Poonawalla Fincorp Forays into Consumer Durables Lending to Drive Customer Growth and Strengthen Retail Portfolio

Varahi media.com online news,Mumbai, April 22, 2025:Poonawalla Fincorp Limited (PFL), a leading NBFC backed by the Cyrus Poonawalla Group and focused on Consumer and MSME Lending, has

Varahi media.com online news,Mumbai, April 22, 2025:Poonawalla Fincorp Limited (PFL), a leading NBFC backed by the Cyrus Poonawalla Group and focused on Consumer and MSME Lending, has announced its strategic entry into the Consumer Durables Loans segment. As part of this expansion, the company has launched a digital EMI card with pre-approved limits, enabling customers to conveniently finance their purchases of consumer durables.

This move marks a significant milestone in PFL’s journey to build a robust, tech-driven retail franchise, while accelerating customer acquisition, improving profitability, and enhancing customer lifetime value.

The consumer durables loan segment represents a fast-growing, high-frequency market opportunity. With this launch, PFL aims to tap into the momentum by offering instant, point-of-sale loans and digital onboarding—allowing for real-time customer acquisition and scalable growth. This initiative also creates a high-potential cross-sell ecosystem, where customers availing of consumer durable loans can be offered personal loans, insurance, and other financial products, fostering deeper engagement and long-term value.

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Speaking on the launch, Mr. Arvind Kapil, Managing Director & CEO of Poonawalla Fincorp, stated,

“This is a strategic growth lever, not just a new product. It empowers us to expand our retail business swiftly and sustainably, giving us access to millions of new customers. It enables us to support them across their full financial journey.”

The newly launched product promises loan approvals in under 5 minutes, providing a seamless experience at dealer locations for both salaried and self-employed individuals. It offers competitive interest rates, flexible EMIs, and wide coverage through a strong network of retail partners.

The Indian consumer durables market is witnessing a sharp rise in financing demand, particularly in Tier 2 and Tier 3 cities. Currently, finance penetration in this sector stands at around 30% and continues to rise. With many first-time borrowers seeking EMI-based financing for smartphones, appliances, and electronics, PFL sees this as an opportunity to deepen its presence and become a household name.

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In the first phase, PFL will focus on institutionalizing end-to-end customer acquisition processes within 90 days. The company plans to scale the business across 70 locations, including key metros and emerging cities, by partnering with over 5,000 dealers and regional retailers. Collaborations with major OEMs are also underway to strengthen PFL’s footprint across India.