavering dedication to forging a brighter world for future generations, will deliver enhanced value to our customers.”

Sumit Bali, Group Executive and Head, Retail Banking, said, “With growing awareness, customers have become more conscious about the eco-system and are actively seeking financial solutions to reduce carbon footprint in their day-to-day lives. We are excited to partner with Mahindra Lifespaces, with whom we share a common vision of ushering customers towards an environment friendly lifestyle. By integrating innovative, eco-conscious practices, the two organisations are actively encouraging customers to embrace green homes with loans provided by Axis bank to build their dream abode and, contribute to a greener planet ’’

Axis Bank and Mahindra Lifespaces are fostering responsible home ownership and shaping a future where sustainability and financial choices go hand in hand. This initiative is set to pave the way for a brighter and greener tomorrow, urging customers to make conscious choices that benefit their families and the planet.

About Mahindra Lifespace Developers Ltd.

Established in 1994, Mahindra Lifespace Developers Ltd. (‘Mahindra Lifespaces’) brings the Mahindra Group’s philosophy of ‘Rise’ to India’s real estate and infrastructure industry through thriving residential communities and enabling business ecosystems. The Company’s development footprint spans 34.46 million sq. ft. of completed, ongoing and forthcoming residential projects across seven Indian cities; and over 5000 acres of ongoing and forthcoming projects under development / management at its integrated developments / industrial clusters across four locations.

Mahindra Lifespaces’ development portfolio comprises premium residential projects; value homes under the ‘Mahindra Happinest®’ brand; and integrated cities and industrial clusters under the ‘Mahindra World City’ and ‘Origins by Mahindra’ brands respectively. The Company leverages innovation, thoughtful design, and a deep commitment to sustainability to craft quality life and business growth.

The first real estate company in India to have committed to the global Science Based Targets initiative (SBTi), all Mahindra Lifespaces’ projects are certified environment friendly. With a 100% Green portfolio since 2014, the Company is working towards carbon neutrality by 2040 and actively supports research on green buildings tailored to climatic conditions in India. Mahindra Lifespaces® is the recipient of over 80 awards for its projects and ESG initiatives.

Learn more about Mahindra Lifespaces® at www.mahindralifespaces.com

Arya.ag Launches Agri Loans on Blockchain

Revolutionary Initiative Ensures Accuracy, Trust, and Rapid Loan Disbursement in the Agri-Value Chain.

Arya.ag, India’s largest and only profitable grain commerce platform, has launched agri loans on the blockchain. Warehouse receipt loans disbursed on its fintech arm and NBFC, Aryadhan, shall be processed on its blockchain to offer users absolute trust and transparency.

Arya.ag has tokenised commodities stored in its warehouses, and this development now enables it to board its disbursements on the blockchain.

“Trust and transparency are key values for us at Arya.ag. Porting all disbursements on the blockchain while making payments in under five minutes will mark a significant leap in the efficiency of agri-lending services. The blockchain will ensure unprecedented visibility and assurance to control all physical risks in commodity storage and finance,” said Prasanna Rao, CEO of Arya.ag.

Partnering with 35 financial institutions, including banks and NBFCs, Arya.ag has emerged as a key player, managing 7.6 million tonnes of commodities with an AUM of 3 billion USD in the last financial year. “We look at collaborating with other lenders to move commodity-based warehouse-receipt financing onto the blockchain and improve the overall transparency, speed, and reliability of these transactions," said Rao.

Navigating the agricultural lending landscape presents a fundamental challenge of establishing trust between the lender and borrower. Arya.ag solves for this through its blockchain. Arya.ag stands as the trusted custodian for every token generated, safeguarding against duplicate pledges and ownership conflicts. Upon a pledge, a smart contract initiates, allowing banks to assign a distinct identifier for the token lien. This procedure guarantees the exclusivity of each pledge while offering banks a consolidated view on all pledged commodities.

Moving the lending process to a blockchain would not only expedite transactions but also significantly enhance security and trust among participants. The decentralised nature of blockchain ensures immutable record-keeping, making the data transparent yet secure and virtually tamper-proof, thereby reducing fraud and errors. Additionally, such a move would standardise procedures and documentation, facilitating smoother interactions among various stakeholders in the commodity trading and financing sectors.

