Phonepe Loan 2023 : How to get Loan, Customer Care, Repayment

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Phonepe loan : Money is one of the most important things in anyone’s life. You can’t live happily without money. From buying a small thing to bing a thing you need money, in short, we can say that the Financial condition of anyone can’t be same as always.

हिंदी में पढ़े फोनपे लोन कैसे मिलता है

Here we will help you to know about how you can get phonepe loan, how to apply for Phonepe loan, Phonepe loan eligibility criteria etc. We will share the complete guide to getting money from your personal needs, business needs, shopping needs, etc. Also, you will learn about how to apply for PhonePe loan, documents requirements for PhonePe loan, what amount you can get from phonepe, and what percentage of interest Phonepe charges for a loan.

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What is PhonePe ?

Did you know? The best UPI and BHIM payment application in India is PhonePe. Yes, PhonePe recently became the most-used payment application in India.

Now, PhonePe is nothing but a payment software company. It is an Indian-based digital payment and financial technology company. The company was founded at the end of 2015 by Sameer Nigam, Burzin Engineer, and Rahul Chari. The headquarters of this software company is located in Maharashtra.

Interestingly, the parent company of PhonePe is none other than Flipkart. As of the financial year 2020-21, PhonePe alone created revenue of Rs 690 crores which values at $86 million US. They were able to achieve such huge revenue because of their list of services on offer. You get so many financial services from PhonePe some of them are an investment, insurance, recharge, loans, and many more.

Now, further, in this article, we will specifically talk about the PhonePe loan and everything related to it.

Before moving ahead, Let’s try to understand what is Phonepe? PhonePe is an Online Transaction, recharge, and Bill Payment App. With this app, with the help of Bhim UPI, you can transfer money, Recharge your Mobile, Pay your electricity bill, and so on.Moreover phonepe provides superior cashback rewards as users apply cashback tricks for google pay .But today, with this article, you will learn about how to get a loan from Phonepe?

Read This: How to Get Mudra Loan up to 10 Lac ?

What is PhonePe Loan?

PhonePe Loan is one of PhonePe’s specialties. You get exciting loans using the payment application. Now, getting a loan might be easy but, certain requirements, terms, and conditions need to be met.

Now, the PhonePe Loan is a perfect option or opportunity if you are willing to start a new business or buy a product. If you need funds to market your unique product you can easily take up a PhonePe loan. Using PhonePe, you can easily get your loan pre-approved by a simple process managed and operated by PhonePe.

Interestingly, within 30 minutes you can get a pre-approved loan from the payment application company. You need to complete the process before getting the final approval. Now, to transfer the money, the Unified Payments Interface (UPI) of PhonePe is used.

Now, UPI is an instant real-time payment system that is used by almost every payment application company. Not only PhonePe but, PayTM, and GPay also use this payment system. The interface of this payment gateway is very user-friendly and easy. Transactions are received and made very easily and smoothly using this payment system. This feature has been a great initiative taken by PhonePe.

But, people have started to wonder what will be the interest rate. Even getting a loan from a bank has been easier but, what about the interest rate that will be charged while returning the loan amount? Now, this is where most people confuse themselves about which platform is the best to get a loan. Without a doubt, we can say that getting a loan using the PhonePe application is a good and one of the best ways.

What is the Interest Rate for PhonePe Loan?

If you are planning to seriously take a loan for anything then you need to know the interest rates. Make sure you do not fall into a trap when taking a loan. Always ensure you are taking a loan with full valid documents and from a valid source only. Now, the interest rate or the charge fees for your loan return from PhonePe is quite interesting.

Getting a loan from PhonePe will get you 45-day interest-free loan. Now, this is quite interesting, where do you get an interest-free loan nowadays? PhonePe is the one that offers the first 45 days of interest-free loans to any users who have taken a loan from the company. Now, if you pay the full loan amount within the interest-free period, then simply no extra charges will be applied to you by PhonePe.

But, if you have taken a loan for a longer period then an interest rate will be applied to your loan. The interest rate of PhonePe ranges from 0 to 46%. Now, this interest rate of a loan is calculated annually from PhonePe. Additionally, we would highly recommend you always pay your loan on time to have a strong CIBIL score.

A good CIBIL score will help you good amount of loan and might be at a low interest. Now, the interest rate depends on the amount of loan you have taken. It also applies to your loan amount over periods like daily, monthly, or annually. Additionally, the interest rate may vary on supply, demand, maturity, amount of collateral, and many more.

Does PhonePe Provide Loan?

PhonePe doesn’t provide loan directly, but phonepe help you to get the loan from their parent company Flipkart. To get the loan you need to connect with both apps.

1Application process (Online/Offline)The phonepe loan application process is available online on Phonepe app
2Documents RequiredAdhaar Card, Pan Card, Mobile number linked with bank & Adhaar
3FeaturesThe Phonepe loan is totally interest-free for the first 45 days.
4Eligibility criteriaThe only requirements is that your CIBIL score should be more than 700. You can only use the phone number which is linked to your account
Phonepe loan process

How to Get PhonePe Instant Loan?

To Get PhonePe Instant Loan without Intrest, firstly you need to download PhonePe App from the play store and register with PhonePe. Along with the PhonePe, you need to download the Flipkart App and register with the app by the same number you had with phone pay.

"Phonepe loan kaise lein" with phonepe logo
How to get phonepe loan

Once, the registration is completed, you need to visit your profile segment and activate the Flipkart Pay Later Option. With this activity, you need to submit some documents as required by Flipkart.

