Fully-digital secured loan product on RUCONNECT App

Mumbai, Nov 22: RULOANS Distribution Services, a leading financial products distribution company, announced today that it has received an overwhelming response from the Channel Partner fraternity for its fully digital secured loan portfolio, launched in September, 2024 on the RUCONNECT app. This app enables a complete, end-to-end digital lending process for home loans (HL) and loans against property (LAP), marking a significant shift in how secured loans are distributed in India.

In collaboration with Piramal Capital & Housing Finance Ltd, RULOANS has introduced a fully digital lending service for home loans (HL) and loans against property (LAP) on the RUCONNECT platform, achieving strong initial traction among channel partners. This launch marks India’s first fully digital, end-to-end lending solution for both HL and LAP, offering a seamless experience tailored to today’s new age DSAs. The HL product provides an accessible pathway to easy homeownership, while the LAP product is especially valuable for MSMEs, offering a reliable financing option that supports business growth and capital needs of the customers of RULOANS’ channel partners. This initiative signifies a pivotal shift from traditional and tedious methods to a modern, technology-driven approach in secured loan distribution, saving time and making it more convenient for DSAs to lend across India.

Since its launch, the platform has processed over 7,000 applications submitted by more than 500 channel partners, resulting in over Rs 35 crore of loans disbursed, with an additional Rs 100 crore and more in the sanctioned pipeline. RULOANS anticipates continued momentum and growth throughout the October-December quarter.

Through the RUCONNECT app, DSAs can complete every step of the loan process—from application and eligibility checks to status updates and disbursement—without visiting a physical branch. This comprehensive digital experience has resonated strongly with customers, driving an exceptional response in a short period.

Kaushik Mehta, Founder & CEO, RULOANS, commented: “In the secured loan space, we have pioneered India’s first fully digital secured loan product on RUCONNECT. The overwhelming response in just 60 days speaks to the market’s readiness for digital solutions. Our collaboration with Piramal Capital & Housing Finance Ltd allows us to offer a seamless experience, and we are thrilled to capitalize on this first-mover advantage.”

RULOANS expects RUCONNECT to see accelerated growth in the coming times, propelled by its initial success and strong demand. This milestone signals a new era in financial services, highlighting how digital innovation is redefining industry practices and setting new benchmarks for consumer expectations.