Flipkart Partners With Axis Bank To Facilitate Personal Loans For Customers

Bengaluru: India’s leading e-commerce marketplace Flipkart, has partnered with Axis Bank, one of the country’s largest private sector banks, to offer personal loans to its customers. This strategic collaboration aims to provide added convenience and benefits to Flipkart’s 450 million valued customers. The personal loan service introduced by Flipkart offers competitive options, allowing customers to borrow amounts as high as Rs 5 lakhs with flexible repayment cycles ranging from 6 to 36 months.

As the aspirations of Indian consumers evolve, Flipkart and Axis Bank have continuously innovated digital-first solutions to simplify customer journeys. This personal loan facility aims to empower customers by increasing their purchasing power and improving accessibility and affordability. Flipkart has made significant commitments to provide a wide range of credit offerings and comprehensive financial solutions, including Pay Later, Product Financing, Seller Financing, Credit Cards, and now Personal Loans.

Dheeraj Aneja, Senior Vice President of Fintech and Payments Group at Flipkart, expressed delight in introducing the Personal Loan service in partnership with Axis Bank. The focus is to enable credit and enhance purchasing power by granting customers access to liquidity precisely when they need it. These financial solutions cater to the evolving demands of consumers, offering greater flexibility and convenience throughout their purchasing journeys. Flipkart’s commitment lies in reshaping the online shopping landscape, ensuring accessibility and inclusivity for all.

Sameer Shetty, President & Head of Digital Business & Transformation at Axis Bank, emphasized the bank’s commitment to driving access to formal credit in India through innovative partnerships. The collaboration with Flipkart enables the provision of unparalleled lending solutions to a wider spectrum of customers, offering customized solutions that cater to specific needs. Together, they aim to bring forth a new era of convenience and accessibility for customers.

Customers can expect a quick and seamless approval process for their loans, with approvals taking as little as 30 seconds. To initiate their loan application, customers need to provide basic details such as PAN (Permanent Account Number), date of birth, and work details. Axis Bank will then approve their loan limit, and customers can select their preferred loan amount and repayment method based on their monthly repayment capability. Flipkart will provide a comprehensive loan summary, repayment details, and terms and conditions for customers to review before finalizing the loan application.