Google Pay Loan: The instant personal loans available on the platform will range from Rs 30 thousand to Rs 12 lakhs.
New Delhi: Google Pay Loan: Mobile payment service provider Google Pay is offering personal loans of up to Rs 10 lakh to its users. While the platform is making the borrowing process easier by providing loans through the app, it is important to understand that Google Pay doesn’t provide any loans and just acts as a facilitator between the user and the lending partner. Also, the process of providing a loan is completely digital.
Google Pay Loan: Eligibility, Tenure, Other Details
Google Pay Loan Amount: The instant personal loans available on the platform will range from Rs 30 thousand to Rs 12 lakhs.
Google Pay Loan Interest Rate: According to the information available on the platform, the interest rate on the personal loan will start at Rs 11.1 per cent per year.
Google Pay Loan Period: The loan will be provided for a tenure of six months to five years.
Google Pay Loan Monthly EMI: The monthly EMI of the loan provided will start from Rs 2,000.
Google Pay Loan Age Limit: According to reports, the minimum age limit to be eligible for the loan is 21 years and have a regular source of income.
Google Pay Loan Repayment: The monthly EMI of the loan through Google Pay is deducted directly from your linked bank account. Users must maintain a sufficient balance to avoid a penalty.
Google Pay Loan: How to Apply?
Step 1: Open the Google Pay app
Step 2: Tap on the ‘Money’ tab at the bottom.
Step 3: Scroll a bit and click on the Personal Loan section under ‘credit for you’. According to the app, the process of applying for the loan will take only 2 minutes.
Step 4: Click on Apply Now and provide details
Step 5: Upload KYC documents and e-sign the Loan Agreements.
Step 6: After loan approval, the amount will be credited directly to your bank account.
