5 Million Strong: How PLANET App By L&T Finance Empowers Users to Manage Their Loans

In today’s fast-paced and interconnected world, managing finances can be a daunting task. Many individuals struggle with keeping track of their loans, making timely payments, and maintaining a healthy credit score. However, with the advent of innovative financial technology solutions, such as the PLANET APP by L&T Finance, users now have a powerful tool at their disposal to effectively manage their loans and take control of their financial well-being.

PLANET App By L&T Finance

L&T Financial, a retail-focused non-banking financial company (NBFC), has attained a remarkable feat with their PLANET (Personalized Lending & Assisted NETworks) application, crossing the noteworthy milestone of 5 million downloads. The substantial surge in downloads can be ascribed to the extensive outreach of loan products in rural India through digitization, as well as the widening scope of loan offerings in urban India.

The PLANET app stands out as one of the most highly acclaimed financial applications on both the Google Play Store and Apple App Store, boasting impressive ratings of 4.4 and 4.3 respectively. Its commendable performance has resulted in a staggering business volume of nearly Rs. 1,650 crores+ and collections of over 240 crores. The app is geo-agnostic, making the journey easier for customers regardless of their location and is available in 12 languages including English and Hindi. It has served more than 48 lakhs interactions till date and is growing swiftly.

PLANET App is a cutting-edge mobile application that empowers users to manage their loans efficiently. It provides a comprehensive platform that simplifies the loan management process, offers financial products and gives real-time alert on the loan payments.

With over 5 million users and counting, PLANET App has become a trusted ally for individuals seeking to navigate the complex world of loans.

The Power of Empowerment

At its core, PLANET App is all about empowerment. It understands the challenges users face when dealing with loans and aims to provide them with the knowledge, resources, and tools to make informed financial decisions.

By offering a user-friendly interface, personalized insights, and a range of features, PLANET App puts the power back into the hands of its users.

Download PLANET App By L&T Finance

Download and try the mobile app from the link below and QR code.

Key Features of PLANET App By L&T Finance

Convenient Loan Payment Options

The application offers a seamless and expedient payment experience, enabling users to effortlessly make loan repayments. It presents a variety of payment methods such as UPI, Debit Card, Net Banking, Wallet, and more, ensuring convenient options for users to manage their loan payments effectively.

By providing such diverse payment avenues, individuals can easily avoid missed payments, thereby safeguarding their credit score. Additionally, PLANET, through its pre-login payment feature, simplifies the payment process for non-registered customers, allowing them to make payments on behalf of other L&T Finance customers. This streamlined approach has resulted in over 240 crore rupees worth of L&T Finance collections via PLANET.

Managing Loans Made Easy

One of the standout features of PLANET App is its ability to streamline the loan application process. Traditional loan applications can be time-consuming and complex, often requiring extensive paperwork and multiple visits to financial institutions.

However, with PLANET App, users can apply for loans directly through the app, saving valuable time and effort. The app guides users through the application process, ensuring all necessary information is provided, and increases the chances of loan approval.

Real-Time Loan Management

Once a loan is approved, PLANET App continues to support users by offering real-time loan management features. Users can easily view their loan details, including repayment schedules, outstanding balances, and interest rates. Additionally, the app provides timely reminders for upcoming payments, helping users stay on top of their financial obligations.

Easy Loan Documents Access

Gone are the days of rifling through stacks of papers or waiting for mail delivery to obtain loan documents. The option to download all loan documents allows borrowers to retrieve necessary paperwork at their convenience. Whether it’s an NOC to close a loan, an Interest Certificate for tax purposes, or a repayment schedule to plan finances effectively, these documents are just a click away.

One of the key advantages of the option to download all loan documents is its availability round the clock. Traditional methods often restrict access to working hours or involve lengthy processing times. However, this digital solution eliminates those barriers by offering borrowers the flexibility to download their documents at any time, regardless of their geographical location.

Faster Loan Approval Process – Consumer Loan

When financial needs arise, time becomes a crucial factor in obtaining a consumer loan. In response to the demand for faster loan approvals, financial institutions have implemented strategies to expedite the process.

