Fintech firm FinEzzy aims to disburse Rs 1,500 crore in loans against mutual funds over the next year.
This announcement comes as FinEzzy launches its mobile app, introducing a comprehensive personal finance platform, the company statement said.
Individual investors can now obtain loans against their mutual fund portfolio, eliminating the need to liquidate their holdings and providing a much-needed alternative to meet their financial requirements, it said.
This empowers users to negotiate and secure the most favourable loan terms, creating a transparent and competitive lending environment that puts the power back into the hands of individual investors, it said.
The company claimed that the entire loan process is designed to be seamless, fast, reliable and secure.
By embracing a fully digital approach, users can complete the loan application process in under 15 minutes, eliminating the hassles of paperwork, it said.
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FinEzzy utilises one-time-password (OTP) based consents to securely fetch holdings from Registrar and Transfer Agents (RTAs) and retrieve necessary documents from government repositories for Know Your Customer (KYC) compliance, it added.
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