Gpay Personal Loan: Friends, Google Pay is a well-known payment application in our country. Through this article, I will explain in detail how you can apply for a personal loan using the Google Pay application. By reading the appropriate process mentioned below, you can easily obtain complete information on how to take a Google Pay Loan. In our daily lives, we often face problems related to money. Sometimes, we are unable to manage our finances, but now there is no need to worry. Google Pay Application is an application through which you can easily apply online and get a personal loan.
Therefore, I will explain in detail the complete process of taking a Google Pay Loan in this article, which will enable you to apply for a Google Pay Loan easily. Currently, Google Pay Application offers its users loans starting from as low as possible. For almost all kinds of needs, we require money. Taking a loan from a bank for small financial needs can be a lengthy process. Often, we find ourselves in sudden need of some money, and to address this issue, Google Pay has introduced the facility of personal loans. If you are troubled due to the sudden need for some money, then this article can be important for you.
Google has started the work of providing loans for the past few years. Personal loans can be obtained through this application. Generally, a normal interest rate is applied to this loan, and the distribution of the loan is given for a period of up to 4 years, which also includes the facility of EMI.
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Google Pay is a popular application used primarily for online payments. For a few years now, this application has also been offering personal loans. Google Pay has collaborated with DMI Finance Limited to provide personal loans. By partnering with DMI Finance, Google Pay offers loans, and it takes only 5 minutes to receive the money in your bank account. The loan tenure can range from 5 months to 4 years, and you are required to pay an annual interest rate of 13.9%. Additionally, with the help of EMI, you can repay your loan in monthly installments of ₹500.
Eligibility Criteria for Gpay Personal Loan
- The applicant must be at least 21 years of age to be eligible for loan approval.
- To avail a loan through Google Pay, it is necessary to have a user account on the application. New users are required to use Google Pay for a few days before they can apply for a loan.
- Google Pay loans are only provided to Indian citizens.
- To be eligible for loan approval, the applicant’s credit score should be good, and they should have a bank account in their name from where they will make the loan repayment.
Documentation need for Gpay Personal Loan
In order to apply for an instant loan through Google Pay, the candidate must have a bank account. To be eligible for the loan, the applicant must have a high CIBIL score. The necessary documents for the application include the applicant’s Aadhaar card, PAN card, income proof, address proof, self-employed individuals need to provide their ITR, and salaried individuals need to provide their salary slip. Additionally, a passport-sized photo and CIBIL score are required, along with the applicant’s mobile number.
Process to apply for Gpay Personal Loan:
To apply for an instant loan through Google Pay, follow the listed instructions to learn more about the application process.
- First, download the Google Pay app from the Google Play Store on your smartphone.
- Once the program is downloaded, proceed to log in to the app.
- Continue to add a bank account so that you can make UPI transactions through the Google Pay application.
- Afterwards, scroll down the application and select the loan option, followed by choosing the offer and reward options.
- Proceed to verify each loan guarantee.
- Once the guarantee is validated, you will need to confirm it using your PAN card number.
- Once the verification is complete, complete the loan application and submit it.
- The Google Pay app will receive the loan through UPI transactions with the bank and those bank transactions will be recorded in the civil service.
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Terms of repaying the Gpay Personal Loan:
- By paying ₹500 every month, you can repay your loan. When we take a loan, the biggest concern is how to repay it.
- However, when you take a loan using the Google application, the first benefit is that you are not required to provide any collateral and there is no need for any type of collateral documentation.
- After that, you are given a time period of 4 months to 4 years to repay the loan. If the loan amount is very small and you can repay it immediately, then it can also be repaid all at once.
- Usually, if the loan is a bit larger, which you do not want to repay all at once, the facility of EMI is provided.
- During the application process, you will be asked to choose the amount and duration of the EMI. As an EMI, you can choose a minimum amount of ₹480 per month and in this way, by paying some money every month, you can repay your loan in some time.
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FAQ’s: Gpay Personal Loan
What amount of loan is Gpay offering?
Gpay is offering up to 8 lakhs rupees loan.
What is the minimum age required to be eligible for loan approval?
The applicant must be at least 21 years of age to be eligible for loan approval.
From where we can apply for Gpay Personal Loan?
Through the Google pay app we can apply for the loan.
