PhonePe Personal Loan Apply 2024

PhonePe Personal Loan Apply 2024: PhonePe is a mobile application which is used by everyone today for digital transactions. You may also be using it, but do you know that PhonePe also approves loans in collaboration with third parties. If you need a personal loan, then you can fulfill your need by taking a personal loan from PhonePe because it is very easy to take a personal loan from PhonePe. You can get a loan approved up to Rs 5 lakh within 10 minutes sitting at home.

PhonePe Personal Loan Apply 2024

But to apply for phonepe personal loan, you must have knowledge related to the loan. If you do not know about it, then it does not matter, further we will tell you how to apply for PhonePe personal loan online and how will you get a personal loan from PhonePe? Will give complete information about this. We will also tell you about Phonepe Personal Loan Eligibility, Interest Rate and Documents etc. For more information you remained in this article till the end.

How to get personal loan on PhonePe?

If you want to take a loan from PhonePe, then first let us tell you that you cannot take a loan directly from PhonePe. PhonePe approves the loan with the help of third party application. PhonePe gives loans through some partnership companies, so for PhonePe Personal Loan, you will have to download the app of the partnership companies and apply for the loan.

Phonepe Personal Loan Interest Rate

The interest rate on phone pe personal loan depends on the terms and conditions of the third party application. You will have to pay the interest rate as per the terms and conditions of the application through which you apply for PhonePe Personal Loan.

Suppose you apply for a loan from Money View, then you may have to pay interest up to 15.96%. Apart from this, you will have to pay processing fee which can range from 2% to 8%. On Money View you can take a loan for a period ranging from 3 months to a maximum of 5 years and the terms and conditions of other applications may be different.

Eligibility to take PhonePe Personal Loan

To take loan from PhonePe, you have to agree to some terms and conditions which are as follows –

• Only Indian citizens can apply for PhonePe Personal Loan .
• To avail a personal loan from PhonePe, you must be at least 21 years of age or older.
• You must have all the KYC documents.
• It is necessary for you to have EKYC i.e. your Aadhaar number should be linked to the mobile number.
• You must have an active bank account and the Aadhaar number should be linked to the bank account.
• PhonePe should be active in your mobile and your bank account should be linked to PhonePe.
• Salaried individuals and self-employed people can apply for Phone Pe loan.
• Your monthly income should be at least Rs 25 thousand and you should have income certificate.
• It is necessary to have a good CIBIL score for a personal loan.
• You should have a good record of financial transactions and you should not be a defaulter.

Required documents for PhonePe Personal Loan

To take a personal loan from PhonePe, you must have the required documents, such as –

• Aadhar card
• PAN card
• bank account
• Bank statement
• salary slip
• aadhaar link mobile number
• A selfie etc.

How to apply online for PhonePe Personal Loan?

If you do not know how to get a personal loan from PhonePe and you want to apply online for PhonePe Personal Loan, then you can get the loan in a few minutes by following the process given below –

• First of all you have to download PhonePe App from Google Play Store.
• After this you will have to register in the app with your mobile number.
• After this you will have to link your bank account with UPI ID.
• You will have the option of “See All” near the Recharge & Bills option in your dashboard, you will have to click on this option.
• After this, you will see the names of some third party companies under “Recharge & Pay Bills”, such as – Bajaj Finance LTD, Buddy Loan, Home Credit, kreditbee, Moneyview, Avail Finance, Navi etc., the company from which you want to take loan. Yes, it has to be selected.
• Suppose you want a loan from Moneyview, then download this app from Google Play Store.
• After this, you will have to open it and register with the same number with which you had registered on PhonePe.
• Now a new page will open in front of you where you will have to give some personal information.
• All the offers of personal loan will be available in front of you, you can choose any plan as per your wish under Select Your Loan Plan.
• After this, you will have to enter the details of banking etc. and upload the necessary documents.
• After doing this, as soon as the loan is approved, your loan amount will be transferred to your bank account within a few minutes.

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