Finway offers loans ranging from 50,000 to 2 crore with minimum turn around time.
Imagine a situation – a close family member has suddenly taken ill and needs to be hospitalised. You do the needful and then realise you lack enough fund as cash deposit for immediate hospitalisation. What if you are unable to manage a lump sum during such a crucial time?
Naina Mathur, 27, a banking professional, experienced a similar situation when her mother had to be hospitalised urgently at midnight and the deposit amount that they charged was unmanageable for her at that point.
In such circumstances, Finway, a digital lending platform, can come to the rescue. Founded in 2017, New Delhi-based Non-Banking Financial Company (NBFC), Finway Capital, offers loans to millions, that too with a minimum turn-around time. Individuals both salaried and self-employed can choose to borrow any amount ranging from Rs. 50,000 to 2 crore with a repayment tenure of 12 to 120 months, with an average interest rate ranging between 11 and 16 per cent.
Cases like Mathur’s are classic millennial and Gen-Z situations where modest income at the beginning of one’s career coupled with lavish spending often make it difficult to sustain the last few days of the month. Any unseen monetary compulsion during this period can have a huge impact on one’s balance sheet for several months ahead.
There are millions like Mathur who often struggle to make ends meet owing to their extravagant lifestyle based on not-so-extravagant income. Borrowing from a bank is not an option owing to the time required for processing loans. This clubbed with a poor credit history further reduces the probability of getting a loan sanctioned, that too within a short turn-around-time.
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