The Busy Brains
10 Jul 2023
Flipkart has joined forces with Axis Bank to provide personal loans to its customers. The collaboration aims to offer competitive loan options, granting access to loan amounts of up to Rs 5 lakhs, as part of Flipkart's commitment to comprehensive financial solutions.
Flipkart, the leading ecommerce giant in India, has announced its partnership with Axis Bank, a prominent private sector bank, to introduce personal loan services for its customers. The newly launched service aims to provide competitive loan options, allowing customers to access loan amounts as high as Rs 5 lakhs.
Flipkart has been actively expanding its range of financial solutions and credit options. Alongside services like Pay Later, Product Financing, Seller Financing, and Credit Cards, the company is now venturing into the realm of Personal Loans. This strategic collaboration with Axis Bank strengthens Flipkart's commitment to offering a wide range of affordable payment options and comprehensive financial solutions.
Dheeraj Aneja, Senior Vice President - Fintech and Payments Group at Flipkart, emphasized the company's dedication to empowering customers with flexible credit options. Through partnerships with leading banking institutions, Flipkart aims to provide greater purchasing power and access to liquidity precisely when needed. The introduction of Personal Loans adds to the evolving demands of consumers, offering convenience and flexibility throughout their purchasing journeys.
Sameer Shetty, President & Head – Digital Business & Transformation at Axis Bank, highlighted the bank's focus on innovation-led partnership models and expanding access to formal credit in India. The collaboration with Flipkart allows Axis Bank to offer unparalleled lending solutions to a wider spectrum of customers. The goal is to provide customized solutions tailored to the specific needs of users, ensuring a seamless and beneficial borrowing experience.