The ubiquity of UPI transactions in the contemporary era means almost everyone is familiar with Google Pay. Now, in a significant development, Google Pay users have the opportunity to opt for loans within the app. Private money lender DMI Finance, in collaboration with Google Pay, is enabling customers to avail loans of up to Rs.1 lakh. To access this lending option, users need to complete a straightforward verification process. Upon approval, the loan amount will be swiftly credited to the respective bank account linked with Google Pay. The repayment period spans across 36 months, allowing borrowers ample time for repayment.
It’s worth noting that not all users are eligible for these loans. Pre-qualified Google Pay users can easily initiate the loan application process through their mobile devices. Eligible customers stand a chance to secure loans up to a maximum amount of Rs. 1 lakh through this innovative initiative.