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FREO partnered with HDB Financial Services

Published on July 09, 2021
Current Context: The country’s first credit led Neo bank, FREO has entered into a partnership with HDB Financial Services (HDBFS).
FREO partnered with HDB Financial Services
  • They have partnered to grant a credit line and high-ticket personal loans to customers in India.
  • Basically, the credit line is a flagship product of FREO.
  • And FREO’s partnership with HDBFS will enable to offer this product to the consumers so that they can have an access to the credit anywhere, anytime via a smartphone.
  • Under this, the customers will get a personalised amount approved which they can start using immediately.
  • And as they repay the borrowed amount, the credit limit is replenished and they can continue withdrawing as they want.
  • The interest will be charged only on the amount the consumer uses, and not on the overall limit.
  • Both the entities will also offer high-ticket personal loans of up to Rs 10 lakh for bigger expenses.
  • Static Part: 
    • HQ of HDBFS: Mumbai
    • HQ of FREO: Bangalore

Question: 

Q.1 With which entity the FREO entered into a partnership to grant a credit line and high-ticket personal loans to customers in India?
a. Yes Bank
b. HDB Financial Services
c. Fullerton India Credit Company Limited
d. Muthoot Finance
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