Digital India idea takes a new leap as Muthoot Microfin launches digital-first Suvidha Loan. Details here
The ease of doling out digital loans has reached a new high with Muthoot Microfin launching instant loans to empower customers with quick access to funds. Termed “Suvidha Loan”, it enables customers to obtain a loan amount ranging between ₹10,000 and ₹30,000 within a 30-minute timeframe following the loan application. This service is accessible through the Mahila Mitra App, the company’s comprehensive mobile application platform for customers.
Currently, 13 lakh customers of the company utilize the Mahila Mitra app to service their loans and avail digital services. Muthoot Microfin reported 34 per cent of its loan repayments were facilitated through digital means this year, which were incentivized through payback schemes.