Flipkart and Axis Bank to provide personal loans for customers

Flipkart, India’s homegrown e-commerce marketplace, has entered a strategic partnership with Axis Bank, a private sector bank, to facilitate and offer personal loans to its customers. The newly introduced personal loan service offers highly competitive loan options, granting access to amounts as high as INR 5 lakhs, allowing customers flexible repayment cycles ranging from 6 to 36 months. Flipkart’s introduction to personal loans demonstrates its commitment to addressing customers’ demands in today’s financial environment and leveraging the potential of digital lending. Dheeraj Aneja, Senior Vice President – Fintech and Payments Group at Flipkart said, “Through strategic collaborations with leading banking institutions, we have successfully empowered our customers with a wide array of affordable payment options, including Buy Now Pay Later (BNPL), Equated Monthly Installments (EMI), and Co-branded Credit Cards. We are delighted to now introduce a Personal Loan service in partnership with Axis Bank. Our focus is to enable credit and enhance purchasing power by granting access to liquidity precisely when needed. These financial solutions cater to the evolving demands of consumers, offering greater flexibility and convenience throughout their purchasing journeys. Our commitment lies in reshaping the online shopping landscape, ensuring accessibility and inclusivity for all.” Flipkart and Axis Bank have innovated digital-first solutions to simplify the customer’s journey. The personal loan facility will empower customers with increased purchasing power and improve accessibility and affordability. Flipkart has made substantial commitments to create an extensive lineup of credit offerings and comprehensive financial solutions, including Pay Later, Product Financing, Seller Financing, Credit Cards, and an expansion into Personal Loans.

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