Simplifying Personal Loans with Digital Access Through MobiKwik and Poonawalla Fincorp

India's digital financial services have received a boost through a new partnership between One Mobikwik Systems and Poonawalla Fincorp Limited. This collaboration focuses on delivering instant personal loans via the ZIP EMI service, accessible through the MobiKwik app. It merges digital convenience with dependable lending to simplify access to financial assistance.

The partnership is set to empower borrowers across the country by offering a user-friendly application process supported by strong technology infrastructure.

Personal Loans Tailored for Daily Needs

Through this joint offering, users can apply for personal loans ranging from ₹50,000 to ₹15 lakh. These loans are structured to support common financial needs like medical expenses, educational costs, family travel, or urgent repairs. The loan can be repaid over a tenure of 6 to 36 months, based on the borrower’s preference.

This structure is meant to ensure that users can manage their obligations without feeling pressured by high repayments or short timeframes.

A Faster Process for a Growing Digital India

Speed and simplicity are two of the most important aspects of this product. The loan approval process is designed to be quick, with minimal paperwork and digital documentation. Borrowers can apply at any time through their mobile device without visiting a branch or submitting long forms.

This not only saves time but also allows users in smaller towns or rural locations to access financial support without needing physical access to a bank.

Expanding Reach Beyond Urban Centers

A key part of this initiative is its focus on expanding to less-served markets. Poonawalla Fincorp Limited and MobiKwik are targeting users in Tier 2 and Tier 3 cities, which often lack easy access to financial services. Arvind Kapil, Poonawalla Fincorp's CEO and Managing Director has emphasized this initiative as it ensures that people living outside of metro areas can also get approved for personal loans in a secure and digital environment.

By relying on MobiKwik’s reach in these cities and Poonawalla Fincorp Limited’s lending capabilities, the offering is expected to reach a wide audience.

Statements That Reflect the Mission

According to Ankur Jaipuria, who leads MobiKwik’s lending operations, this collaboration is part of a broader effort to make credit more inclusive. He explained that their goal is to give more people access to responsible lending products that support their personal and professional lives.

Vikas Pandey,  the Chief Business Officer for consumer finance and head digital marketing of Poonawalla Fincorp said that this joint initiative helps them reach new customers using MobiKwik’s extensive digital network. He also highlighted that the company continues to follow a cautious and structured credit evaluation approach while simplifying access for users.

A Smarter and More Transparent Loan Experience

What sets this model apart is its digital-first nature. From application to disbursement and repayment tracking, the entire journey happens on the MobiKwik platform. This reduces delays and confusion for borrowers. All key steps such as eligibility checks, updates, and documentation are clearly shown on the app.

This approach gives users better control over their finances and a stress-free borrowing experience.

Built on Strong Foundations

The success of this partnership is supported by the reputations of both organizations. Poonawalla Fincorp Limited is a registered NBFC that offers multiple financial products like personal loans, education loans, loans against property, and more. Meanwhile, MobiKwik has grown into a well-known fintech platform offering payment and credit services to millions of users.

Together, they bring digital expertise and lending strength to create an offering that is credible and easy to access.

Services That Match Consumer Expectations

The ZIP EMI loan is not the only service offered by Poonawalla Fincorp Limited. Their lending portfolio includes pre-owned car finance, loans for self-employed professionals, shopkeeper loans, and even machinery financing. By entering into this digital-first partnership, the company expands its reach to customers who are used to fast and responsive digital tools.

For MobiKwik, this partnership adds greater value to its app ecosystem by offering personal finance features beyond payments.

A Positive Move for India’s Lending Ecosystem

This initiative comes at a time when digital lending is becoming more essential for India's evolving financial environment. With more consumers relying on mobile apps for their daily needs, offering credit through familiar platforms makes the process more efficient.

The partnership aligns with the broader goal of building a digital financial ecosystem that supports real-time access to credit, backed by responsible lending practices.

Conclusion

The partnership between One Mobikwik Systems and Poonawalla Fincorp Limited marks a forward-looking step in making personal loans more accessible and faster for Indian users. It reflects the evolving expectations of consumers who want quick solutions without complex steps. By using technology to streamline lending, the initiative sets a strong example for how finance companies and digital platforms can work together to serve users better.