Google Pay Personal Loan Apply online: Most of us use Google Pay for everyday needs – to distribute dinner bill, send rent to the landlord or to pay the money to the tea seller by scanning the UPI. But behind the curtain, the app is evolving quietly. As a surprising but welcome step, Google Pay has now entered the world of digital debt, giving personal loans up to Rs 10 lakh.

With this new feature, the app has moved far beyond the facility – making the loan even more accessible, easy and just a few taps. Google Pay, commonly known as GPAY, is one of the most popular digital payments platforms in India. It offers a simple, fast and safe way to send and receive money using UPI, pay bills, recharge mobile services and do much more.

Remarkable, Google Pay does not provide any loan and only serves as a feature between the user and the lending partner. Also, the loan giving process is completely digital. In addition, loans are given through registered financial institutions and partnership with NBFC.

Hidden characteristics of Google Pay:
Google Pay makes users easier for users in India. The app is designed for convenience, from distributing bills with friends to earning a cashback through scratch cards without the need for a separate app. It also allows users to set autope for their favorite subscription, ensuring that the payment is never missed. Apart from this, the bank balance check is just a tap away – this does not require logging on the net banking platform.

Google Pay Lone: Eligibility and Reportation
To be eligible for personal loans on Google Pay, your age must be at least 21 years and you must have a job or self-employment. Your bank account should be connected to Google Pay and the user must complete KYC verification during the loan process. The EMI of the loan will be automatically cut from your linked bank account every month, so be sure to maintain enough balance to avoid penalty.

Google Pay Loan: Amount, Interest Rate and EMI
The new personal loan offer starts from Rs 30,000 to users immediately to credits up to Rs 10,00,000 based on their financial profile. These loans come with competitive interest rates starting from 11.25 percent per year. To make repayment easier, borrowers can choose flexible periods from 6 months to 5 years. In addition, the monthly EMI of the given loan will start from Rs 2,000.

Google Pay Lone: How to apply online
Step 1: Open the Google Pay app on your phone.

Step 2: Tap on the 'Money' tab under the screen.

Step 3: Scroll below and click on 'Personal Loan' section under 'Credit for You'.

Step 4: Tap on 'Apply now', fill the required details and upload your KYC document.

Step 5: On approval, the loan amount will be deposited directly to your bank account.