You must be using Google Pay. It is an application that provides online banking service through which you can easily do various types of transactions. Google Pay offers personal loan. You can apply for Google Pay personal loan from home and take a maximum loan of Rs 5 lakh. For this, many documents are not required, you can get a loan with only KYC documents. In this article you will get all the information related to the loan.
Purpose of Google Pay Personal Loan
The purpose of Google Pay Personal Loan is to provide easy loans to businessmen. So that businessmen can start their small work. Any businessman or any other person can easily take this loan and very easily a person can deposit the loan in small installments.
Loan Benefits
- Through Cash Sport on Google Pay, one can avail a loan of up to Rs 4,00,000 on easy EMIs of 3 to 18 months.
- The loan can be used to meet any personal need except risky activities.
- The applicant can avail this loan without pledging any of his belongings.
- You can take a completely paperless loan on Google Pay.
Loan Eligibility
- The age of the person applying should be between 21 to 57 years.
- Income should be deposited directly into the applicant’s bank account.
- A credit score of at least 600 on CIBIL or 650 on Experian is mandatory.
- To avail Google Pay Personal Loan, one must be an Indian citizen.
- The applicant must know how to use Google to avail Google Pay Personal Loan.
Documents required for loan
- Aadhar card
- PAN card
- Passport size photo
- Bank account statement for the last 6 months
- Mobile Number
- email id
Loan Application Process
- To avail Google Pay personal loan, you need to download Google Pay application on your mobile phone from Play Store.
- After downloading, you have to sign up through your email ID and mobile number.
- After this, it will ask you for the account number and you will have to link your account number to Google.
- After this a new dashboard will open in front of you.
- An option of loan will appear in that dashboard, you have to click on that option.
- After that the application form will open in front of you.
- Now you have to fill the requested information in that application form.
- After filling the form, you will have to verify the OTP through your mobile.
- After this you will see the submit option, you have to click on it. The application submitted by you will be checked on Google, if your application is completely correct then you will be provided with a loan.
- If your application is correct, you can be provided a loan ranging from Rs 10,000 to Rs 10 lakh.