Widening Access to Quick Loans Across India with MobiKwik and Poonawalla Fincorp Limited

The way individuals apply for personal loans is changing rapidly in India, and a new collaboration is helping shape that shift. One Mobikwik Systems has partnered with Poonawalla Fincorp Limited, one of India’s recognized NBFCs, to bring quick personal loans directly to smartphone users. These loans are now available through MobiKwik’s ZIP EMI platform, designed for quick approval and minimal formalities.

This collaboration allows for a simplified process that connects eligible users to the funds they need, all without a physical visit to any branch.

Designed to Support Real-Life Financial Needs

Poonawalla Fincorp Limited

Personal loans offered through this partnership range from ₹50,000 up to ₹15 lakh. Borrowers can repay these over periods stretching from 6 months to 36 months, depending on their comfort and the size of the loan. These loans can be used for a range of purposes — from covering school or college fees to funding medical treatment, travel, or essential purchases.

The flexibility in usage and repayment makes this offering more practical for everyday users.

Focus on User Convenience and Digital Speed

One of the standout features of this offering is how easy it is to access. With just a few taps on the MobiKwik app, users can apply for a loan any time — day or night. There is no need for multiple physical documents or a long waiting period. The process is fully digital and designed for instant responses.

This method is especially useful for those who need fast approvals during emergencies or time-sensitive situations.

Reaching New Users in Non-Metro Regions

Arvind Kapil - Managing Director and Poonawalla Fincorp CEO

While metro cities often have many credit options, users in smaller cities still face challenges. This partnership is emphasized by the Managing Director and Poonawalla Fincorp CEO, Arvind Kapil as it targets Tier 2 and Tier 3 towns and aims to bring easy lending services to people who often don’t have access to organized credit. With MobiKwik’s strong user base in these areas and Poonawalla Fincorp Limited’s expertise in lending, the partnership is expected to create a wider impact.

More people from underbanked regions can now manage their needs with the help of timely financial support.

Leadership Emphasizes Financial Inclusion

Ankur Jaipuria, who heads the lending division at MobiKwik, said that their goal is to make credit reach more people across the country. According to him, this partnership supports the broader mission of reducing barriers and enabling fast, safe borrowing for the average user.

Vikas Pandey, the Chief Business Officer for consumer finance and head digital marketing of Poonawalla Fincorp, said that this collaboration supports their customer-first approach. He mentioned that digital integration with MobiKwik aligns well with their structured and responsible lending model and helps deliver services to a new segment of users.

A Full-Service Digital Journey

Everything from applying for the loan to checking approval status and making repayments is handled within the MobiKwik platform. The app allows users to track their loan journey without needing to speak to agents or visit offices. All updates and interactions happen in one place.

The system is built to keep users informed and in control of their financial commitments without unnecessary steps.

Trusted Partners in the Financial Sector

This new offering is supported by the credibility of two established players. Poonawalla Fincorp Limited is a non-deposit-taking NBFC registered with the Reserve Bank of India and known for a broad range of lending solutions. MobiKwik, on the other hand, has been serving users through digital wallets, payments, and financial products.

Together, they are bringing a secure loan product that offers the speed of a fintech app and the reliability of a licensed financial institution.

Adding to an Existing Product Portfolio

While the ZIP EMI feature focuses on personal loans, Poonawalla Fincorp Limited already has a strong presence in other lending areas. These include loans for professionals, pre-owned car finance, loans against property, and working capital loans. The partnership with MobiKwik helps the company add a digital layer to its operations, especially in the personal loan segment.

MobiKwik also benefits by expanding its financial services offerings, moving beyond payments and into more personalized credit solutions.

Changing the Lending Model with Technology

This model of combining tech with financial services is gradually becoming more popular in India. Users today prefer fast access, transparency, and minimal manual steps. This partnership taps into that preference by delivering a loan service built entirely on digital systems, supported by experienced teams.

It sets an example for how financial companies can adapt to consumer behavior using existing digital platforms.

Conclusion

This partnership between MobiKwik and Poonawalla Fincorp Limited offers more than just quick loans. It reflects a new era of credit access that is faster, simpler, and better suited to modern lifestyles. With digital approvals, easy tracking, and regional expansion, the offering stands out as a solution that supports real financial empowerment.

As more users in semi-urban areas and smaller cities adopt fintech apps, collaborations like this will be essential in building inclusive financial services for all.