Google Pay Personal Loan 2025: Google Pay has taken a new step in the world of digital payments. Now this platform is not only known for digital payments but also provides instant personal loan facility. Let’s know about this feature in detail.
Google Pay Personal Loan 2025
Introduction and development of Google Pay
Launched on January 18, 2018, Google Pay has revolutionized the Indian digital payments sector. The platform offers many features like voting pass, student ID card, e-ticket, movie ticket and transport ticket. Now with the addition of personal loan facility it has become more useful.
Features of Personal Loans
Personal loan amounts available on Google Pay range from ₹10,000 to ₹8,00,000. The most important thing is that this loan is available in your bank account in just 5 minutes. This feature is provided through sponsored links.
Interest rates and processing fees
The annual interest rate on these loans ranges from 6.85% to 12.85%. The processing fee charged is 1.75%, which is quite competitive compared to other options available in the market. This lower interest rate makes the loan more attractive.
Eligibility Criteria
A person applying for a loan has to fulfill certain basic criteria. Applicant should be a citizen of India and should be between 18 to 58 years of age. Also, a CIBIL score of more than 685 is also required.
Necessary documents
Some important documents are required while applying for a loan. This includes Aadhaar Card, PAN Card, Mobile Number, Email ID and Bank Statement. Linking mobile number with Aadhaar is also mandatory.
Application Process
The process of applying for a loan on Google Pay is very simple. First of all download Google Pay app from Google Play Store. Select the Personal Loan option under Sponsored Links in the app. Enter your PAN number and mobile number. Complete the video e-KYC process and fill the required information.
Deadlines and approvals
Loan amount gets transferred to your bank account within 24 to 48 hours after application. This quick process makes Google Pay personal loans an even more attractive option.
Security and Privacy
Google Pay places the highest priority on the security and privacy of its users. All transactions are encrypted and adhere to the highest security standards.
Google Pay’s personal loan option is a great example of financial services in the modern digital age. It provides easy, secure and fast financial solutions. The applicant only has to ensure that he/she fulfills all the eligibility criteria and the necessary documents are available.
