Poonawalla Fincorp Launches Consumer Durables Lending with Digital EMI Card

Mumbai: Poonawalla Fincorp Limited (PFL), a NBFC under the Cyrus Poonawalla Group, has announced its strategic entry into the consumer durables loan segment—introducing a digital EMI card with pre-approved limits and a tech-driven loan disbursement platform aimed at transforming the retail lending experience.

Positioning itself at the intersection of technology and consumer finance, Poonawalla Fincorp aims to simplify access to credit for high-frequency purchases such as smartphones, electronics, and home appliances. The initiative is designed to tap into the booming demand for consumer durable financing in Tier 2 and Tier 3 cities, where affordability and formal credit penetration are rapidly increasing.

The digital EMI card and instant point-of-sale loan approvals allow customers to access credit within five minutes at retail outlets. These offerings come with flexible EMI options, competitive interest rates, and an extensive network of retail partners. PFL’s platform is tailored to serve both salaried and self-employed customers, enhancing convenience while expanding the company’s lending footprint.

“This is not just a product launch—it’s a strategic lever to scale our retail business faster, deeper, and more profitably,” said Arvind Kapil, Managing Director & CEO of PFL. “It opens access to millions of new customers and enables us to support them across their financial lifecycle.”

Poonawalla Fincorp Expansion Plans

With finance penetration in the consumer durables segment currently estimated at 30%, Poonawalla Fincorp sees significant room for growth, especially among first-time borrowers. The initiative is expected to become a strong cross-sell channel for personal loans, insurance, and other financial products, fostering high engagement and lifetime customer value.

In its first phase, PFL will expand to 70 cities, partnering with over 5,000 dealers—including regional retailers and small businesses—along with leading OEMs. Simultaneously, the company is revamping its payment systems by enabling real-time disbursements to dealers, replacing traditional batch processing with faster settlements.

This marks the sixth new business vertical launched by PFL as part of its expansion roadmap.