Oppo to offer financial service like mutual funds and insurance with ‘Oppo Kash’ App

Oppo launches financial service app Oppo Kash

After Xiaomi and Realme, the other Chinese smartphone maker has brought a new app, Oppo Kash, for its users. The company aims to gain 1 crore customers in the next 5 years. In the coming time, the company also plans to provide financial well-being scores and payment facilities on the app.

Sumit Valia, Vice President, Oppo said that Oppo has brought a new app, Oppo Kash, for its users. Through this app, users can invest in mutual funds, personal funds, insurance, business loans and for themselves on smartphones.

Apart from this, the facility of mobile screen insurance, the free credit reports will also be available on the ‘Oppo Kash’ App. According to the company, with this app, Oppo has become the first smartphone company in India to offer financial services and investment in mutual funds. The company has now made this app available on Android and Oppo Cash Store.

loan will be available through the Oppo Kash app

Personal loan: Customers can avail of personal loans ranging from Rs 8,000 to Rs 10 lakh through the Oppo Cash app. The interest rate on personal loans will be 11% to 30% annually. The loan period will be between 3 to 60 months.

The rate of interest will depend on the risk profile of the customer. For this, the company has tied up with IIFL Bank, Early Salary, Credit Learning, and HDFC Bank.

Business Loan: You can also take a business loan of Rs 50,000 to Rs 2 crore. The term of this loan can be from 12 months to 36 months. For this, the company has tied up with HDFC Bank,, Lending Kart, IIFL, and RBL Bank.

The rate of interest on business loans will be 9 to 30 percent. You can also get a free credit report through the app which will help you while taking a loan.

Will also be able to get screen protection insurance

Screen protection insurance will also be available on the old and new mobile phones of Oppo through this app. The company has tied up with ICICI Lombard general insurance company for this. In this, you can claim for insurance up to 2 times a year.

List of Mutual Fund Companies in India

Mutual Fund Investment will be available through the Oppo Kash app

You can also invest in mutual funds through this company app. Freedom SIP is offered on the app to investors. The company has tied up with ICICI Prudential AMC limited for this. With Freedom SIP, users can invest in mutual funds with a minimum investment of Rs 100. In this, investors have to choose the monthly duration, which has the option of 8 years, 10 years, 12 years and 15 years.