PhonePe Personal Loan Apply Online 2024 : PhonePe is a mobile application widely used for digital transactions today. Many of you might be using it, but did you know that PhonePe, in collaboration with third-party applications, also offers personal loans? If you need a personal loan, you can easily obtain one through PhonePe. You can get a loan approved up to ₹5 lakh within just 10 minutes from the comfort of your home.
However, to apply for a PhonePe personal loan, you need to have some essential information. If you don’t know how to proceed, don’t worry. In this article, we will guide you on how to apply for a PhonePe personal loan online and the steps to get your loan approved.
We will also discuss the eligibility criteria, interest rates, and the required documents. For detailed information, stay with us till the end of this article.
- Loan Type Personal Loan
- Loan Amount ₹10,000 to ₹5,00,000
- Processing Fees 2% to 8%
- Partnership Flipkart, Bajaj Finserv, Kredit Bee, MoneyView, PayMe India, Navi App, etc.
- Loan Approval Process Online
- Official Website : https://www.phonepe.com/
- Only Indian citizens can apply for a PhonePe personal loan.
- You must be at least 21 years old.
- All your KYC documents should be in order.
- Your Aadhaar number must be linked to your mobile number.
- You should have an active bank account, and your Aadhaar number should be linked to it.
- Your PhonePe app should be active and linked to your bank account.
- Both salaried and self-employed individuals can apply for a PhonePe loan.
- Your monthly income should be at least ₹25,000, and you must have income proof.
- A good credit score is necessary for a personal loan.
- Your financial transaction history should be good, and you should not be a defaulter.
- Aadhaar Card
- PAN Card
- Bank Account details
- Bank Statement
- Salary Slip
- Mobile number linked to Aadhaar
- A recent selfie
- Download the PhonePe App: First, download the PhonePe app from the Google Play Store.
- Register: Register on the app using your mobile number.
- Link Your Bank Account: Link your bank account with the UPI ID.
- Navigate to Loan Options: On the dashboard, click on the “See All” option next to Recharge & Bills.
- Choose a Loan Partner: You will see several third-party companies listed under “Recharge & Pay Bills” like Bajaj Finance LTD, Buddy Loan, Home Credit, Kreditbee, MoneyView, Avail Finance, Navi, etc. Select the company you wish to get a loan from.
- Download the Partner App: For example, if you want a loan from MoneyView, download the MoneyView app from the Google Play Store.
- Register on Partner App: Open the app and register using the same number you used on PhonePe.
- Provide Information: Fill in the required personal details.
- Select Loan Plan: Choose a loan plan that suits your needs.
- Submit Documents: Enter your banking details and upload the necessary documents.
- Loan Approval and Transfer: Once the loan is approved, the loan amount will be transferred to your bank account within minutes.