PhonePe has started to provide personal loan facilities to their customers where you can get instant loan amount of Rupees 50,000 to 5 Lakh in your bank account through online mode and you are not required to visit the bank or any other branch for further verifications.
So if you are also looking for personal loan scheme then can check this article where we will share with you phonepe personal loan 2024 including how to apply for the loan, terms and conditions in phonepe personal loan, loan amount etc.
Phone Pe personal loan 2024
RBI have registered many small financial companies which are providing online loan facilities and other banking facilities to their customers. So now you are not Limited to look out only your bank for getting personal loan banks have a list of many eligibility criteria which is very difficult to fulfill. Phonepe is also one of them transaction company which is famous for upi transactions But now is also offering personal loan to their customers. Where you can get 10000 rupees to maximum 500000 rupees loan amount please instantly using the mobile application.
Features of phonepe personal loan 20
PhonePe will work as a third party company which will not directly provide loan amount to their customers but will provide the fund to their partner companies such as Bajaj Finserv, Money view, Navi etc. These all are small financial companies in India which are offering banking services through online mode as well as in their branches but famous for their online services. If you are customer of any of them mobile applications or companies and want to get personal loan then can use your account details for login on your application and after that can apply for phonepe personal loan. Company will contact to the phonepe and ask the loan amount so they will provide you the fund accordingly. So PhonePe indirectly provide the loan amount to these customers.
Eligibility for personal loan 2024
You have to filfill the eligibility criteria of PhonePe to get personal loan from your mobile application so we are listing all the important eligibility in the following section:
- Applicant should be an Indian citizen only
- The loan will be provided to only those individuals who are more than 21 years old
- You should have at least 3 months job during applying for the loan
- If you are a self employed then should earn at least 25000 per month to be eligible for getting personal loan
- The bank will also check your CIBIL score so it should be more than 650 to get approval of your loan application
Interest rates in phonepe personal loan 2024
The interest rates for personal loan will be charged by the bank where you are applying. If you have all the eligibility criteria then you can receive the offer of the loan for interest rates between 16% of 19% and it will increase according to the condition of the applicant such as bad CIBIL score, do not have a good job, loan amount, monthly EMI etc. You can get the loan for 3 years to 5 years maximum however it will be calculated according to the loan amount.
Apply for phonepe personal loan 2024
If you want to also get personal loan from phonepe then can follow this procedure in your smartphone
- Visit to the official website for open the mobile application of the company where you have bank account
- After that you have to complete your KYC by uploading your PAN Card Aadhar Card and other information
- Now you will able to see the loan section and can see the phonepe personal loan option in your mobile application
- After that once you click on the link you can read all the terms and eligibility for getting personal loan and the app will also calculate maximum loan amount for your application according to your banking activities
If you are agreed with the loan offer then can click on the submit link where you will receive OTP and once you submit the OTP your application form will be successfully submitted so bank will review the application and will provide loan amount instantly in the bank account. P