Phone Pay Loan Process 2024: As you all know that PhonePe is a mobile application which is used for digital transactions. Nowadays most of the people are using it. Whether it is to buy goods from a shop or to pay someone in the office, PhonePe is being used everywhere. But now loans can also be taken from PhonePe. Recently, Bengaluru-based fintech company PhonePe has started this in collaboration with many non-banking companies.
Phone Pay Loan Process 2024 Types The company has initially launched 6 types of credit products, which include
- Loan against Mutual Funds,
- Gold Loan,Two-wheeler and Four-wheeler Loan
- Home Loan,Loan against Property
- Education Loan.
However, taking personal loan through PhonePe has also become easy.
Phone Pay Loan Process 2024 Limit and Fast Loan
Process It is being told that according to media reports, the limit of personal loan from Phone Pay has been kept from Rs 10 thousand to Rs 5 lakh. Its biggest advantage is that now common citizens will not have to visit the bank and they can take a loan online within 10 minutes. For this, one can apply on Phone Pay in four easy steps. First, select your loan on the Phone Pay application. Then enter your information. Now you have to do digital KYC. Lastly, set the re-payment option.
Phone Pay Loan Process 2024 Companies
Phone Pay is doing this Phone Pay Loan Process 2024 plan in collaboration with many big companies, which include NBFCs like Tata Capital, L&T Finance, Hero Fincorp, Muthoot Fincorp, DMI Housing Finance, Home First Finance, Rupee and Volt Money. If seen, PhonePe has about 535 million users. Benefits of PhonePe Loan First of all, PhonePe loan approval and payment transfer work is done in less than 10 minutes, which makes it fast and convenient. The application process is completely online and through the mobile app, making it very easy. It requires fewer documents, which reduces paperwork.
Phone Pay Loan Process 2024 Eligibility
There are some eligibility to take a loan from this application. First of all, the applicant must be an Indian citizen and must be 18 years of age or older. Aadhar card and PAN card are required. The applicant must have a source of income and have a good credit score.
Phone Pay Loan Process 2024
To get a loan from Phone Pe, first download the PhonePe App from Google Play Store or App Store and link your bank account. Then go to the “My Money” section in the app and select the “Loan” option. Choose the loan amount and duration as per your requirements. Upload the required documents like Aadhaar card, PAN card, bank statement, and salary slip and submit the application with your details and documents.
PhonePe will confirm your application and send you a message about the loan approval process. The loan amount will then be credited directly to your bank account. For more information, go to the “My Money” section in the PhonePe App and select the “Loan” option or visit the PhonePe website. Customer care can also be contacted.
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