Arya.ag collaborated with Newrl, a decentralised trust network blockchain to develop this infrastructure. For now, Arya.ag’s ledger has 3.2 million metric tons of commodities stored across 894 warehouses on the blockchain network. Through this initiative, Arya.ag is creating a world of faster, safer transactions not just for big business but, importantly, for smallholder farmers, too. This technology levels the playing field, giving them quicker, more secure access to the funds they need to thrive.

ABOUT ARYA.AG

Arya.ag, India's largest and fastest-growing integrated grain commerce platform, eliminates the trust deficit in the grain commerce value chain. Its disruptive integrated PAN India platform delivers value to all stakeholders by enabling access to high-quality produce, products, and services. Powered by an exponentially growing layer of visibility and control currently stretching across 425 districts in 21 states, 11000 warehouses, and USD 3 billion of grain, Arya.ag offers the assurance of quality supply to buyers and on-time fair payment for their produce and allied services to sellers. It seamlessly embeds finance to maximise value for both sellers and buyers, and the platform facilitates over USD 1.3 Bn of finance annually. More at www.arya.ag

Scheme To Extend MSME Loans/Credits To Artisans, Craftspeople Launching on Vishwakarma Jayanti

Now Artisans too can avail MSME loans: D. Chandrasekhar, ADC, Ministry of MSME, Govt of India.

PM Vishwakarma Kaushal Samman Scheme will be launched in Hyderabad and Warangal on 17th Sept: MSME Ministry Official

The PM Vishwakarma Kaushal Samman Scheme is expected to revive the rich Indian craft traditions and encourage the artisans to enrich the heritage, said – D. Chandrasekhar, Addl Development Commissioner, Ministry of MSME, Govt of India.

He was the chief guest at the Inauguration of the three-day Industrial & Engg Expo (Indexpo), supported by the MSME Ministry, Government of India with a focus on the future of manufacturing. The expo is currently underway till this Sunday.

Organised by Indore Infoline, it is their 7th edition.

It is supported by the MSME Ministry, NSIC Cherlapally Industries Association and other trade associations.

D. Chandrashekar ADC of MSME (Extreme Ieft in Jacket) Ministry Seen Inaugurating Indexpo

Speaking further the official said the PM Vishwakarma scheme aimed to provide credit to artisans and craftspeople is set to be launched by Prime Minister Narendra Modi in Delhi on the occasion of Vishwakarma Jayanti on September 17. It will be launched in Hyderabad and Warangal in Telangana by various Ministers and officials, he said. 

The scheme will extend loans of up to Rs 1 lakh to artisans at an incredibly low interest rate of 5%. This interest rate is significantly lower than prevailing market rates, enabling artisans to access credit without the burden of exorbitant interest charges.

Nearly three lakh artisans are said to be benefitted across India. In Telangana, a significant number of artisans are said to benefit in Telangana.

MSME has financed 57 exhibitors out of 100 to exhibit their products in the IndExpo. We plan to support 17 exhibitions every year, D. Chandrasekhar said.

Mr Raj Kumar Agrawal, MD of Indore Infoline, the organizer of the expo said IndExpo allows industry professionals and enthusiasts to explore the latest advancements and trends in the manufacturing industry.

The future of industrial engineering is designing and manufacturing more flexible, connected, and adaptable machines, said Mr Raj Kumar Agrawal.

The Indexpo aims to bring together leading players, manufacturers, suppliers’ experts, and innovators from the industrial manufacturing and service sector under one roof.

Industrial Safety Equipment Seen at INDEXPO at Hitex

The event is set to be a hub of knowledge-sharing, networking, and business growth.

100 Exhibitors are showcasing 20,000+ Products like Hand Tools, Machine Tools, Robotics, industrial automation, solar power plants, electricals and electronics, safety products and many other industry-specific products said Rajkumar Agrawal, Managing Director, Indore Infoline Pvt Ltd.

5 Important Features of Flexi Loans You Must Know

People often seek out a flexi loan due to its flexibility, which caters to the financial needs of individuals and businesses. Unlike traditional loans with fixed monthly instalments, a flexi loan allows borrowers to adjust their repayment schedules according to their cash flow and varying financial situations. This feature is valuable during times of economic uncertainty or unexpected expenses.

