Google Pay Loan _ Google Pay Se Loan Kaise Le Sakte Hain

Friends, in this video, we will discuss about Google Pay Personal Loan. In this video, I will tell you the whole live process, step by step, how you can apply for a personal loan from Google Pay in 5 minutes while sitting at home. In today's date, Google Pay gives a range of Personal Loan from Rs. 10,000 to Rs. 8,00,000. The rest depends on your eligibility. If your civil score is very good and you have a good salary, then they give a maximum loan of Rs. 8,00,000. And if the civil score is good, then the personal loan starts from Rs. 10,000. I will tell you the whole live process at the end of the video. I will tell you step by step. Before that, the most important thing is that the place from where we want to take a personal loan, we should know about it first. It's not like a customer comes to Google Pay. The customer comes to Google Pay and there is a loan section. I have put a screenshot here. This is the Google Pay interface. Here is the loan section. So, if he is applying for a loan from here, it's not like Google Pay is giving him money from its pocket. Look, the customer comes to Google Pay. The tie-up of Google Pay is with DMI Finance. DMI Finance is an NBFC company. Like Bajaj Finsev, DMI Finance, Hero, Aditya. So, these NBFC companies are very different. In the same way, DMI Finance is also a company. What is the benefit of Google Pay? A customer is coming to Google Pay. What does Google Pay have? Google Pay has crores of customers. Crores of customers. In a way, everyone is using Google Pay. What is Google Pay doing? It has put a loan section on its app. Who is paying the loan? DMI Finance. So, in a way, what is Google Pay doing? It's just doing its job. Now, the question is, ultimately, we are getting the loan from DMI Finance. So, the question is, is it okay to take a loan from here or not? So, if I tell you about that. Look, if someone wants a personal loan today, where will he get the cheapest loan? He will get it from the banks. From 12% to maximum 20%, you will get a personal loan. If you want a little more expensive than this, then you can go to any NBFC. Okay, NBFC company. You can go to any company. You can go to Bajaj. You can go to anyone. Here, you will get the rate of interest from 20% to 40%. And if you go ahead, the apps that are taking advantage of the compulsion are the Instant Loan Apps. Here, the rate of interest, if I say, is not a big deal. It goes up to 60-70%. I mean, they start from 20%, but no one gets it at 20%. So, it goes up to 60-70%. Okay. Now, a question arises. Why are loans cheap in banks? Look, let's say, whenever a bank gives a loan to a customer, they give a loan by checking it. It's not like someone's civil score is bad, someone is not paying the ITR, someone's salary is not coming, so, they give him a loan. The bank will check his salary, whether he has money or not. If he is doing business, then he will check his ITR. That's why he will give a loan. He doesn't give a loan by closing his eyes. So, the bank thinks that if I am giving a loan to 100 people, then 80 out of 100 people will give me money. The 20 people who won't give money, let's say, the bank is giving a home loan, then the home loan is not defaulted. Because if the home loan is defaulted, then the house is mortgaged. In the case of personal loan, let's assume that 20 out of 100 people default in banks. So, the 20 people who default, their burden falls on 80 people. That's why home loan, car loan, personal loans are more expensive than these, even in banks. Do you understand? But if I talk about the NBFC company, then what does it do? The bank gives a loan, but it gives a little less loan. If someone's Sibyl score is 19-21, then it also gives a loan. That's why their rate of interest is more expensive. Why? Because if you assume that the bank is giving a loan to 100 people, then only 60 out of 100 people will return it. 40 people default. So, the burden of 40 people falls on these 60 people. That's why their rate of interest is a little more expensive than banks. If you take the Instant Loan app, if someone doesn't even have money in his account, then he will also put that I get a salary in cash. No proof is required. Nothing is required. I mean, if you close your eyes and take a look, out of 100 people, 25-30 people will be the ones who give money. The rest are all defaulters. So, in this way, even if 70 people default, the burden of these 70 people will fall on whom? On these 25-30 people. That's why their rate of interest becomes very expensive. Now, where are we taking a loan from? We are taking a loan from the NBFC company. Who