Navi Group, has tied-up with Piramal Capital & Housing Finance to offer Digital Personal loans to customers across India.
Borrowers can avail personal loans up to Rs 20 lakh with a tenure of up to 72 months on Navi app.
Under the co-lending partnership agreement, Navi will originate and process the personal loans based on mutually aligned credit parameters and eligibility criteria. Piramal Finance will fund 80% of the loan generated by the co-lending arrangement while the remaining 20% will be funded by Navi Finserv (NBFC, wholly owned subsidiary of Navi Technologies).
Sachin Bansal, CEO and Chairman at Navi Technologies, said, “Our partnership with Piramal Finance will give further impetus to scale our lending business with the same superior customer experience of Navi. This partnership sets a compelling example for the industry to follow. Further, we have launched Navi Lending Cloud – our co-lending and direct assignment platform to give seamless digital experience to our partners. This will take us one step closer to our mission of making financial services affordable and accessible to 1 bn Indians.”
Jairam Sridharan, Managing Director, Piramal Capital & Housing Finance Ltd., said, “We are pleased to partner with Navi to offer Digital personal loans in 5 steps to customers. It has been our endeavor to serve customers with the most hassle-free user experience enabled by digital journeys. This Co-Lending partnership with Navi adds a new dimension to our business as it brings us together with a partner that is equally obsessed with great user experience.”