Poonawalla Fincorp Limited (PFL), a Cyrus Poonawalla Group NBFC specializing in Consumer and MSME lending, has launched its Consumer Durables Loan segment, alongside a digital EMI card that comes with pre-approved limits for hassle-free purchases. This marks a significant expansion of PFL’s retail lending strategy, focusing on high-frequency, high-velocity retail segments with strong growth potential.
The move enables instant, point-of-sale loans for customers purchasing smartphones, electronics, appliances, and other durable goods. The new digital EMI card allows quick loan sanctioning within 5 minutes, offering a smooth and efficient purchase experience. Designed to cater to both salaried and self-employed individuals, this product offers flexible EMI options, competitive interest rates, and a broad retail partner network — simplifying the financing process at the point of purchase.
By entering this booming segment, PFL aims to unlock rapid customer acquisition and create a cross-sell funnel to offer other financial products such as personal loans and insurance. This initiative also aligns with the growing demand for consumer durable financing, especially in Tier 2 and Tier 3 cities, where credit penetration is on the rise. Currently, consumer durable finance in India holds a 30% market penetration, and PFL aims to capture a significant share of this expanding opportunity.
Backed by a robust digital stack and ecosystem partnerships, the company is prioritizing a risk-first approach, beginning with the institutionalization of its acquisition processes within the first 90 days. In Phase 1, PFL will expand into 70 locations—targeting a mix of metro and non-metro cities—while partnering with 5,000+ regional dealers and top OEMs across product categories.
In addition, PFL is modernizing its payment systems by enabling real-time dealer disbursements, replacing outdated batch processing with instant settlements, ensuring smoother transactions for retailers.
This launch is part of PFL’s broader roadmap to diversify and strengthen its lending portfolio. With this new vertical, the company has now introduced six new businesses, reinforcing its commitment to simplify credit, enhance customer experiences, and build a future-ready retail finance ecosystem.
