Chinese company Oppo has launched its financial service Oppo Cash in India for Android users. In this, customers will be provided mutual funds, credit reports, personal loans and business loans through the app. Oppo will be available as a pre-installed app on the smartphone while other users will have to download it from Google Play Store. According to the information given on the Google Play Store, a customer above the age of 18 years will be provided with a personal loan ranging from 8 thousand to 10 lakh rupees and a business loan of 50 thousand to 10 crore from the app. Apart from this, the screen insurance facility will also be provided for Oppo Mobile only. At present, financial services Mi Credit and Realme Money already exist in India.
Initially, five types of services will be available in Oppo Cash. Which includes Mutual Fund, Freedom SIP, Personal Loan, Business Loan, and Screen Insurance. The most special of which is the Freedom Systematic Investment Plan. Through this plan, the user can start investing in mutual funds with a minimum amount of 100 rupees. The company has partnered with around 20 asset management companies for this, which will provide multiple SIPs and mutual funds on the platform.
Oppo Vice President Sumit Walia said that through Oppo Cash users have to provide end-to-end financial solutions on the palm. Our goal is to reach 1 crore users of Oppo Cash in the next 5 years. In the next 18 weeks, users will also be provided with 6 other services such as payment, landing, saving, insurance, financial education, and financial well-being score. It will also be launched soon for iPhone users.
Apply for loan in only 7 steps
- Install oppo cache app first
- Register via the phone number, email and social login
- Click on the Loan section, click on Salary for Personal Loans and Self-Employee for Business Loans.
- Feel the basic details. Check eligibility through Monthly Income or Revenue, after this, explain the loan amount and the repayment period.
- Upload KYC document (selfie, ID, address proof and PAN card)
- Select Product and Input Maximum Loan
- After some time the loan will be transferred to the user’s bank