EMI Game Revolutionizes Loan Repayment Culture in India

In an innovative move, India's largest EMI payers' community, Zavo, has introduced the EMI Game, a novel competitive league designed to encourage timely loan repayments through attractive rewards such as iPhones and electric cars. This marks a shift in the traditional lender-borrower relationship.

The game is built to reduce defaults and encourage better repayment habits among younger demographics, who are major contributors to India's surging ₹50 lakh crore retail credit market. By framing repayments as a cricket-style contest, Zavo transforms the monthly task of paying EMIs into an engaging experience.

The platform integrates seamlessly with various payment methods and rewards consumers with points for each timely repayment. Backed by consumer brands, EMI Game not only motivates borrowers but also aids in enhancing their credit profiles, offering a refreshing alternative to the conventional, often punitive, collection practices.

(With inputs from agencies.)