Google Pay Personal Loan: Nowadays If you want to take a loan, you no longer need to visit banks or financial institutions. Now you can get a personal loan of up to 5 lakh rupees easily from your home through Google Pay. In this article, we will explain everything you need to know about Google Pay Personal Loan. Including how to apply online, required documents, and eligibility criteria for loan.
Google Pay makes it simple personal loan without visiting banks. This article will help you to understand the easiest way to apply for a personal loan through Google Pay.
Purpose of Google Pay Personal Loan
The main purpose of Google Pay Personal Loan is to eliminate the lengthy processes involved in bank loans and provide easy loans. It is specially designed for middleclass who need small loans for personal use. Google Pay offers loans with simple terms and conditions, allowing users to repay the loan in small affordable installments. This makes it easy for people to get the financial support without visiting banks.
Interest Rate for Google Pay Personal Loan
When you applying for Google Pay Personal Loan, you will be informed about interest rate. Loan Amount is depend on your job profile, income, and credit history. Generally, the interest rate for Google Pay Personal Loans differs from 14% to 36% per annum. This rate may vary depending on the your financial profile and CIBIL.
Repayment Period for Google Pay Personal Loan
If you apply for a personal loan through Google Pay, you may get a a 3 to 5 years repayment period, depending on your eligibility profile.
Google Pay Personal Loan Eligibility Criteria
Before applying for a personal loan on Google Pay, first check the following eligibility criteria:
- The applicant must be Indian citizen.
- A good CIBIL score is required for this loan.
- The age of the applicant should be between 21 and 57 years.
- Both salaried and self-employed persons with a steady income source are eligible.
- You must have a bank account linked to Your Aadhaar card.
How to Apply for Google Pay Personal Loan
Follow these easy steps to get your loan:
- First download the Google Pay app from the Google Play Store on your mobile.
- Sign up using your email ID and mobile number.
- Once signed up, link your bank account with Google Pay.
- After that app’s dashboard will open. Click on the option “Manage Your Money” under “Business and Bills” .
- From List options, choose “Google Pay Loan”.
- Click on “Start Your Loan Application”.
- The Google Pay Loan Application Form will open, Fill it carefully.
- After filling in all the details, verify your identity using the OTP sent to your mobile number.
- Once verified, click the submit option to send your application.
- Google Pay will check your eligibility and show you the loan amount you qualify are for.
- Select the loan amount you want to take and choose your EMI amount to complete the application process.