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Digital funds platform PhonePe on Wednesday stated that it has seen over 150 per cent development in mortgage EMI repayments class on its platform since March this 12 months. The mortgage EMI compensation class gives customers with the comfort of constructing repayments at will or by organising an auto-debit on a specified date.
PhonePe presently has over 60 lenders built-in into its platform, together with suppliers of microfinance, housing loans, client sturdy loans and quick time period liquidity loans, amongst others. “The loan providers find our platform attractive given our user base of 200+ million across the country and seamless technology integration at the backend,” Ankit Gaur, Head of Online Business, In-app Categories & Switch BD, PhonePe, stated in a press release.
“We are actively working to expand our lender base to over 100 by the end of this year to cater to a larger number of users across the country,” PhonePe stated it has already tied up with a few of the nation’s largest personal non-banking lenders equivalent to Bajaj Finance, Home Credit, Muthoot, DMI Finance, HeroFinCorp, Tata Capital amongst others.
“We have enabled the easy discovery of lenders with instant access to large players like Home Credit, Bajaj Finance, etc. We have kept the process user-friendly with just four steps to facilitate friction-free payments,” Gaur stated. “We also don’t charge anything extra to our users for making the loan repayment using our platform.”
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