IIFL Finance has become the first non-banking finance company (NBFC) in India to launch instant business loan service on WhatsApp. Users can avail loans up to Rs 10 lakh with minimum documentation within 10 minutes
How to avail the loan?
To avail loan, the user will have to send a 'Hi' message to 9019702184. The user will be then asked to share basic details, complete the KYC, verify bank transfer details.
The facility is developed in collaboration with fintech firm Setu.
While WhatsApp currently has over 450 million users across India, IIFL Finance is one of India's largest retail-focused NBFC.