Google Pay: With Google Pay you can easily get a personal loan ranging from ₹25,000 to ₹1 lakh. Google Pay has partnered with various banks and financial institutions, making the process simpler and faster.
1. Update Google Pay App:
First of all, update your Google Pay app to the latest version.
2. Find Loan Options:
Open the app and go to “Loans” or “Finance” section.
If the loan option is available for your account, it will appear there.
3. Select Loan Amount:
Choose the amount as per your need between ₹25,000 to ₹1,00,000.
4. Complete the KYC Process:
Fill Aadhar Card and PAN Card information.
The process will be completed through OTP to confirm your KYC.
5. Approval of Loan:
The loan will be approved based on your creditworthiness (CIBIL Score) and income verification.
After approval, the loan amount will be transferred directly to your bank account.
6. Choose EMI option:
Select the EMI tenure (from 3 months to 36 months) to repay the loan.
Terms of taking loan:
Age Limit: 21 to 60 years.
CIBIL Score: Must have good CIBIL score (650 or above).
Bank Account: An active bank account linked to Google Pay is required.
Advantages:
1. Quick process: Everything from loan application to receiving the amount is digital and instant.
2. No documentary hassle: Only Aadhaar and PAN required.
3. Flexible Repayment: You can choose EMI as per your convenience.
Precautions:
Interest rates may vary, so read terms carefully before applying.
Make EMI payments on time, so that your CIBIL score does not get affected.
Note: Google Pay loan options may be available depending on the region. If you don’t see it in your app, it means it’s not available to you right now.
