Poonawalla Fincorp Limited (PFL), a Cyrus Poonawalla Group-promoted Non-Banking Financial Company (NBFC) focused on Consumer and MSME Lending, has announced its strategic entry into the consumer durables loans market. This move is aimed at accelerating customer acquisition and unlocking high-yield growth opportunities.
The new offering includes a digital EMI card with pre-approved limits, allowing customers to purchase consumer durables with ease and flexibility. This initiative is set to strengthen PFL’s retail lending capabilities and enhance long-term customer value.
Consumer durable loans present a high-velocity opportunity for PFL to scale its customer base quickly through instant, point-of-sale loans and digital onboarding. The company aims to leverage a tech-first approach to deliver real-time loan approvals and build operational efficiency.
Commenting on the development, Mr. Arvind Kapil, Managing Director & CEO of Poonawalla Fincorp, said, “This is not just a product launch - it’s a strategic lever to scale our retail business faster, deeper, and more profitably. It unlocks access to millions of new customers and enables us to serve them across their financial lifecycle.”
The loan process promises disbursements in under five minutes at dealer locations, catering to both salaried and self-employed individuals. Customers will benefit from flexible EMI options, competitive interest rates, and access to an extensive retail partner network.
India’s booming consumer durables market, especially in Tier 2 and Tier 3 cities, provides fertile ground for this expansion. With finance penetration in consumer durables at 30% and growing, PFL aims to tap into the demand for financing electronics, smartphones, and home appliances. The company sees this as an opportunity to engage first-time borrowers and deepen its retail footprint.
To ensure seamless execution, PFL plans to institutionalise its customer acquisition processes within 90 days. In the first phase, it will expand into 70 locations across metro and smaller cities, partnering with 5,000 dealers, including regional retailers and small businesses. Collaborations with major OEMs will further enhance reach and impact.
Additionally, the company is upgrading its payment infrastructure by shifting from batch processing to real-time dealer settlements, enhancing speed and operational efficiency.
With the launch of its consumer durable loan vertical, PFL has now introduced six new business lines, reinforcing its secured lending portfolio and commitment to simplifying credit access.
