Google Pay, a famous digital payment platform, is now available not just for transactions but also for personal loans. This service is beneficial for those people who feel the need of immediate money and want to get easy and fast loan. In this article, we will cover in detail the process of taking a loan through Google Pay, eligibility, required documents and other important information.
Loan facility from Google Pay
Google Pay has partnered with some banking and financial institutions to provide personal loan facility to its users. Through this, you can apply for a loan right from your smartphone, without any heavy paperwork. This process is completely online, which saves your time and effort.
Loan amount and interest rate
Through Google Pay you can get a personal loan ranging from ₹10,000 to ₹1,00,000. Interest starts at 13.99% per annum, which is based on your credit score, loan amount and repayment tenure.
Loan repayment period
The loan repayment period depends on the amount chosen by you and your financial status. Nowadays, this tenure can range from 12 months to 36 months. You can choose the option of EMI (Equated Monthly Installments) as per your convenience.
Eligibility for loan from Google Pay
Following are some of the eligibility criteria for availing a loan through Google Pay:
- Citizen: You must be a citizen of India.
- Age: Your age should be between 21 to 57 years.
- Aay: You should receive your regular aay, which is received in your bank account.
- Credit Score: Your credit score should be 700 or higher.
In addition to these eligibility criteria, you must also have an active Google Pay account.
Avashyak Document
You will need to upload some required documents at the time of applying for the loan:
- Aadhaar Card: Your Aadhaar card, which proves your identity.
- PAN Card: Your Permanent Account Number (PAN) card, which is necessary for your financial identification.
- Bank Statement: Bank statement for the last 6 months, which details your income and expenses.
- Passport Size Photograph: A recent passport size photograph.
These documents are important for your eligibility and loan approval.
How to get loan from Google Pay: Step-by-Step Guidance
You can apply for a loan through Google Pay by following the steps given below:
- Open Google Pay App: Open Google Pay app on your smartphone.
- Going to the ‘Loans’ section: Select ‘Loans’ or ‘Business’ section at the bottom of the app.
- View Loan Offer: Here you will see the loan offers available to you. Choose the loan amount as per your requirement.
- Personal Details in India: Your name, address, where you live in India.
- How to Upload Documents: Aadhaar card, PAN card, bank statement etc. documents can be uploaded.
- Loan Plan Choose: Choose the loan repayment plan and tenure as per your convenience.
- To submit the application: After filling all the information, submit the application.
- Loan Approval: After your application is verified, the loan will be approved and the amount will be transferred to your bank account.
This process is simple and fast, which provides you with immediate financial help.
How to make loan repayment?
For loan repayment you will have to set up auto-debit facility from your bank account. EMI amount will be automatically deducted from your bank account every month on specified dates. If you do not have sufficient funds in your account in any month, you may be charged a penalty and your credit score may also be affected.
How to get loan from Google Pay: The tension of money is now over!
Benefits of taking loan from Google Pay
- Easy Process: The entire loan process is digital and paperless, with no need to submit any kind of paper document.
- Instant Approval: If your profile is correct and you fulfill the eligibility criteria, your loan can be approved instantly.
- Flexible Repayment Tenure: You can choose the EMI and tenure as per your convenience.
- Safe and Secure: Google Pay is a trusted platform that keeps your personal and financial information secure.
Things to keep in mind when taking loan from Google Pay
- Keep in mind the interest rate: Before taking the loan, get information about the interest rate and hidden charges.
- EMI Calculation: Before taking the loan, calculate your EMI so that you do not have to worry about repayment.
- Pay attention to Credit Score: Maintain a good credit score so that you can get loan approval quickly.
- Pay EMI on time so that you can get better offers in future.
Google Pay Se Loan Kaise Lene Ka Step-By-Step Guide
- Open Google Pay App: Open Google Pay app in your smartphone.
- Click on Loan Section: Click on “Loan” or “Business” section on the home screen.
- Select Loan Amount: Select the loan amount as per your requirement.
- Fill Personal Details: Fill name, address, income and other details.
- Documents can be uploaded: Aadhaar card, PAN card, and bank statement can be uploaded.
- How to Wait for Loan Approval: If you fulfill the eligibility criteria then your loan will be approved.
- Loan Amount Will Be Transferred To Your Bank Account: Immediately after approval, the loan amount will be transferred to your bank account.
Who is eligible to take loan from Google Pay?
- Candidate must be a citizen.
- Applicant’s age should be between 21-57 years.
- Good credit score should be there (at least 700 or more).
- Must have regular income.
- Must be an active user of Google Pay.
How to repay loan through Google Pay
- Loan repayment will be through automatic EMI deduction.
- You can also deposit EMI manually if you want.
- Penalty may be imposed on late EMI payment.
- Making timely EMI payments will have a positive impact on the credit score.
Conclusion
If you need money quickly, a personal loan from Google Pay can be a great option. This process is completely digital which saves time and effort. If you fulfill all these conditions then you can get the loan without any worry. What did you talk about? Today you can apply for a loan from Google Pay and fulfill your financial needs!
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