HT Bureau
Guwahati, July 7: Flipkart, the leading Indian e-commerce marketplace, has joined forces with Axis Bank, a prominent private sector bank, in a strategic partnership aimed at providing personal loans to its esteemed customer base. This collaboration aims to enhance convenience and offer added benefits to Flipkart’s massive customer network of 450 million individuals. The introduction of personal loan services by Flipkart signifies its dedication to meeting the financial demands of customers in today’s world while capitalising on the potential of digital lending.
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The newly introduced personal loan service by Flipkart offers highly competitive loan options, granting customers access to loan amounts as high as Rs 5 lakhs. What sets this service apart is the flexibility it provides in terms of repayment cycles, ranging from 6 to 36 months. This innovative initiative reflects Flipkart’s commitment to simplifying customer experiences by constantly devising digital-first solutions in collaboration with Axis Bank. The personal loan facility aims to empower customers by increasing their purchasing power and improving accessibility and affordability.
Dheeraj Aneja, senior vice president – Fintech and Payments Group at Flipkart, expressed his excitement about the partnership, stating, “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 Instalments (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. Our commitment lies in reshaping the online shopping landscape, ensuring accessibility and inclusivity for all.”
Sameer Shetty, president & head – Digital Business & Transformation at Axis Bank, also commented on the launch, highlighting the bank’s dedication to providing comprehensive financial solutions and promoting innovation through partnerships. Shetty stated, “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. Our offerings aim to 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.”
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. Our commitment lies in reshaping the online shopping landscape, ensuring accessibility and inclusivity for all.”
Sameer Shetty, president & head – Digital Business & Transformation at Axis Bank, also commented on the launch, highlighting the bank’s dedication to providing comprehensive financial solutions and promoting innovation through partnerships. Shetty stated, “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. Our offerings aim to 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.”
