Hello friends, I welcome you all to today’s article. Friends, we will inform you about how to take a personal loan from PhonePe. Friends, in today’s time, digital technology has made our financial needs easy and convenient. PhonePe, the leading app providing lending and payment facilities, has now launched the facility of personal loan through its platform. PhonePe has simplified the financial process by giving customers the option of applying from home and getting quick approval. If you’d like to take out a personal loan through PhonePe, you can easily do so, as detailed in today’s article. For this, you’ll need to read this article carefully to the end.
What is PhonePe Loan?
PhonePe, which was earlier known as a payment app, now also offers lending facility. Through this you can avail personal loan without any complications. The process of availing digital loan on PhonePe app is completely online and loan approval and disbursement is done very fast. PhonePe Loan aims to support users who need immediate financial assistance. If your loan eligibility is met, you can avail loan ranging from Rs.5000 to Rs.2 lakh and that too without any additional paperwork.
Eligibility for PhonePe Personal Loan
- The minimum age of the applicant taking personal loan from PhonePe should be 21 years and maximum age should be 60 years.
- The applicant seeking the loan must be a permanent resident and must have proof of the same such as Aadhaar Card, ration card or electricity bill etc.
- Applicant must have a stable income source. Income from a salary or self-employment is accepted.
- A good credit score is required for a PhonePe personal loan. PhonePe generally recognizes credit scores of 650 and above. If you have a good credit score, you won’t have any problems getting a loan approved.
- The applicant taking a personal loan from PhonePe must have an active and verified PhonePe account.
How to take loan online from PhonePe?
- To take a loan from PhonePe, first of all you will have to download the PhonePe App on your mobile phone.
- After downloading, you will have to open this PhonePe App in your mobile phone and login with your PhonePe account.
- After that you will reach the home page of the app and there you will find the option of Loans on which you will have to click and after that you will get information about various loan options.
- After that, you will have to select the loan amount and the loan tenure which can generally range from 3 months to 24 months. You can choose the EMI tenure as per your convenience.
- After that, PhonePe gives you the option to check your eligibility for the loan and after that you will be told how much loan amount you can take.
- To take a loan with PhonePe, you need to provide your KYC documents. You must upload this information to the PhonePe app itself. This process verifies your identity and eligibility for the loan.
- After that, if your loan application is approved then the loan amount will be transferred to your bank account.
- You will then be required to pay your loan EMIs on schedule. You can make EMI payments directly through the PhonePe app.
conclusion –
Friends, in today’s article, we have given you information about how to take a personal loan from PhonePe. We have explained its entire online application process in detail so that you can easily take a personal loan from PhonePe by applying online from the comfort of your home and can also avail its benefits. Friends, if you all liked today’s article, then please share it.