By embracing technology, streamlining procedures, and leveraging data analysis, lenders can now offer borrowers a quicker loan approval process, enabling them to access funds promptly. The average loan approval time for two wheeler is around 5 minutes and for consumer loans its around 7 minutes.

The shift towards digitalization has significantly impacted the loan approval process. With the availability of online application forms, borrowers can conveniently complete and submit their loan requests from the comfort of their homes. Additionally, digital documentation eliminates the need for physical paperwork, reducing processing time and increasing efficiency.

Digital Two Wheeler Loan

This revolutionary two wheeler loan helps the user to shortlist the vehicle from the nearest dealer. It also helps to get the loan approved within a few minutes. User can even book for a test drive at the nearest dealer.

With its user-friendly interface and advanced technology, customers can
easily apply for and receive their loan without the need for any physical paperwork or visits to a bank.

This unique feature of this app makes it standout in the two wheeler loan market.

Credit Score Monitoring

A healthy credit score is crucial when it comes to securing favorable loan terms and financial opportunities. PLANET App understands this and provides users with a comprehensive credit score monitoring system.

Users can access their credit score in real-time, receive alerts for any significant changes, and gain insights into factors that impact their creditworthiness. This feature allows users to take proactive steps to improve their credit score and open doors to better financial opportunities.

As a part of the comprehensive financial management, PLANET App also offers wellness insurance plan for users to safeguard their families.

Mandate Swap

The application provides customers with the convenience of swapping their mandate, enabling them to effortlessly manage their auto debit account details. This feature streamlines the loan repayment process, minimizing the chances of missed payments and eliminating the need for incurring additional late fees.

By offering this functionality, the app ensures a smoother and more efficient repayment experience for customers, promoting financial discipline and avoiding unnecessary expenses.

Up to Date Personal Information

The application offers users a user-friendly interface to conveniently manage and modify their personal information, including address details and phone numbers. This feature proves highly beneficial, especially for individuals who have recently relocated or changed their contact numbers and seek to ensure that their loan account reflects accurate information.

With the app’s seamless functionality, users can effortlessly update their details, maintaining the correctness and relevance of their loan account data.

Security and Privacy

The team behind PLANET App prioritizes the security and privacy of its users. Robust encryption protocols and advanced security measures are in place to safeguard personal and financial information. Users can trust that their data is protected and handled with utmost care, ensuring peace of mind while using the app.

PLANET App empowers users by providing them with transparency and control over their loans. By offering a centralized platform for loan management, users can easily access vital information, make informed decisions, and avoid potential pitfalls associated with loans.

Mandi Price

The PLANET App includes a valuable feature that empowers farmers to access and monitor mandi prices, serving as a valuable resource for those seeking a deeper understanding of the agricultural market.

By providing real-time mandi prices, the app equips farmers with crucial information about the pricing dynamics of various agricultural products, enabling them to make more informed decisions about selling their crops. This feature proves instrumental in assisting farmers to secure the best possible prices for their produce by facilitating a comparison of prices across different mandis.

Additionally, it enables farmers to make well-informed choices regarding the optimal timing for planting and harvesting their crops, considering prevailing market conditions. By leveraging this information, farmers can enhance their profitability and overall financial well-being, contributing to a more prosperous future.

About L&T Finance Limited

L&T Finance, a prominent NBFC (Non-Banking Finance Company) authorized by the Reserve Bank of India in 1994, offers a comprehensive range of loan services. As a trusted destination, it provides a convenient platform to access loans and efficiently manage diverse loan categories such as Two-Wheeler Finance, Farm Equipment Finance, Micro Loans, Housing Finance, SME Finance, Farm Equipment Loans, and Consumer Loans. With L&T Finance, individuals can easily meet their financial needs and gain valuable insights into their loan particulars.

Conclusion

In a world where loans are an integral part of many individuals’ lives, having a reliable tool to manage them effectively is crucial. PLANET APP by L&T Finance empowers users by offering streamlined loan management, credit score monitoring, and enhanced security.

With over 5 million downloads, PLANET App has proven to be a game-changer in the realm of loan management, providing individuals with the means to take control of their loans.

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