Reliance Money, PayU Teams Up to Offer Personal Loans Up to Rs.1,00,000 to Users Via LazyPay

0
7
Reliance Money, PayU Teams Up to Offer Personal Loans Up to Rs.1,00,000 to Users Via LazyPay

Download Android App NOW My Jio xyz google android app  Reliance Money, PayU Teams Up to Offer Personal Loans Up to Rs.1,00,000 to Users Via LazyPay MyJioxyz google play logo

PayU India has now partnered with Reliance Money to offer instant app-based personal loans to hundreds of consumers in India. These personal loans will be offered through its LazyPay app, which was seemingly become pretty popular among Indian netizens ever since its launch a few months back.

LazyPay currently has over 500 thousand downloads on the Play Store. It is engaged in the business of providing ‘Pay Later’ facility to its consumers for online shopping, movie tickets booking, food ordering and much more. Basically, it provides instant credit to its users without checking much of your background. The credit, however, unlike loan needs to paid off within a span of few days, most often by the end of the month. Now LazyPay’s parent firm PayU India has gone into a financial partnership with Reliance Money wherein the latter will provide loans to the former’s customers directly through the app. The latest move will further help in increasing LazyPay’s exponentially growing business in India. Earlier in May, LazyPay had announced its entry into the consumer electronics space by partnering with leading electronics brands like Samsung Electronics and Croma Retail.

LazyPay Reliance Money Partnership: What is the Maximum Amount and Duration of the Loan?

The latest partnership between PayU India and Reliance Money will allow LazyPay users to easily avail small to microloans through the app. The loan amounts will start from as low as Rs 100 and range up to Rs 1,00,000. The duration of these loans can vary anywhere between 15 days to 24 months. With that said, the loan duration would directly depend on the creditworthiness of the individual. Reliance Money apparently, would be checking the creditworthiness of the consumers.

Reliance Money had been involved in the business of providing personal loans to the consumers for a pretty long time, however, it’s for the first time these loans can be taken so easily and that too digitally. As of March 2018, Reliance Money has an outstanding loan book of Rs 13,674 crore. It has over 51,400 lenders, who are currently spread across 39 Indian cities.

LazyPay Reliance Money Partnership: Who Can Avail These Loans?

With the partnership between Reliance Money and LazyPay’s parent firm PayU India in place, consumers residing in top 10 Indian cities including metro cities and tier-II cities like Ahmedabad, Jaipur, Hyderabad, Bangalore, Chandigarh, Lucknow can avail easy personal loans through the app. These loans will be linked directly with the customer’s primary bank account. Reliance Money is, in fact, in talks to seek direct debit facility on customer’s account for repayment of loans. Additionally, both the Companies plan to extend the credit facility to over 110 locations by the end third quarter of this year.

“The tie-up helps Reliance Money to move ahead in its financial inclusion effort of “go-retail” by reaching out to underserved customers with innovative financial solutions. Any increase in PayU India’s client base will directly and positively impact our bottom-line,” said Devang Mody, Executive Director and CEO of Reliance Money.

LazyPay Reliance Money Partnership: What All Documents Do I Need for These Loans?

With that said, neither Reliance Money and nor PayU India has revealed details regarding the process of claiming this loans via the app. Moreover, we still don’t know what all documents will be required to availing the service. Furthermore, Reliance Money hasn’t also cleared the air regarding the rate of interest they would be charging from the consumers for these loans. So far, it seems that the current rate of interest while borrowing money offline from Reliance would be applicable on the LazyPay app. Nonetheless, the fact that consumers across Indian can avail loans simply at the click of a button is a pretty appealing thing in itself. Just in case, it

Buying options

window.fbAsyncInit = function() {

FB.init({
appId : ‘120686348620393’,
xfbml : true,
version : ‘v2.10’
});
FB.AppEvents.logPageView();
};

(function(d, s, id){

var js, fjs = d.getElementsByTagName(s)[0];

if (d.getElementById(id)) {return;}

js = d.createElement(s); js.id = id;

js.src = “https://connect.facebook.net/en_US/sdk.js”;

fjs.parentNode.insertBefore(js, fjs);

}(document, ‘script’, ‘facebook-jssdk’));

jQuery(document).ready(function($){
/*
$_topBtn = ‘

Save Money while Shopping Online

Install our Extension

‘;
*/
//$_topBtn = ‘

‘;

//$(“.inner-header”).append($_topBtn);

$_bottomBtn = ‘

Get our chrome extension to save money while shopping

Install Extension

‘;

$(“.clear-footer”).before($_bottomBtn);
(function priceTableCollapse(){
var numRows = $(“.prc-tbl”).find(“.prc-tbl__row”).length;

if(numRows > 4){
$(“.prc-tbl”).find(“.prc-tbl__row”).slice(4).slideUp();
$(“.prc-tbl”).append(“

Show More

“);
$(document).on(“click”,”.js-more-prc-tbl-row”, function(){
$(this).hide();
$(this).parents(“.prc-tbl”).find(“.prc-tbl__row”).slideDown();
});
}
})();
/*
(function AuthBoxClipping(){
$authBox = $(“.td-author-description p”);

if($authBox.length){
if($authBox.outerHeight() > 65){
$authBox.addClass(“clipped-desc”);

$authBox.after($moreButton);

$(document).on(“click”, “.js-auth-read-more”, function(){
$authBox.removeClass(“clipped-desc”);
$(this).remove();
});
}
}
})();
*/

});

Download Android App NOW My Jio xyz google android app  Reliance Money, PayU Teams Up to Offer Personal Loans Up to Rs.1,00,000 to Users Via LazyPay MyJioxyz google play logo