Borrowers can make extra repayments or withdraw any pre-paid amounts without incurring additional charges, reducing the overall interest burden. Moreover, the ability to pause or reduce payments temporarily, known as a payment holiday, provides added reassurance during periods of financial hardship. This adaptability and freedom to manage repayments according to individual circumstances make flexi loans attractive for those seeking financial stability and control.

A person looking for a flexi loan must know its features. Read on to learn more.

What is a Flexi Loan?

A flexi loan is a personal loan that gives borrowers a predetermined credit limit. Based on your credit profile, the lender offers a pre-approved cash limit as a credit line or overdraft facility. The interest rate for a loan is only charged on the used amount rather than the entire sanctioned amount.

With a flexi loan, you can repay the principal amount at your convenience. However, you are required to clear the interest every month. Moreover, if you have extra funds, you can make prepayments on the loan amount. These loans are available to both salaried and self-employed individuals, who are free to use the funds for various financial needs.

Features of a Flexi Loan

Flexi loans are ideal for individuals seeking a personal loan with a flexible repayment schedule. Here are some key features and advantages of a flexi personal loan:

1. Convenient Fund Access: With a flexi loan, borrowers can withdraw funds within the approved credit limit set by their lender.

2. Adaptable Repayment: Existing flexi loan borrowers can quickly repay the outstanding principal amount when they have surplus funds, according to convenience.

3. Multiple Withdrawals: Borrowers can withdraw within the approved credit limit without additional charges.

4. Reduced Interest Costs: Flexi loans offer an opportunity to save on interest payments. Lenders calculate interest only on the withdrawn amount until it is repaid rather than charging interest on the total sanctioned limit.

5. No Collateral: Compared to the traditional way of getting a loan, getting an online loan is much easier. That being said, there is no need for collateral or security for getting a flexi personal loan.

How to Apply for Flexi Loans?

Applying for a flexi personal loan typically involves several steps, including understanding the eligibility criteria and gathering the necessary documents. Below mentioned are a few points you can follow before applying for a flexi loan:

• Determine your Eligibility Criteria: Each lender has specific eligibility criteria that borrowers must meet. While these criteria may vary, some common factors include:
• Age: Generally, you must be at least 21.
• Income: Lenders often require a minimum income level to ensure you can repay the loan.
• Credit score: Your creditworthiness plays a crucial role in loan approval. Most lenders prefer a good credit score, although some may consider borrowers with lower scores.
• Employment status: Stable employment or a regular source of income is usually required.
• Research and Compare Lenders: Explore different lenders and their flexi loan offerings to find the one that suits your needs. Look for interest rates, loan amounts, repayment terms, and additional fees or charges.
• Gather the Required Documents: The documentation may vary depending on the loan provider. Mentioned below are some common documents required for a flexi loan application:
• Identification documents: Documents like valid government-issued identification, such as a passport or driver's license.
• Proof of income: Pay stubs, bank statements, or income tax returns to demonstrate your financial stability and repayment capacity.
• Employment details: Information about your employer, contact details, and duration of employment are a few details your should provide to your flexi loan provider.
• Address proof: Utility bills, rental agreements, or any other document that verifies your residential address.
• Bank statements: Typically, lenders require your recent bank statements to assess your financial health.
• Existing loan details: If you have any existing loans, you must provide complete information to the lender regarding the loan amount, outstanding balance and repayment history.

Preparing your Loan Application:

• Fill out the application form: Fill out the application form given by the lender, providing your complete and accurate information.
• Provide additional information: Some lenders may require further details, such as references or a personal statement explaining the purpose of the loan.
• Double-check your application: Ensure all the information is accurate and complete before applying.
• Submit Your Application: Through the lender's preferred method, submit your loan application. Be prepared to wait for the lender's decision, as processing your application may take some time.

Conclusion

Flexi loans offer borrowers a versatile and convenient financial solution that adapts to their ever-changing needs. With the flexibility to withdraw and repay funds as needed, you can easily manage your finances and navigate unforeseen expenses or opportunities. The customisable repayment options and interest-only payment periods provide additional flexibility, ensuring that individuals can tailor their loans to suit their needs. Whether for personal or business purposes, flexi loans empower borrowers to take control of their financial journey, making them a valuable tool in today's dynamic and evolving economy.

