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Vodafone Idea (Vi), one of India’s major telecom operators, has announced the launch of Vi Finance, a personal finance platform available through the Vi App. This new feature enables users to access services such as loans, fixed deposits, and credit cards in a digital format. It builds on the existing capabilities of the Vi App, which currently supports utility bill payments, entertainment, gaming, e-commerce discounts, and more.
Vi Finance has been developed in collaboration with established financial institutions, with the aim of offering accessible and convenient personal finance solutions. The platform is intended to serve as a one-stop digital hub for a range of financial needs.
Avneesh Khosla, Chief Marketing Officer at Vi, commented, “At Vi, we are committed to delivering convenience to our customers through digital solutions. By integrating financial products within the Vi App via Vi Finance, we aim to simplify access to personal finance. Our digital-first, paperless approach is designed to remove complexity, and our partnerships with trusted institutions ensure a broad range of options to meet individual financial needs.”
Vi Finance services
Personal Loans
In partnership with Aditya Birla Capital, Vi Finance offers unsecured personal loans starting from Rs 50,000, with interest rates from 10.99% per annum. The application process is entirely digital, requiring minimal documentation and enabling quick KYC verification, making it suitable for urgent financial requirements.
Fixed Deposits
Through a collaboration with Upswing Financial Technologies, Vi Finance provides access to fixed deposit products from various banks and financial institutions. Customers can invest from as little as Rs 1,000, with interest rates of up to 8.4% per annum. All deposits are insured up to Rs 5 lakh per bank under the Deposit Insurance and Credit Guarantee Corporation (a wholly owned subsidiary of the Reserve Bank of India). The process is entirely paperless and can be completed instantly via the app.
Credit Cards
Vi Finance also enables users to explore and apply for a range of credit cards offered by leading banks, including SBI, Axis Bank, and HDFC, through a partnership with Credilio. The platform includes FD-backed credit cards, aimed at first-time applicants or those with limited credit history. Benefits such as cashback, reward points, and EMI options are available, with simplified application processes that avoid traditional paperwork. Vi Finance is now available to all users through the Vi App, which can be downloaded from the Google Play Store and Apple App Store.