When Google rebranded the Tez app to Google Pay they revealed that soon there will be an option to take a loan right from the app. If sources are to be believed, Google is partnering with top Indian banks like HDFC to offer customized loans to its users.
In this post we will talk about how one can apply for a loan in Google pay and what is the procedure and eligibility to take the loan.
5 Things You Need to Know About Google Pay Loan
- First thing first, Google pay has NOT started the loan facility yet but you can expect it by the end of this year or next year (2020).
- You will not be able to decide the loan amount in Google pay, rather banks will examine your account and past transactions and they will assign you the loan amount based on that.
- Google Pay will have a seperate section for loans in their app itself where it will show you how much loan you can take from it.
- These will be instant loans, meaning you will have almost no paperwork as you need to do in banks. Once you apply for loan, the amount will be added to your bank account directly.
- It will also have auto-payments option which will deduct the EMI amount before the deadline.
But Google Pay Loans are not yet live, so what’s alternate solution?
We will suggest some popular apps like Kreditbee, Indiabulls Dhani, EarlySalary, Mobikwik and Lazypay in case your are looking for Google pay loan alternatives.
Let’s us know your thoughts on this!
from SpyCoupon http://bit.ly/2KD1q2j
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