Flipkart Partners Axis Bank to Facilitate Digitally-enabled Personal Loans for Customers

Joins hands with Axis Bank, its first banking partner, to co-create a digitally-enabled personal loan offering for Flipkart’s customers

Customers can avail instant, end-to-end digital personal loans up to Rs 5 lakhs with loan approval within 30 seconds on Flipkart

The loan purchase option offers a high repayment cycle ranging from a period of 6 to 36 months

Flipkart, India’s homegrown e-commerce marketplace has entered into a strategic partnership with Axis Bank, one of the largest private sector banks, to facilitate personal loans for its valued customers, adding additional convenience and enhanced benefits to its 450 million customers. The newly introduced personal loan service offers highly competitive loan options, granting access to amounts as high as Rs 5 lakhs, allowing customers flexible repayment cycles ranging from 6 to 36 months. Flipkart’s introduction to personal loans demonstrates its commitment to addressing customers’ demands in today's financial environment and leveraging the potential of digital lending.

As Indian consumers continue to evolve, an increasing aspiration exists to enhance their lifestyles. Flipkart and Axis Bank have constantly innovated digital-first solutions to simplify customer journeys. The personal loan facility will empower customers with increased purchasing power and improve accessibility and affordability. Flipkart has made substantial commitments to create an extensive lineup of credit offerings and comprehensive financial solutions, including Pay Later, Product Financing, Seller Financing, Credit Cards, and an expansion into Personal Loans.

Dheeraj Aneja, Senior Vice President - 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 Installments (EMI), and Co-branded Credit Cards. We are delighted to now introduce a Personal Loan service in partnership with Axis Bank. Our focus is to enable credit and enhance purchasing power by granting access to liquidity precisely when needed. These financial solutions cater to the evolving demands of consumers, offering greater flexibility and convenience throughout their purchasing journeys. Our commitment lies in reshaping the online shopping landscape, ensuring accessibility and inclusivity for all."

Speaking on this launch, Sameer Shetty, President & Head – Digital Business & Transformation, Axis Bank, said, "Axis Bank is a full suite financial solutions provider and we continue to build on innovation led partnership models with a commitment to drive access to formal credit in India with offerings that will benefit the customer the most. 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. Together, we are set to bring forth a new era of convenience and accessibility for customers.”

Customers can expect the approval process for their loans to be completed in a mere 30 seconds. To initiate their loan application, they must provide basic details such as PAN (Permanent Account Number), date of birth, and work details. Once these details are provided, Axis Bank will approve their loan limit. Customers can then select their preferred loan amount and repayment method, considering their comfortable monthly repayment capability. Flipkart will present a comprehensive loan summary, repayment details, and terms and conditions for review before finalising the loan application.

The Flipkart Group is one of India's leading digital commerce entities and includes group companies Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+ and Cleartrip.

Started in 2007, Flipkart has enabled millions of consumers, sellers, merchants, and small businesses to be a part of India's digital commerce revolution, with a registered customer base of more than 450 million, offering over 150 million products across 80+ categories. Our efforts to democratize commerce in India, drive access and affordability, delight customers, create lakhs of jobs in the ecosystem, and empower generations of entrepreneurs and MSMEs have inspired us to innovate on many industry firsts. Flipkart is known for pioneering services such as Cash on Delivery, No Cost EMI and easy returns – customer-centric innovations have made online shopping more accessible and affordable for millions of Indians. Together with its group companies, Flipkart is committed to transforming commerce in India through technology.

For more information, please write to media@flipkart.com

Axis Bank is one of the largest private sector banks in India. Axis Bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture, and Retail Businesses. With its 4,903 domestic branches (including extension counters) and 15,953 ATMs across the country as on 31st March 2023, the network of Axis Bank spreads across 2,741 cities and towns, enabling the Bank to reach out to a large cross-section of customers with an array of products and services. The Axis Group includes Axis Mutual Fund, Axis Securities Ltd., Axis Finance, Axis Trustee, Axis Capital, A.TReDS Ltd., Freecharge, Axis Pension Fund and Axis Bank Foundation.

