Google Pay Personal Loan Online Apply
Hello friends, I welcome you all to today’s article. Friends, I will inform you how to take a personal loan using Google Pay. Friends, in today’s digital era, digital wallets and payment apps like Google Pay have made money transfer very easy. Google Pay is not only popular for fast and secure transactions, but now you can also take a loan through it. If you need money immediately, then loan option on Google Pay can be a convenient solution. In today’s article, we will tell you all the details about it so that you can easily take a personal loan from Google Pay and avail its benefits. But for this, you will have to read this article carefully till the end.
Google Pay itself does not provide loans, it is just a medium
Google Pay itself is not a finance company that will give you loan from its own money. Actually Google Pay is just a platform which forms a path between you and finance companies. Currently, the three major partners of Google Pay are DMI Finance, Aditya Birla Finance LTD and Axis Bank. Through these companies, Google Pay works to provide you loan. When you click on the personal loan option on Google Pay and apply for a loan, Google Pay sends your information to these companies. If your CIBIL score and other details are correct, any such finance company approves your loan. In return for this, Google Pay gets commission. Google Pay only works like a middleman.
What is the interest rate and processing fees?
The interest rate of loans offered on Google Pay starts from 11.25% but it is not necessary that you get the loan at such a low interest rate. Depending on your credit history and CIBIL score, the interest rate can be from 20% to 25% or even more. Generally, if your CIBIL score is around 750, then you may get a loan at 14% – 15% interest rate, but if your CIBIL score is low, then you can get an interest rate of up to 25%. Similarly, processing fees can also vary which generally ranges between 3% – 4%.
What is the loan amount and tenure?
Through Google Pay you can avail a personal loan of a minimum of Rs 10,000 and a maximum of Rs 10 lakh. The loan repayment period can be from 6 months to 4 years. The loan amount and duration are decided according to your profile.
How to take personal loan from Google Pay?
Friends, if you want to apply online for personal loan from Google Pay, then for this you will have to follow all the processes mentioned below step by step, which will be of this process –
- To take a personal loan from Google Pay, first of all you will have to download and install Google Pay App from the play store of your mobile phone.
- After that you will have to login with your email ID and mobile number and add your bank account in Google Pay.
- If you have logged in to Google Pay with your mobile number, email ID and your bank account is already added, then you do not have to do all this formality, you just have to apply for the loan.
- On the home screen of Google Pay, you will see the Explore option, on which you will have to click.
- After clicking on Explore, you will see the names of many companies. You will have to click on any company.
- If you do not get loan approval from one or two companies, then you can try with some other company; you will get to see many companies.
- After clicking on the company, you will have to verify your mobile number through email ID.
- After that you will have to fill your personal information like you will have to type your name, PAN card number and pin code, you will have to choose Salaried or Self Employed.
- In this way, after filling in your personal information you will have to click on Get Offer.
- How much loan you will get? The company will verify and tell you. Whatever loan you will get, you will get to see the amount.
- After that you will have to click on accountancy and complete the KYC. You will have to fill in all your information after completing the KYC.
- You will have to choose for how many days the loan should be taken, how many installments should be paid and how much money the loan should be for.
- After that you will have to set up auto debit and start auto debit through Paytm card or your net banking.
- After completing all the information, you will have to submit it. The loan amount will be transferred to your bank account within 12 hours.
conclusion –
Friends, in today’s article I have given you information about how to take a personal loan from Google Pay. I have told you about its complete online application process in detail so that you can easily take a personal loan from Google Pay by applying online while sitting at home and can also avail its benefits. Friends, if you all liked today’s article then please share this article.