Similar to Xiaomi’s Mi Credit and realme’s PaySa, OPPO has also announced its entrance into financial services in India called OPPO Kash. The app, which is currently in beta, will include multiple services like mutual funds, personal loans, business loans, mobile screen insurance and more.
For the loan service, OPPO is offering personal loan amounts ranging from Rs. 8000 to Rs. 10 lakhs, with instant personal loans up to Rs. 1 lakh. Business loans will be offered for Rs. 50000 to Rs. 10 crore. OPPO will offer flexible repayment tenure for personal loan from 3 to 60 months and up to 36 months for business loans.
Another product that OPPO Kash will offer is Mutual Funds and SIPs, with OPPO partnering with 20 Asset companies including HDFC Mutual Funds, ICICI Prudential Mutual Funds, Franklin Templeton Investments, etc.
Other services include 3 Free credit reports with detailed analysis on credit history, repayment status and analysis of financial health of a user. OPPO is also offering Mobile Screen Insurance for up to 2 claims on an OPPO smartphone, regardless of whether it is old or new.
As mentioned earlier, OPPO Kash is currently in beta and is available for download via the Google Play Store or OPPO’s own App Market.
Speaking on the announcement of OPPO Kash at the Reno3 Pro launch event, Sumit Valia, VP Product and Marketing Oppo said:
Our aim (is) to have 10 million customers in the next 5 years having used either of our services worth 50,000 crore value. With this new initiative, we will be the first smartphone brand to offer comprehensive mutual platform on-the-go.