Get instant personal loan up to Rs 10 lakh from Google Pay – Know eligibility, interest rate and application process

If you suddenly get stuck in need of money and do not feel like standing in the bank queue, then Google Pay has become a smart option for you. Yes, now Google Pay is not just a payment app, but has also become a platform to get you instant personal loan from home.

Loan can be availed from 30 thousand to 10 lakhs

Google Pay is now providing instant loan from Rs 30,000 to Rs 10 lakh in collaboration with many reputed banks of the country. The loan tenure can be from 6 months to 5 years as per your convenience. This entire process is completely digital, without any paperwork hassle.

How much interest will have to be paid?

You may have to pay an interest rate of about 10.50% to 15% on this loan, which depends on your credit history and score. Interest rate The better the credit rating, the lower the interest.

What is the eligibility?

The applicant must be at least 21 years of age
It is necessary to have a permanent source of income
There must be an active bank account and mobile number

How to apply for a loan?

The process of taking a loan from Google Pay is very simple:

Open the Google Pay app
Go to the ‘Money’ section
Select the ‘Loans’ option
Click on the offer that appears
Upload the necessary information and KYC documents
E-sign the loan agreement
Once the loan is approved, the amount will be directly transferred to your bank account

How will the EMI be deducted?

After taking the loan, every month’s EMI will be automatically deducted from your linked bank account. Therefore, it is important that there is sufficient balance in your account before the EMI date to avoid any kind of penalty. During the application, you are also shown the complete repayment schedule.