are we taking a loan from? We are taking a loan from DMI Finance. Now, let me tell you that the NBFC company is a little weaker than banks, but it is better than the Instant Loan app. I mean, it is better than the Instant Loan app, but it is worse than banks. For whom is it good? From DMI Finance or I mean, you will have to use the interface of Google Pay. So, it is good for those people. For example, let's say someone's salary is coming properly. He also pays ITR, salary is also coming, everything is fine. So, why should we take a loan from here from DMI Finance? If he has a good rate of interest, then we will give it to the bank. But for some people, let's say there is a small default, but the salary always comes in the account, it is working properly. But in the past, there was a small default or for some reason, it got due. The civil score is 19-21, but now everything is coming perfect. So, for those people, DMI Finance is fine. But if someone's civil score is absolutely perfect, then why will he take a loan from DMI Finance? I mean, do you understand? Now, I will tell you a little further according to the calculation. I will tell you the calculation of banks and I will tell you the exact calculation of DMI Finance. We applied for two people from DMI Finance. The first one for whom we applied, we used him only for calculation. We did not apply fully from there. So, when we applied for him, his eligibility came for a loan of 2 lakhs. His salary was around 55,000-60,000. So, he gets a loan of a maximum of 8 lakhs, but he was still eligible for a loan of 2 lakhs. Rest, I will show you his calculation. So, we calculated the loans here. For example, let's say, he got a loan of 2 lakhs. So, on this, how much fees did he apply? 7080. So, how much processing fees did he apply? 7080. Now, you calculate the processing fees for this. Divided by, here, 1, 2, 3, 4, 5, multiplied by 100. So, this comes out to be 3.54%. So, 3.54% processing fees were applied. So, if you calculate, 7,000 rupees were deducted. I mean, it is a loan of 2 lakhs. So, 7,000 rupees processing fees were deducted from this. How much money will he get in the account? 193,000 rupees. So, let's say, if I apply for this, DMI Finance Loan, then a loan of 2 lakhs, would have come on my head. The one for whom I apply, a loan of 2 lakhs would have come on his head. How much processing fees would have been deducted? 7080. So, how much would he get in the account? Let's say, he takes money in his savings account. So, a loan of 2 lakhs would have come on his head, but how much would he get in the account? 193,000 rupees. And what would be the rate of interest? 24.99. That is, 25% rate of interest. See, the calculation is done here. See here. Where did it go? Here it is. Monthly EMI, 19,008. 19,009 rupees, right? See here, it is coming for 12 months. 19,008. Here, 19,009 is added. It is the same thing. 19,008. Okay, for 12 months. Here, see, tenure is given for 1 year in the calculator. So, what is the rate of interest? 25%. Okay? So, it is the same thing. If I say the rate of interest, according to the NBFC company, then it is not useless. See, the bank will give it at 12%, at 15%, at 16%. Okay? They would have given it to him. They would have definitely given it to him. Because his civil score is absolutely fine. There was no default. But how much did they give him? At 25%, DMI Finance gave it to him. But the processing fees are very high. 3.54% There is a lot of processing fees. You will understand that behind a loan of 2 lakhs, in the account, only 1,93,000 rupees are coming. So, 3.54% processing fees are very high. How much does it stay in the banks? Only 1 or 2% processing fees are there. Okay? So, this thing I felt a little, okay? Because his civil score is perfect. If his salary was 10,000 or 12,000, then according to me, he would have imposed the rate of interest of 2% per month. So, it is the same thing. Think about it. In today's date, even if someone takes a loan from the market, even if he takes money from a loan shark, then also, 2% interest is there per month. If you multiply it by 12, then also, 24% interest is there per year. So, even if someone takes a loan from the market, then also, 24% interest is there per year. So, why do we give a very high rate of interest here? Okay, many people say that no one gives money to us in the market. So, I agree that no one gives. But still, I believe that if you are coming to an NBFC company, then still, more than 25% rate of interest. If a NBFC company says that they will charge a rate of interest of 30-35%, then according to me, you should refuse. You should not give more than 25%. Rest, I