How to get loan from phone pay?

Do you want to take a loan from phone pay? Are you looking for how we can get a loan from phone pay? Do you want to know the advantages of taking a loan from phone pay? Do you want to know what are eligibilities to take a loan from phone pay?

If your answer is yes? Then this blog post is for you. In this blog post, you will get answers to all the above questions. Also, you will get some answers of faqs on how to take a loan from phone pay?

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So let’s dive into how to get a loan from phone pay?

How To Get a Loan From Phone Pay?

It is very easy to take a loan from Phone Pay. Just Follows the following steps and you are able to take a loan from phone pay.

Step 1: At first we need to register at flipkart.com

Step 2: After registering to Flipkart you will get the option of Flipkart Pay Later.

Step 3: Choose Flipkart Pay Later Option. & Upload your required documents.

Step 4: After that, you get your loan limit According to your score.

Step 5: After this, you have to open your phone pay account.

Step 6: Then click on my money in the phone payment option.

Step7: According to step 4 your loan will be shown in my money section.

Step8: You can use your loan.

In this way, you can take a loan from phone pay. Real phone pay does not actually provide loans it takes the help of Flipkart. Now let’s see some more points that you should consider.

Advantages Of Taking Loan From Phone Pay

There are many advantages of taking a loan from phone pay. Here is a list of taking loans from phone pay:

  • Very easy to take a loan.
  • Fewer documents are required.
  • Secure & Safe
  • No interest

If you are looking to take a loan for shopping purposes then taking a loan from the phone is the best option. Phone pay loan is created for only shopping purposes. If you want to buy smartphones, tablets, laptops, etc then you can go with a phone pay loan.

But if you want to take the loan for business or other needs then it is not the best option you can go with other providers like bajaj

Why choose a phone pay business Loan?

Phone pay is the best option to take a loan for shopping purposes. It is also considered a personal loan. There are many reasons to choose phone pay as your personal loan buddy. Here are some reasons:

  • It is 100% online.

If you want to take a pure online loan then you can look towards phone pay. To take a loan from phone pay you do not need to go to any offline office. It is very best for students who want to order their acquires from an online store.

  • No need to pay interest.

One of the best features of this phone pay loan is that you do not need to pay any interest. Because it does not provide long time loans. You have to return this money within 45 days.

  • Instant loan in your bank account.

As you complete their process your money will be added instantly to your bank account. So if you are in hurry then phone pay will act as your true friend. Like other loan providers, it does not take time to process your approval.

  • You can get this loan all over the country.

If you are from any state in India you can easily apply for this loan.

  • Fewer Documents are needed to take a loan from this.

Other Loan providers in the market take your lot of documents. In an emergency, this feature is very important. Especially if you are a student this feature will help a lot.

Eligibilities Of Taking Loan From Phone Pay

To take a loan from phone pay you must follow or consider the following criteria:

  • To use the phone pay loan feature you must a citizen of India.
  • To use the phone pay loan feature your age should be between 16 – and 69 years.
  • To use the phone pay loan feature you must be self-employed or salaried
  • You need to have some must-have documents that are mentioned below in order to use the phone pay loan feature.

How to take a business loan from phone pay

If you are looking to take a business loan by the phone. Then you should know that phone pay does not provide loans for business purposes. If you want to take a loan for business purposes then you can go with a bajaj business loan or other loan providers.

What is the Interest rate of phone pay Apps?

There is no need to pay an interest rate on taking a loan from phone pay. Because you have to return this money within 45 days. Phone pay does not provide their loan for

Documents for phone pay app

To use the phone pay loan feature you need to have the required documents as I mentioned in requirements. It is a very amazing feature of phone pay that you do not need to have a bunch of documents to get a loan from phone pay. Here are two documents that you need to get a loan from phone pay:

  • Id proof.
  • Address proof.

Faqs On how to take a loan from a phone pay app

Can we take a loan from phone pay?

Yes, with the help of the phone pay later option you can take a loan from phone pay.

What are the interest rates of phone pay loans?

You do not need to pay interest in order to take a loan from phone pay.

In how many days do we need to return this loan?

Within 45 days you need to return your loan.

What is the minimum and maximum amount that we can take a loan from phone pay?

Minimum: 10,000 rs & Maximum: 50,000

Can we take a business loan from phone pay?

No, it is not a business loan. It is used as a personal loan.

Conclusion on how to take a loan from a phone pay app

I hope that you understand how to take a loan from phone pay. If you like this blog post you can share this blog post with your friends. In this blog post, you also got information on how to use the feature of pay later on Flipkart.

So if your any friend don’t know about this feature then you can share this blog post with that friend to get information on how to use the pay later option.