FinEzzy aims to disburse Rs 1,500 cr in loans against mutual funds

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FinTech company FinEzzy aims to disburse Rs 1,500 crore in loans against mutual funds over the next year.

The announcement came as FinEzzy is launching its mobile app, offering a comprehensive personal finance platform, the company said in a statement.

She added that 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 meeting their financial requirements.

This, she said, enables users to negotiate and secure the most favorable loan terms, creating a transparent and competitive lending environment that puts power back in the hands of retail investors.

The company claimed that the entire loan process is designed to be smooth, fast, reliable and secure.

By adopting an entirely digital approach, she said, users can complete the loan application process in less than 15 minutes, eliminating the hassle of paperwork.

FinEzzy uses one-time-password (OTP)-based approvals to securely fetches holdings from registrar and transfer agents (RTAs) and retrieves necessary documents from government repositories for Know Your Customer (KYC) compliance.

(Only the title and image for this report may have been reworked by the Business Standard team; the rest of the content is generated automatically from a shared feed.)

First published: June 12, 2023 | 11:17 p.m ist