will show you of some instant loan apps. For example, Navi is there. Navi is doing well these days. Navi gives loans with a little bit of cheating. So, you should take it as NBFC only. You should consider it as NBFC only. Some loan apps, like TrueBalance, they give loans to everyone when you walk or when you walk. But its rate of interest starts at 28.8%, there is no end to it. Whether it is at 60% or 65%, there is no end to it. I made a video on a branch app I applied for it when it was of 64%. The rate of interest of 64% is not a joke. If a person takes a loan of 1 lakh, he will have to pay 1,64,000 next year. If that person does not even have 1 lakh rupees, That's why he is taking a loan from you. If he had 100,000 rupees, then next year you will have to pay him 164,000 rupees. So the obvious thing is that you will get stuck in the trap. 64% rate of interest is not a joke. Someone's back bone should break. Is it so much to say that 64% is getting money once? No, it's a trap, a complete trap. And do you know what is the worst thing about all the instant loan apps? Whenever you apply for a loan from them, first of all, they will ask you to give them the gallery access, give them the contact information. Now you will take a loan of 100,000 rupees. Will you default it? He has all your contact numbers. He has all the photos in the gallery. Tomorrow you will default the method of recovery. Do you know what they have? They will start calling your contacts. Uncle, aunt, they will say that we will recover from you. All the relatives will call you. I am getting a call, he is threatening me. You will come under so much pressure that every relative is calling you and saying, brother, pay the money, don't take it. They defame you so much, these instant loan apps. I tell them in every video that the more you stay away, the more. A lot of people see like this. Once I show you the processing fees too. See how much they take, instant loan app. See the true balance. They take processing fees up to 15-15%. So it's not a joke that someone takes a loan of 100,000. If you deduct 15% processing fees, then 15,000 will be deducted anyway. You get 85,000 in the account. And let's assume that you give the rate of interest ahead of 50%. So it's not a joke that a loan of 100,000 is on your head. You get 85,000 in the account. And you have to pay 100,000 or 50% rate of interest. Accordingly, you have to pay 150,000. So it's not a joke. It's a job that you have to do. I have seen a lot of people who are college students or let's assume that they have not reached maturity yet. You have to buy an iPhone. iPhone 16 has come. You get a loan for it. They are college students. It doesn't matter what rate of interest you are getting. Okay, if it is default, then it is. Attitude is also at a different level. I know a lot of people who are taking loans from Instant Loan App to fulfill their hobbies. If someone has a medical condition, emergency, or a very urgent problem, then we can say that you don't get money from anywhere, so take it out of helplessness. But it doesn't make any sense to take it to fulfill your hobbies. If you are getting a loan from the bank, then take it. Don't take it from NBFC or Instant Loan App. This is a complete trap. First, look at your need. Let me show you one thing. There is a screenshot of ICICI bank. They give a personal loan from 10.5% to 16%. Similarly, SBI's personal loans start from 11%. HDFC's personal loans start from 10.5%. XS's personal loans also start from 10.5%. I have my own personal loan in ICICI bank for 3,17,000. I put it in the calculator. I took it for 12 months and its EMI is 28,360. When I put it in the calculator, it will be 28,360 for a year. So, the rate of interest is 13.4%. So, my personal loan is running at 13.4%. Why do you have to go to Instant Loan Apps? Banks are the best. Either they will reject the file. If they will give, then they will give. Otherwise, they will reject it. ICICI bank won't say that I will give you at 30%. If you want to take it, then take it. It won't give. It will deny that you are not eligible and you won't get it. But it won't give at 30%. So, these are the things. I am telling you the whole process. I hope that you should know this difference. Banks, then NBFC companies, and then Instant Loan. Banks are the best. Then NBFC is the best. If someone is helpless in the end, then you can go to Instant Loan Apps. So, if you want to take a loan from NBFC or Google Pay, I will tell you the process. And one more thing. Recently, we have launched a course. It is a complete course on Banking and Finance. If anyone is interested in Banking and Finance, means all