Ola drivers to get loans within 30 minutes
It is great news for all those drivers who need instant financial assistance from employer, Ola. The Ola is the India’s largest app taxi chain that has made a very important deal with a financial partner named Flexi Loans. Flexi Loans is an online credit agency which will give instant loan to the divers who are already associated with the Ola’s app cab platform and roll out their cars or personal need. It is being said that this crucial partnership will enable sanctioning of loan in just 30 minutes, which is way too lesser than any other loan sanction time.
|Name of app cab company
|Total no. of vehicles affiliated
|More than 4.5 lakh
|Instant loan providing agency
|Flexi Loans Technologies
|Loan sanction duration
|Max loan amount
|Rs. 1 lakh
|Only Ola Star drivers
Nature of loans to be provided
The loan will be provided to the Ola drivers totally hassle-free and the sanction time will be within the time bracket of 30 minutes. The loan provider is Flexi Loans Technology , which will provide online credit to the beneficiaries. The maximum loan amount which might by sanctioned under this scheme is Rs. 1 lakh. The drivers of Ola can use the loan amount either in expanding their Ola business, or for any other use. These loans will be provided online and the procedure contains minimal paperwork and is hassle-free. During repayment also, the loan provider will assist to make the EMIs affordable for the Ola drivers.
Nature of beneficiaries
As the Flexi Loans has made the online credit partnership with Ola, it will be providing easy and instant loans to its drivers. But there are some eligibility criteria for getting these loans. At present, Ola has taken the decision to provide this loan facility to its top drivers who work on the Ola platform with the highest ratings and positive customer feedback. These drivers, belonging to Ola Star category can get this loan within a period of 30 minutes on applying. Ola has started this credit facility scheme in just two cities of India – Bengaluru, Karnataka and Mumbai, Maharashtra. However after this scheme tastes success, Ola aims to introduce it to the rest of the country.
Objective of the scheme
Ola is the largest app based taxi platform in India, being far ahead in the race with its rivals. To ensure this dream run, Ola has decided to empower its drivers with this instant loan scheme. Thus, they can utilize it in growing their business with Ola or may also use it in health, child education or any personal activity. Ola has in past made similar partnerships with other financial institutes and car makers to help its enrollers having ease of opting the profession and making business. Thus, it is keen on empowering its drivers through various schemes. This time, Ola has targeted its elite group of drivers, who are highest rated ones, for providing them easy online loans.