You can now get loans, credit cards via Vodafone Idea
What's the story
Vodafone Idea has launched a new service called Vi Finance on the Vi App. The initiative, developed in association with Aditya Birla Capital, Upswing Financial Technologies, and Credilio, aims to make personal loans, fixed deposits (FDs), and credit cards more accessible for millions of Indians. The platform is designed to provide a paperless and hassle-free experience for users looking to borrow money or save.
Financial services
Personal loans, fixed deposits marketplace
Vi Finance provides collateral-free personal loans starting at ₹50,000 with interest rates starting from 10.99% per annum. The application process is fully digital and requires minimal documentation and KYC. The platform also has a fixed deposit marketplace where users can start investing with as little as ₹1,000, and earn interest rates of up to 8.4%. All the FDs are insured under the Deposit Insurance and Credit Guarantee Corporation (DICGC), providing coverage of up to ₹5 lakh per bank.
Credit options
Credit cards from leading banks
In association with Credilio, Vi Finance offers a variety of credit cards from leading banks such as SBI, HDFC, as well as Axis Bank. The platform also has FD-backed cards for those with little or no credit history. This feature helps the users build and improve their credit scores over time.
Accessibility
Vi Finance available on Google Play, Apple App Store
Vi Finance is accessible to users across India through the Vi App, which can be downloaded from the Google Play Store and Apple App Store. "We believe this digital-first, paperless approach will simplify how millions of Indians manage finances," said Avneesh Khosla, CMO at Vi.