Recently, Google India has started the facility of giving loan (GPay Loan) through Google Pay application to help small traders. Google India said that merchants in India often need small loans. You can apply digitally for instant, business, or personal loans on the Google Pay for Business app.
Features
- No collaterals, branch visits or hidden charges
- Quick approvals and fast disbursal directly to your account
- Fixed duration, fixed EMIs and a low processing fee
Important: Loans are brought to you by Google Pay for Business in collaboration with financial institutions.
How to apply?
- Open the Google Pay for Business app Google Pay.
- Go to the Loans section and then Offers tab.
- On your selected loan on GPay, tap Get started.
- You’ll be redirected to the lending partner’s website.
- Sign in with your Google Account.
- Provide your personal details.
- Choose the loan amount and duration.
- Review the final loan offer and e-sign the loan agreement.
- Upload your Knowing Your Customer (KYC) documents.
- To set up EMI payments, tap either Setup eMandate or Setup NACH.
- Submit your loan application.
- If you leave the application midway, to restart it, go back to Offers tab.
- After disbursal, in the “My Loans” section of the Google Pay for Business app, you can review your loan status.
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