L&T Finance partners with Cred to offer fast, unsecured personal loans
Cred to offer unsecured personal loans to Cred members who have high credit score and positive repayment history.
L&T Finance (LTF) will be offering these loans with its co-lending partner Newtap Finance, a non bank finance company that specialises in digital lending and risk assessment.
With this collaboration, Cred members will be able to avail credit within a few minutes. They will also have an option of flexible repayment tenure along with competitive interest rates
“This partnership is an opportunity to empower our members—those with high credit scores, impeccable repayment histories, and affluence—with credit from one of the nation's most reputable lenders”, said Kunal Shah, founder, Cred.
The consolidated loan book size of L&T Finance grew by 13 per cent on year to Rs. 88,717 crore at the end of June 2024 from Rs. 78,566 crore a year ago.
LTF's Personal Loans business is expected to continue growing, fueled by various factors such as strategic partnerships and collaborations, expansion into new geographies, and customer retention
Shares of L&T finance were up 1.27% to 167.35 a piece.
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