Introduction:
Nowadays, who does not want to take a loan because in our present system, a lot of work has been done through income, due to which if people want to do something new from their side, for which they go anywhere to take a loan, then they are not able to get the loan. . And for that one has to run around a lot and provide a lot of documents only then a loan is passed but it is not easy for everyone.
Groww App overview: So today we will talk about an application from where you can easily take a loan without any income or document proof, just like you take it from a bank or any agent. Loan facility is also available from here and that too within a few minutes the loan money is sent to your bank account.
Benefits Of Taking A Loan Through Groww App: On taking a loan from Groww App, you do not have to provide any kind of income proof nor do you have to provide any document. Apart from this, you get the loan amount in your bank account within a few minutes. And to take this loan, you do not need to go anywhere outside, you will be able to take it from your mobile itself.
Groww App Registration Process:
The first process is that you have to come to the Play Store of your mobile and search Groww App, after that you have to install it and register and open your demat account here so that you can avail the facility of your investment on the Indian Stock Market or else all You can use this application for various types of loan facilities and payments.
To create an account through this application, you will have to keep some of your documents with you such as your Aadhar card or PAN card and your mobile number and bank account number which has to be provided at your place and you will have to write your name and address correctly. So that the verification process can be done properly.
After that, when the turn comes for document verification, you will have to give the scanned copy of the PAN card and will also have to give bank account details so that you can avail all the payment facilities from here and along with this, you will also have to show your face through video call for identity verification. This will be done so that it can be proved that you are the same person with the documents you have given. And finally your registration process will be completed.
Eligibility Criteria For Taking Loan Through Groww App:
Inside this application, it will be checked whether you are eligible to take a loan or to create an account here or not, like your age should first be 18 years, only then you can create an account here and take a loan.
Apart from this, your bank account records will be seen and your credit score should be good so that if you have taken a loan somewhere before or have used a credit card, then according to whether you have paid the money on time or not, only then the loan will be available to you. Must be passed otherwise it will not be available.
Along with this, it will also be seen where you work and later on whether you will be able to pay this page properly or not. Yes, but here you will not have to give any document for your income, but it will definitely be verified later. This can be done no matter where you work if there is any kind of problem.
Step By Step Guide Of Loan Section:
After opening the application, you will find the loan area on the bottom right side, if you go inside then the amount of loan you can get as per the transactions and history of your account will be shown here.
You can continue by typing the amount of loan you want, then some installment plans will be shown here like 12 months, 36 months or 60 months EMI plan, whichever you like, you can select it and continue and you will be able to receive your loan.
Loan Apply Process In Groww App:
To take a loan with the help of Groww App, first you have to write how much money you want to take as loan, then continue and you will get the list of EMI plans.
If we look at the example, if we apply for a loan of Rs 50000 then here we get three options like for 3 months we will have to pay Rs 17707 every month or if we take it for 8 months then we will have to pay Rs 6830 or Then if we take it for 12 months, we will have to pay Rs 4657 every month for installment.
Along with this, if we know a little more details, then the amount of installment here is Rs 17707, for which we will have to pay annual interest rate of 13.75%, out of which total interest will be Rs 1293 and whose processing fee will be Rs 1765 along with GST.
Also Read : Easiest Way to Get Approved for a Car Loan
If we talk about the date of this loan, then we assume that if we take the loan on 27th of 2024, then its first installment will be deducted on 5th July 2024 and the last installment will be deducted on 5th September 2024 which is for 3 months.
After this, click on the auto pay option of the select bank and select your bank account. And you have to select through which medium you want to pay your installments like through debit card or through internet banking, after selecting which you have to continue and login so that the installments can be paid every month without any interruption. .
After that, an OTP will be sent to the mobile number linked to your bank account, after entering which you continue, the loan amount will be credited to your account within a few minutes.
Frequently Asked Questions (FAQs)
What are the interest rate?
Ans : It is depend on which EMI plan you are choice to complete the loan.
Can I prepay my loan?
Ans : Yes you can prepare your loan without any extra charge.
What happened if I miss a payment?
Ans : Then EMI installment failure interest rate are include as per the loan rules and guidelines.
Conclusion:
With the help of this article, today we learned how through Groww App, you can take a loan in very simple and easy steps in just a few minutes through your mobile phone sitting at home and you can also avail all its installment plans and other charges. About the entire process from the beginning to loan processing and getting the account in the bank.