Hello guys,have you been thinking “How to get1Lakh Loan from Google Pay”, In the age of digital technology the ability to get loans instantly is now easier than ever. Google Pay, one of the top payment apps has entered the world of credit and debit services online in India providing small loans to meet the immediate financial requirements of individuals.
This article will explain the procedure as well as the eligibility requirements and documents needed for instant cash loans that range from Rs. 15,000 to 1,00,000 using Google Pay.
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Introduction about Google Pay Sachet Loan
Google Pay introduces Sachet Loans which offer a practical option for people who are faced with unplanned costs or temporary financial hardships. The loans, which range from to 15,000 rupees, are a great option for those who need to cover unexpected expenses. 15,000 are used to way to bridge the gap until the next payday and help users control their finances in a way that is efficient.
It is provided through collaborations between Federal Bank, Kotak Mahindra Bank, HDFC Bank, and ICICI Bank.
Requirements for Loan from Google Pay
| Loan Amount | Rs.15,000-1,00,000 |
| Rate of Interest | 14-36% |
| Duration | 7 to 12 Months |
| Age Requirement | Above 18 year |
| Income Requirement | Not required |
| Processing Fees | GST +5% |
Banks supported for Loan from Google Pay
| Bank/Company | Cards |
| Axis Bank | Visa credit card |
| Visa debit card | |
| Mastercard credit card | |
| Mastercard debit card | |
| State Bank of India (SBI),SBI Cards | Visa credit card |
| Visa debit card | |
| Mastercard credit card | |
| Mastercard debit card | |
| Kotak Bank | Visa credit card |
| Visa debit card | |
| HDFC Bank | Visa credit card |
| Visa debit card | |
| Mastercard credit card | |
| Mastercard debit card | |
| IndusInd Bank | Visa credit card |
| Visa debit card | |
| Mastercard credit card | |
| Mastercard debit card | |
| Federal Bank | Visa debit card |
| Mastercard credit card | |
| Mastercard debit card | |
| RBL Bank | Mastercard credit card |
| Mastercard debit card | |
| HSBC Bank | Visa credit card |
| Mastercard credit card | |
| ICICI Bank | Mastercard credit card |
| Mastercard debit card | |
| Visa credit card | |
| Visa debit card | |
| OneCard | Visa credit card |
| Bank of Baroda | Visa credit card |
Eligibility Criteria to get Loan from Google Pay
To be eligible for Google Pay’s Sachet Loan through Google Pay applicants must meet the following conditions:
1. Age Candidates must be 21 and 57 years old.
2. Income Direct deposit of income into the account of the person who is applying for it.
3. The Credit Score A minimum credit score that is 600 CIBIL
Document Required for Loan from google Pay
The process of preparing documents required for Google Pay Loan application is simple and consists of:
1. PAN Card
2. Mobile Number that is linked with Aadhar Card for KYC verification In addition,
3.the auto-debit facility is required to pay off loans, and can be completed quickly with NACH forms, debit cards or even net banking.
Procedure to apply Loan from Google Pay
1. Install and launch and open Google Pay for Business app.
2. Go to the category Loan and click on Offers.
3. Select the loan amount you want and click to get Started.
4. You will be taken to the site of the lending company.
5. Log into Google account. Log in to your Google account and input your the necessary personal . details.
6. Indicate the loan amount and the loan’s duration.
7. Go over the final loan agreement and then e-sign the loan agreement.
8. Submit all necessary KYC documents to be verified.
9. Configure EMI payment using Configure e Mandate or Setup NACH.
10. Fill out the loan form and you will receive the loan amount.
The loan information are available within the My Loan section of the application.
Benefits of the Google Pay Sachet Loan Instant Loan:
*Receive loans between Rs. 15,000 in a matter of 30 minutes.
*Paperless Approval:It is a hassle-free process for approval without the need for hard copies.
*Flexible Tenure:
* Select a repayment term that ranges from 7 to 12 months.
*No Income Proof Needed users who have an Google Pay account are eligible for loans in a matter of minutes without verification.
CIBIL Score Ranges Loan for Google Pay
The following are the various CIBIL ranges.
| CIBIL SCORE | MEANING OF THE CIBIL SCORE |
| NH/NA | “No history” or “not applicable” is what a NA/NH score denotes for borrowers without a credit history. It shows that there is no debt or credit card use. You can use a credit card to build credit and apply for loans in the future. |
| 300-599 | A CIBIL score of 300 to 599 is regarded as low. Credit scores of borrowers who defaulted on loans and credit cards fall into this category. It indicates that you have unpaid EMIs or credit card obligations. If your CIBIL score is in this level, it will be difficult for you to get a loan or credit card because you have a high default risk. |
| 649-550 | If your credit score falls between 550 and 649, there is little likelihood that your loan application will be granted. Although most lenders won’t grant credit to borrowers with this range of scores, it is still regarded a fair range. Financial organisations may also provide interest rates in this range that are noticeably higher. If the debtors don’t make their loan and credit card payments on time, their CIBIL score could be in this area. |
| 650-749 | Credit scores in this category are regarded as good. A loan application may be promptly granted if the score is high enough to convey to financial organisations that the applicant has good credit behaviour. Some lenders might yet impose hefty interest rates in spite of this. |
| 750-900 | 751–900 The debtors’ credit score might range from 750 to 900 if they pay off all of their loans and credit card balances on schedule. This range of CIBIL scores is regarded as exceptional. This credit score increases the likelihood of a loan application being accepted at the best interest rate. |
Check if you meet the conditions for eligibility for Google Pay Sachet Loan: –
Indian Citizenship
Age: 18 years or more –
No previous loan default history Mobile number associated with Aadhaar
Documents needed for Google Pay Sachet Loan :
The process of establishing documentation to apply for Google Pay Sachet Loan can be entirely digital and requires following: –
KYC Documents
PAN Card Aadhaar Card
– Bank Account Details
a How to Apply
1. Open or download or open Google Pay business app.
2. Visit the section for loans.
3. Select the Offer tab in order to determine the loan’s eligibility.
4. Fill in the KYC details to get the loan.
Thanks to Google Pay Sachet Loans, people can meet the immediate financial demands of their lives quickly and efficiently due to the easy application process as well as the attractive rates of interest.
Frequently Asked Questions:
1.Is google pay loan is safe or not ?
A.Yes,the google Pay loans are Safe.
2.Can I use Google Pay to borrow money?
Answer :Google Pay acts as a go-between for you and the lender. Google Pay does not evaluate your loan application or offer any loans. Only qualified customers can access loan offers via the Google Pay app’s “Loans” section.
3.What is the Interest on Google Pay Loan?
Answer: The Minimum is 14%,the Maximum is 36%.
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