Before even applying for a PhonePe Loan one must be eligible. Anyone simply cannot apply for a PhonePe loan. All the requirements set by PhonePe must be met to get the final approval of the loan that you are willing to ask them. Some of the eligibility criteria set by PhonePe to get a loan are the following:-

  • Must be of the legal age
  • The CIBIL score must be above 700 to get a fully approved loan
  • Your mobile number must be linked to your Aadhar card
  • The individual must have a checking account
  • Both your Aadhar card and bank account must be connected to your mobile number

These are some requirements to get a PhonePe loan. Now, how to get a PhonePe Loan? The process for getting a PhonePe Loan is given below:-

  • PhonePe application must be installed on your mobile phone
  • Use the number that is linked to your Aadhar card, PAN card, and bank account
  • Use the same number that you use for your Flipkart account
  • Fill out the KYC form on Flipkart with proper and updated details. You will have a choice to use Flipkart Pay Later and the KYC will be successful will be completed
  • After the KYC has been submitted successfully your loan amount will be credited to you shortly
Phonepe loan

Read This: How To Get a Bank Of Baroda Loan? Personal Loan, Educational Loan, Business Loan

What Amount of Loan Can we get PhonePe Instant Loan?

The loan amount always matters because the loan amount is for fulfilling your needs. In case when loan amount will not be sufficient then it will be useless. Herewith PhonePe, You can get loans starting from 10,000 to 50,000 Instantly. It’s similar to a Credit card, where you can get a loan with any interest.

PhonePe Loan Interest Rate

If you are planning to get the phonePe loan then you can avail of the 45 days, Interest-free loan. After you need to pay the interest rate. The loan is free of interest for the first 45 days. It’s the simplest method to get loans. Also, it does not require any documentation.

Phonepe loan process
Phonepe banner with logo

There is a modest cost for each loan taken out through PhonePe the brand new platform for micro-lending. They offer an annual rate of interest of 0% up to 46 percent, which is less than the typical rate that other lending companies charge.

Advantages of PhonePe Loan

Minimum documents required For obtaining personal loans, you must send the lender the name of your address and the most recent bank statement. Digital Process Through the web-based platform, you can request a loan without ever needing to step foot inside the bank.

To make it even simpler it is not necessary to fill out need to fill out paperwork or applications to fill out. In the event that you’ve got a poor rating on your credit report, then you might be eligible for an amount that is lower.

PhonePe Loan duration

Loan duration always matters why because it’s all about paying money to the lender. For a seeker, long duration is much more important than the short terms. For phone pay loan duration, it’s interest-free for 45 days. You can pay the rest amount with interest between 2 months to 6 months.

How to get PhonePe Personal Loan

A loan that is taken by the phonepe is like a personal loan. You can use this form phonepe wallet anywhere. Because PhonePe doesn’t ask any questions while paying money anywhere.

PhonePe Provide Business Loan?

Phonepe doesn’t provide any loan With the name of personal loan or business loan, the company only provides the Pay later option. You can use this money to anywhere according to your need.

Why PhonePe Loan?

There are so many organizations/Finacial institutions that provide the loan but here is why phonepe loan? Why should we take the PhonePe loan?

  1. PhonePe Instant Loan 100% online. No need to visit anywhere.
  2. PhonePe Instant Loan is available with minimum documentation.
  3. PhonePe Instant Loan interest-free Loan.
  4. PhonePe Instant Loan can be applied from anywhere.
  5. PhonePe Instant Loan duration is good as compared with others.
  6. PhonePe Loan will be available into account.

PhonePe Loan uses

You can use PhonePe loan for mobile recharge/ bill payment shopping as well as buying vehicles and anything’s where you can.

PhonePe Loan Eligibility

  1. You should be an Indian Citizen.
  2. Age should be in between 18+ to 69 Year.
  3. You must have some earning source.

PhonePe Loan Documents

Getting a phonepe loan is much easier than you think, the process is very simple and you need the following documents for a Phonepe loan:

  • To get phonePe Loan, You must have ID proof and address proof.
  • Under ID proof, You should have Aadhar Card, Pan Card, and Passport and
  • In Address Proof you should have a passport or any other government document

Bank Of Baroda Loan – Bank Of Baroda Personal Loan Apply Online

Phonepe loan Access process

  • Download Phonepe app from play store.
  • Register yourself with your mobile number.
  • Add your bank account with phonepe app
  • After this process, Download the Flipkart App.
  • CREATE profile with the same number you used in Phonepe app.
  • Go to profile option and Activate Pay later option.
  • Upload documents like adhar card, Pancard and other as per requirement.
  • After this stage, You will get a limit.
  • Open the Phonepe App, Go to my Money
  • Add the amount to phonepe and enjoy the money.

Now we believe that you have understood about How to Get Phonepe loan, How much amount you can get from phonepe and what will be of interest on phonepe app.

If you like this information, You can share this article with others.

Why phonepe provides small loan amount ?

As it is the easiest loan available, and it doesn’t need any income proof. That’s why they only provide a small amount of loan.

Is Flipkart Parent Company of Phonepe?


Who funded Phonepe?

Phonepe is funded by it’s parent company Flipkart & Wallmart.

Is it safe to take loan from phonepe?

Yes, Phonepe loan is totally safe and amongst the best options for small term loan.

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