There is good news for Google Pay and PhonePe users. Because now both these UPI apps will provide instant loan up to Rs 5 lakh to their customers.
Even without any documents.. Let us tell you that Google Pay had already started this facility. But recently the big UPI app company (PhonePe) has also started this facility for the customers. This will benefit millions of customers.
However, some conditions have been placed. Only after completing these can you apply for the loan. If your CIBIL score is above 700 then you can apply for loan on both UPI app. Let us tell you that to take a loan from PhonePe, Google Pay, you have to take a loan from the parent company of all these apps.
For example, if a customer wants to get a loan from PhonePe, he has to get the loan sanctioned from its parent company Flipkart. Along with this, the customer’s CIBIL score should be above 700. Apart from this, it is necessary for the customer to have PAN card and Aadhar card.
This is the process: If you want to take a loan through Google Pay, then first of all open the app. After this select the loan option in the money option. After this you will see different types of loan offers here.
In this, choose the option of pre-approved loan. Here you have to choose the loan amount and repayment time. After this, take a loan by clicking on the option of charge. After that select Continue Next.
After this, after filling all the details, send the OTP on the mobile. The app will verify your loan as soon as you enter the OTP in the app. Similarly, application can also be made on phone pay. After completing this process, the loan amount will be transferred to your UPI account.
