Sachet loans are small-sized personal loans and are usually offered with short repayment tenures.
Google Pay is offering sachet loans in partnership with Delhi-based NBFC (non-banking financial company) DMI Finance, starting at Rs 15000 with EMIs starting as low as Rs 111.
UPI in collaboration with its payment service providers (PSPs), HDFC and ICICI Bank, and has now expanded the portfolio of personal loans on Google Pay by partnering with Axis Bank.
₹167 lakh crore was processed through UPI in the last 12 months.
1.Download Google Pay 2.Set Up Your Account 3.Verify Your Identity
Remember, sachet loans start at Rs 15,000, making it ideal for various financial needs.
Ensure you understand the repayment tenure and interest rates associated with the loan.
If you agree with the terms and conditions, submit your loan application through the app. Your request will be processed swiftly.
After your loan application is approved, the funds will be disbursed directly into your bank account linked to Google Pay.