Understanding PL Prime Digital 24x7 Loan by Poonawalla Fincorp Limited

Poonawalla Fincorp Limited recently launched their PL Prime Digital 24x7 loan. It’s the industry-first loan that is tailored to meet the needs of salaried customers. The loan can be availed digitally, making it the go-to option for those seeking quick and convenient financial solutions. 

Paperless Access to Credit

The traditional loan process is often time-consuming, as there are many complex documentation processes and formalities. It also requires collateral to be secured. The PL Prime Digital 24x7 loan, on the other hand, can be availed in 15 minutes through a completely paperless transaction. Additionally, there is also an option to choose longer EMI tenure based on the customer’s need. One of the key highlights of the announcement was the zero collateral requirement. In the words of Poonawalla Fincorp’s CEO Arvind Kapil, “We have extensive experience in unsecured lending, with low delinquency rates among top white-collar professionals.” He believes that this loan will help the company diversify its portfolio and attract high-quality borrowers. By launching this instant loan process, the company will simplify the lending process and enhance the customer experience.

Making Loans Seamless, Efficient, and Reliable

Commenting on the launch of PL Prime Digital 24x7 loan, CEO and MD, Arvind Kapil said, “Access to credit should be seamless, efficient, and tailored to the fast-moving lives of professionals. Whether it’s an urgent financial requirement or a planned expense, PL Prime Digital 24x7 is an absolute industry-first solution for prime customers”. This loan will enable salaried customers to avail of the loan instantly without the need to visit the loan office. The 24/7 availability of these loans allows the customers to apply as the need arises, without the need to worry about collaterals. Arvind Kapil thinks that this move is a great step towards digitalizing the lending sector.

Paving the Way with a Risk-First Approach

The company has a comprehensive risk calibration process that helps it determine pricing. This process enables them to securely fulfill the rising expectations of the credit market while approaching new opportunities present in it. The PL Prime Digital 24x7 loan is launched for salaried borrowers and will be extended to self-employed customers in a few months. Salaried borrowers can avail of this loan on Poonawalla Fincorp’s mobile app, website, and with authorized partners.