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MobiKwik's 'Boost' to offer instant loan in 90 seconds

MobiKwik announced the debut of 'Boost,' a game-changing tool that provides MobiKwik consumers with rapid loan approval and disbursement.


This is the first-of-its-kind credit disbursal offering, with loans of up to Rs 60,000 being approved and issued in under 90 seconds. To provide this service to its subscribers, MobiKwik has partnered with a number of NBFCs. MobiKwik is the first wallet service provider to deposit loan funds into a user's mobile wallet.




'Boost' provides loans without the need for any paperwork or collateral. MobiKwik has created a unique risk rating methodology dubbed 'Mobiscore,' which will be used to make the loan sanction decision in 30 seconds.


Through the MobiKwik app, users can apply for loans ranging from Rs. 5,000 to Rs. 60,000. MobiKwik customers who take out loans using the app will be able to transfer the funds to their bank accounts. The money credited to the app can be used for a variety of things, including last-minute purchases, wedding bills, travel arrangements, hotel reservations, medical emergencies, and payments to both offline and online retailers.


"Our mission is to provide easy access to credit to each and every Indian, regardless of his location," Upasana Taku, co-founder and director of MobiKwik, said in a statement. We've already surpassed 100,000 loan providers in the first few months of launching the product. We will be adding additional loan solutions to our portfolio in order to meet the different credit needs of our consumers."


The loan is paid back in six or nine monthly instalments. They have the option of paying back using the MobiKwik app or allowing MobiKwik's partner to deduct the monthly EMI from their bank account automatically. To be eligible for the loan, MobiKwik users must update their KYC using their PAN card and other KYC details.


Conclusion


There's no need to be discouraged if your personal loan application is turned down. To boost your chances of loan approval, simply work on improving your credit report and following the methods outlined above. Once you've completed this checklist, you're ready to submit your personal loan application.To find about the best pricing and deals, call our toll-free number +91-9477079053. They'll help you in every way they can. Please contact me at Instant Loan if you have any more.

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