the work done inside the bank, your loan, insurance, health insurance, term plan, vehicle insurance, and if someone defaults the loan, then what happens with that? Someone defaults the home loan, car loan. So, all the work done inside the bank, if you want the knowledge of everything, all the products of the bank, I have launched a proper course on it. I have been working in the bank for 7 years. So, I have put all my experience in it. And I have launched a complete course on YouTube. How does someone want to grow on YouTube? What things does he need? Which equipment? How do videos run? How do shorts videos run? So, I have launched two courses on it. I will give the link of these two courses in the description box. I assure you that I have put all my life in both the courses. So, I will give the link of both the courses in the description box. And let's start the process of Google Pay. How can we apply for it? To take a personal loan from Google Pay, first of all, you have to install the Google Pay application. First of all, you will get the option of Get a Loan on the main page. Sometimes, it shows the option of loan. Sometimes, it shows Get a Loan. So, the interface keeps changing. Sometimes, it shows Get a Loan. So, you have to click on the option of Get a Loan. Then, on the next page, it shows that we are eligible for loans from Rs. 10,000 to Rs. 8,00,000. So, you have to click on the option of Apply Now. Then, on the next page, it shows that you have to enter your email id. Enter the mobile number. Select the checkbox below. Then, click on the option of Continue. Then, on the next page, it shows that you have to enter the pin code of the place where you live. Okay, you have entered the pin code. Then, you have to click on the option of Next. Then, on the next page, it shows that you have to enter the name of the PAN card as it is. Then, you have to enter the PAN card number below. A number will be written below the PAN card. So, you have to enter the PAN number. Then, you have to click on the option of Next. Then, on the next page, it shows that you have to select your employment type. If it is Salaried, then it is Salaried. If it is Self-Employed, then it is Self-Employed. Okay, after selecting this, on the next page, it shows that the person for whom I am applying is Salaried. So, I have selected Salaried. On the next page, it shows their monthly income. So, generally, it is seen that you have to enter at least Rs. 20,000. Because if you enter Rs. 10,000 or Rs. 12,000, then this loan will be rejected. If you have a low income, then you have to enter Rs. 20,000 or Rs. 25,000. So, here I enter Rs. 20,000. After that, it shows that you have to select your gender, male or female. After that, it shows that you have to enter the date of birth. Then, on the next page, it shows that you have to enter your home address. Now, whatever is your exact address, you have to enter that address. Below, it shows that you have to choose the residence type. So, I have selected Owned here. Then, it shows how long you have been living in this house. So, let's say you have been living here for 5 years. So, you have to enter 5 years and 0 months. So, you have to enter how many years and how many months you have been living here. Then, it shows Enter Employment Detail. Now, let's say the company for which we are applying is Salaried. Let's say they are working in my company. So, I will enter the name of the company here. XY Access Education. Below, I will enter the total work experience. 2 years, 3 years. Below, it shows that you have to select your work address. So, you have to click on Choose Address. The location will open. So, you have to select your company's address from this location. After that, on the next page, you have to enter the details of your company's entire address. From here, you have to enter your entire work address. After that, you have to click on Next from the bottom. So, it will pick up your company's address. Then, on the next page, it shows how much loan you want to take. So, I have taken this meter all the way to the right. I want to take a loan of 8 lakhs. It is not necessary that you will get 8 lakhs. For once, we show our need that we will take a loan of maximum 8 lakhs. Now, it is a different thing to give loan of 50,000, 1 lakh or 5 lakhs. But, we select 8 lakhs here. After that, we have to click on the Next option from the bottom. After clicking on the Next option, on the next page, it says to accept the terms and conditions. So, select all the checkboxes here. After that, you have to click on Continue from the bottom. Then, it will take a little loading time here. You have to stay