PhonePe expands loan offerings with launch of secured lending
Fintech player PhonePe on May 30 launched secured lending products across housing and two-wheeler finance in partnership with NBFC L&T Finance, thus expanding its loan distribution offerings which includes tie ups with Tata Capital, Hero FinCorp and others.
Through the PhonePe app, customers can now access lending solutions for six major categories – Mutual Fund Loan, Gold Loan, Two-wheeler Loan, Car Loan, Home Loan/Loan against Property and Education Loan.
PhonePe said it has partnered with top lenders like Tata Capital, L&T Finance, Hero FinCorp, and ‘more lender tie ups will be added in coming weeks’.
The latest collaboration with L&T Finance will offer “Housing and Two-wheeler loans to our users through our newly launched Secured lending platform on the PhonePe app”, the fintech player said. PhonePe said it aims to leverage its distribution strength of 535+ million registered users to create a seamless user experience in the secured loans category.