For further information on Axis Bank, please refer to the website: https://www.axisbank.com

Instant Loan Against Mutual Funds Platform Volt Money Raises $1.5 Mn in Pre-Seed Led by Titan Capital and All In Capital

Volt Money, a leading platform for instant secured loans against mutual funds, has announced a pre-seed fundraising round of $1.5 million today. Using Volt Money, mutual fund investors can unlock cash in 10 minutes at favorable terms such as low interest rates, interest-only EMIs & no pre-payment charges. Volt Money is disrupting instant secured loans for 10 crore investors with 40 lakh crore investment to easily meet short-term cash requirements without compromising long-term financial goals.

The fundraising featured participation from numerous renowned investors including Titan Capital, All In Capital, Praveen Jadhav of Raise Ventures, Aditi Kothari of DSP Adiko Holdings, Gemba Capital, Kunal Shah of Cred, & Ashish Kehair & Rahul Jain from Nuvama Wealth. The funding will be strategically used to recruit key personnel for product development and to establish beneficial partnerships.

Lalit Bihani, Co-Founder & CEO of Volt Money, said, "We're at the cusp of disruption of instant secured loans in India. With the advanced digital infrastructures for KYC, account aggregator, and pledging capabilities, we're ideally positioned to seize a unique & very large opportunity. We're grateful for the trust our investors have placed in us."

Highlighting Volt Money's value proposition, Bipin Shah of Titan Capital noted, "Volt Money's innovative approach to offer seamless liquidity against financial savings is an essential service for today's investors. The early traction from customers and partners demonstrates a strong market fit for Volt Money's platform."

The Association of Mutual Funds in India (AMFI) indicates that 55% of mutual fund investments are liquidated within the first two years, robbing investors of the opportunity for compounding returns over time. Volt Money seeks to rectify this by offering attractive loan terms such as low interest rates, interest-only EMIs, and zero prepayment charges.

Volt Money is demonstrating industry leadership with its frictionless digital approach to securing loans against mutual funds. As Praveen Jadhav of Raise Ventures observes, "We recognize the immense potential of Volt Money's mission to empower 10 crore investors to obtain instant secured loans, setting the stage for long-term wealth creation. The experienced founding team at Volt Money brings a strong combination of skills and expertise to spearhead this innovation."

Volt Money's journey began in April 2022, led by Lalit Bihani, Ankit Agarwal and Bharat Lamba, three IIT Delhi graduates who have shared a friendship since 2008. In January 2023, they onboarded Bajaj Finserv Limited, India’s leading NBFC to launch a seamless digital journey for end-end process. Today, the company has successfully served customers across more than 80 cities with loans ranging from Rs. 25,000 to Rs. 2 Crores..

About Volt Money:

Volt Money is a visionary platform transforming the way instant and secured loans are provided against mutual funds and shares. The company collaborates with top-rated lenders and distribution partners to offer customers hassle-free, instant secured loans with favorable terms. Their mission is to empower 10 crore savvy investors to meet short-term cash needs without compromising on long-term goals.

For more information, please visit www.voltmoney.in

Fintech Platform Payworld Disburses Rs. 15+ Cr Loans to SMEs in Last 3 Months

PayWorld, one of Bharat’s leading fintech platforms, which is on a mission to bridge the Digital Financial Divide between India & Bharat facilitated loans worth 15+ Crores to Micro and Small enterprises (SME), in a span of just 3 months. These loans were given to retailers under PayWorld’s new scheme for Business Loans through its partners.

The brand in partnership launched this credit facility to support their retailers in expanding their businesses and strengthening their income. The loans were disbursed to around 3500 retailers associated with PayWorld. Uttar Pradesh, Bihar, Jharkhand, Rajasthan, Haryana, Gujrat, Madhya Pradesh, and West Bengal are among the states where most of the loans were disbursed. Typically, these small merchants find it difficult to secure loans from banks owing to a lack of collateral. Furthermore, transaction time in these cases is often lengthy, negating the benefit of timely disbursements. However, PayWorld was able to provide these merchants the benefit of their association and they could leverage the data and get these loans without any collateral and that too in a timely manner.

Talking about the loan disbursement, Mr. Amit Tyagi, CEO of, PayWorld mentioned, “We at PayWorld are working continuously towards financial inclusion in Bharat, through an array of financial solutions that aim at easing people’s life. With our new partnership-driven Business Loan facility, we are helping retailers who are new to credit or thin file bureau customers, expand their business by providing access to hassle-free loans. Over the years, there has been a surge in digital lending by fintech startups, who are using technology to make the application process completely paperless. With this scheme, PayWorld aims at assisting micro, small, and medium-sized businesses, as well as retailers, with short-term cash flow”.