on this page. You don't have to exit this page. After taking the loading time, it shows the eligibility that you are eligible for a loan of 1,25,000. So, you are eligible for a loan of maximum 1,25,000. And, it is giving a loan tenure of maximum 1.5 years. So, it is giving a loan tenure of 18 months. And, it has made an EMI of 8095. If I take it in the calculator, it is 8095. And, here the processing, the loan amount is 1,25,000. Okay, it is 1,25,000. So, the rate of interest is 19.99%. That is, the rate of interest of 20% is coming out. So, this loan is getting 20%. Again, it is the same thing for which we are applying. Their civil score is also perfect. Their credit cards are also running, 3-4. So, it is a perfect civil score. If they would have taken a loan from the bank, then they would have easily got 12-13%. But, it is the same thing. I have told you that NBFC companies are a little more expensive than banks. And, it is more expensive than NBFC companies. And, it is a very bad thing. It is an instant loan. Okay, it is okay. Rest is helplessness. If someone is not getting it from the bank, then they can see from here. Okay. After that, on the next page, it is showing the processing fees. It has deducted the processing fees. Rs. 4,425. So, let's put this also in the calculator. Rs. 4,425 divided by 1,25,000. So, this comes out to be 3.54%. So, it is deducting the processing fees of 3.54%. Okay. The rate of interest we are getting is 20%. How much was there in the banks? The processing fees of 1% was deducted. The rate of interest is 12-13%. Okay. After that, if all this is fine, then you have to click on the confirm option below. After that, it is saying that your application has been approved. On the next page, it is saying that you have to take a selfie. So, you have to click on the take a selfie option below. So, your selfie will be taken from here. So, one second. Okay. So, your photo will be taken from here in a way. After capturing the photo, it is saying on the next page that you have to enter the number of your Aadhaar card. You have to enter the capture below. After that, you have to click on the next option below. Then on the next page, it is saying that you have to mandate your E in which bank account you want the loan amount of Google Pay to be transferred. Okay. So, you don't have to do anything. Here it is saying that you have to enter the name of the bank below. For example, if someone wants to take it from ICICI bank, then you have to select ICICI bank account type savings or current. Then you have to enter the account number. Similarly, you have to enter the IFSC code. And you have to enter the name of the account holder. After entering all these details, your auto debit feature will be activated. And the loan will go in the bank account in which you have entered the details. And the interest will also be deducted from that account. Okay. After that, it will take some loading time on the next page. And finally, within 1-2 hours, your loan amount will be transferred to your bank account. Because it takes 1-2 hours at the moment. Sometimes, it takes more than 6-7 hours. After that, you can go to the loan section and see how much interest is pending in your Google Pay. How much you have paid. You can easily check all the loan statements there. So, this was a simple one. Okay. Still, I will say the same thing that loan is a trap. If it is taken from banks, then it is a good thing. If it is taken for good work, if it is taken for something for which the value has to increase, for which you have to purchase a property, you have taken a loan for that. So, it is not a problem. It is a very good thing. Because the property is also appreciating. Along with that, you are also paying the interest. So, you are doing a very good job. But if the same loan is taken to buy a car, which is a depreciating asset. You are understanding the point. You are fulfilling your interest for no reason. If you need a car for business, your business increases because of that. So, a car is also a good thing. But if you are fulfilling your interest to show the society that you are buying a car or you are buying good phones to show the society, then it is a useless thing. For those things, you should not buy a loan. So, friends, if you found this video informative, then please like this video, subscribe to the channel and write any positive comment below. If you found 1% enhancement in your knowledge, then please write a positive comment. This is the best video on Google Pay loan app or anything. This gives us a lot of motivation. So, for now, this is the end of the video. Thanks for listening and thank you all.