MSME Digital Loans
Muthoot FinCorp Digital MSME Loan program is designed and developed to offer smaller ticket loans to small merchants, Kirana shop, etc. Under the umbrella of Digital Loan program, the QR-based lending product leverages QR-code transaction histories to offer credit to small business owners who often lack formal financial access despite demonstrating strong cash flows. MFL also helps them grow as their loan repayment is simplified through automated daily deductions/repayments, thereby providing financial flexibility. To cater to this customer segment MFL has partnered with platforms like PhonePe Lending, BharatPe Money and Paytm.
Key Features of QR-based lending Program
Loan ranging between
Rs. 5,000 to Rs. 5,00,000
Rs. 5,000 to Rs. 5,00,000
Short-Term Daily
Repayment Loan
Repayment Loan
Easy Digital
Onboarding
Onboarding
Realtime
Quick Approval
Quick Approval
Self-Service /
Assist Modes
Assist Modes
Digital Loan
Documentation /
Clickwrap
Documentation /
Clickwrap
Interest Rate ranging
between 24% p.a - 36% p.a
between 24% p.a - 36% p.a
Tenure ranging between
3 - 18 Months
3 - 18 Months
Pursuant to the Co-lending guidelines issued by Reserve Bank of India dated November 05, 2020 titled as “Co-Lending by Banks and NBFCs to Priority Sector” (“Co-Lending Guidelines”), Muthoot Fincorp Ltd has entered into Co-lending arrangements with Bank of Maharashtra. Digital MSME product QR –Code Based lending is offered under the said arrangement. Such Co-Lending arrangements /products shall be offered in select locations, as may be mutually decided by the Banks and the Company, from time to time.