Google Pay Loan: Nowadays most people use Google Pay (GPay) for online payment. This app is not limited to just sending money and paying bills, but now it also offers loan facility . If you need money immediately, you can apply for a loan directly from your mobile through Google Pay App.
What is Google Pay Loan?
Google Pay has started the facility of giving loans in collaboration with some selected banks and NBFCs (Non-Banking Financial Companies). This loan is completely online and you do not need to go to the bank for this. In this, you can get a personal loan , which you can use for any of your needs like studies, household expenses, travel or any personal work.
Eligibility for Google Pay Loan Apply
If you want to take a loan from Google Pay, there are some basic conditions:
- Your age must be above 21 years.
- You must have an active Google Pay account .
- You should have a source of regular income (Salary/Business).
- Your CIBIL Score should be good as per the terms and conditions of the bank or NBFC .
How to Apply Loan from Google Pay?
- First of all open Google Pay App in your mobile .
- Look for “Loan” or “Offers” option on the home screen.
- If you are eligible then the loan offer will be visible there.
- Click on it and select Loan Amount and Repayment Period.
- Complete KYC process (need to upload Aadhaar, PAN etc.).
- The bank will verify your information.
- After verification is complete, the loan amount will be directly transferred to your bank account.
Loan Limit and Interest Rate
- The loan limit on Google Pay varies from user to user.
- Usually it can be a loan ranging from ₹10,000 to ₹5,00,000 .
- The interest rate is decided according to the bank and NBFC, which can be around 12% to 24% .
- Repayment period can be from 3 months to 36 months.
Advantages of Google Pay Loan
- Completely online and fast process.
- Without much paperwork.
- Loan Directly into your Bank Account.
- Flexible Repayment Option।
Conclusion
If you suddenly need money and want to take a loan immediately, then Google Pay Loan is a good and easy option. But keep in mind that you should always take a loan wisely, because interest has to be paid on it. It is very important to make the repayment on time, otherwise it can have a negative impact on your CIBIL score .
