FREO partners with HDB Financial Services to provide lending solutions

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Neobank FREO has partnered with HDB Financial Services to provide premium line of credit and personal loans to clients in several Indian cities.

“The line of credit is FREO’s flagship product. HDBFS, in partnership with FREO, will offer the line of credit that allows consumers to access credit anywhere, anytime via a smartphone, ”he said in a statement.

Customers will receive an approved personalized amount that they can start using immediately. As they repay the borrowed amount, the credit limit is replenished and they can continue to withdraw as much as they need. Interest is only charged on the amount used by the consumer and not on the overall limit.

High priced personal loans

“This partnership offers consumers expensive personal loans of up to 10 lakh, which can be used for larger expenses such as home renovations, purchasing a vehicle, planning a trip,” a- he added.

The partnership will help FREO and HDBFS develop and deliver multiple financial products aligned with clients’ needs, encouraging them to borrow, save and spend money wisely for a variety of purposes.

“We have a strong presence in over 950 locations with over 1,300 branches across India. The association is a big step towards improving the overall customer experience by providing them with easy financing through digital channels, ”said G Ramesh, Managing Director and CEO of HDB Financial Services.

Bala Parthasarathy, co-founder of FREO, said: “We have partnered with HDB Financial Services and aim to provide clients with a complete, simple and flexible digital financial journey.

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