About PayWorld

Payworld Digital Services Pvt Ltd is focused on bringing financial inclusion and wellness to all the citizens of Bharat. PayWorld is aligned towards building a Digital India by providing an array of online financial services like AePS, Aadhar Pay, Remittances, Recharges, CMS & Digi Gold among others. Incepted in the year 2006 the company has a strong distribution presence in India, with close to 1 million+ banking points spread throughout 720 districts and 28 states.

PayWorld through its wholly owned subsidiary; Smart Payment Solutions Pvt Ltd holds a perpetual PPI license from RBI. Smart Payment is one of the select non-banking entities to have the ability to perform an eKYC from UIDAI. PayWorld aims to drive financial wellness by empowering MSMEs and providing them with easy access to various financial solutions.

LoanTap Collaborates with udChalo to Provide Quick Financial Aid to Defence Personnel

udChalo and LoanTap's partnership simplifies the loan process for serving army personnel

LoanTap, a leading digital lending platform, has announced a collaboration with udChalo to offer quick and accessible financial aid to defence personnel. As part of this partnership, LoanTap will provide flexible loan options to udChalo's customers, with a seamless digital application process requiring minimum documentation of only KYC and income details. Defence personnel, including new-to-credit customers, can apply for loans, provided they meet the minimum eligibility criteria of being at least 19 years old and having a monthly salary of over Rs. 25,000.

udChalo is a leading consumer technology company catering to the armed forces and their dependents. With the vision of ‘Making life simple for soldiers’, udChalo offers travel, housing, financial services, consumer electronics, and utility bill payment facility for its user base. The collaboration with LoanTap is aimed at extending its services by enabling additional financial support to udChalo's customers during emergencies, allowing them and their families to feel more financially secure.

Satyam Kumar, CEO & Cofounder of LoanTap said, "Through our partnership with udChalo, we are excited to support the financial needs of our defence personnel, who have dedicated their lives to serving our country. Our platform's digital and hassle-free loan application process, coupled with flexible loan options, aims to provide financial aid to defence personnel quickly and efficiently. We are honoured to work with udChalo towards our shared goal of making life simpler for our soldiers.”

Commenting on this partnership, Mr. Ravi Kumar, Founder and CEO udChalo said, " udChalo was conceived to serve our soldiers and in our mission to simplify their lives we have been continually introducing more products and services that can support and uplift their daily course. Our collaboration with LoanTap is another step in this direction that allows us to provide easier access to credit to our servicemen. We are certain it will ease their financial woes by providing needful assistance without going through tedious procedures or extra fees.”

By working extensively for the army fraternity udChalo, over the years has created a unique and loyal customer base from the Indian armed forces and dependents of ‘Fauji Family who prefer its services for their requirements. It was one of the leading start-ups honoured with the national start-up Award 2021 and ranked 4th at the Economic Times ET Rise awards among India’s Fastest Growing MSME 2021

LoanTap's seamless digital loan application process and flexible loan options with lower interest rates and processing fees make it an attractive choice for defence personnel in need of quick financial aid. The collaboration with udChalo is expected to bring further benefits to defence personnel and their families, helping them achieve their financial goals with ease.

About LoanTap

LoanTap is one of the fastest-growing & trusted FinTech companies in the category with its in-house RBI-registered NBFC led by experienced leadership and a highly skilled team. LoanTap focuses on customer delight by helping them choose the best loan products from a portfolio of multiple products like personal loans, business loans, home loans, gold loans, loans against mutual funds plus many use-case loans.

LoanTap has had a successful year expanding its distribution and Afterpay network in various sectors. Looking towards the future, LoanTap’s goal is to make credit more accessible to over 4 lakh merchants through their Afterpay network this year. LoanTap plan to achieve this goal by utilizing LTFLoW, their innovative Lendtech platform. LTFLoW allows to establishment a roadmap towards profitable growth while creating a resilient digital lending ecosystem. With its anchor-led distribution stack, a marketplace for capital coverage, and in-house NBFC, users of LTFLoW can continue to create innovative products and expand their reach.

Website Link - https://loantap.in/