Equitas Small Finance Bank becomes the first small finance bank to offer a dedicated mobile loan application with the launch of Selfe Loans. The user-friendly interface of the app allows its users to apply for loans from the comfort of their location.
As the festive season approaches, Equitas SFB recognizes the increased financial needs of small businesses such as provision stores, teashops, and repair centers. These enterprises often require additional funds to support inventory expansion, manage working capital, and capitalize on seasonal business opportunities. To address this need, the bank offers long-term credit, term loans secured against the borrower’s property through the Selfe Loans app. It combines the flexibility of digital lending with tailored financial products, to empower small businesses to thrive during this crucial business period.
Through the app, Equitas is focused to provide solution to this growing demand aiming to increase the use of internet in the realm of financial services and reducing the chances of users being exposed to financial frauds. Currently, the app offers secured loans without income proof including loans against property, home loans, merchant overdraft, new and used car and commercial vehicle loans. The bank plans to expand loan products and will be made available within the app.
The Selfe Loans App, is available on both iOS and Android app stores, with a user-friendly interface that can be accessed in regional languages. Through the app, the bank currently provides secured loans and plans to introduce personal loans for salaried professionals. Additionally, customers can track and manage their loan through the app.
