How To Get PhonePe Instant Loan

Flipkart is a parent organization of PhonePe, launched in 2015. Phonepe is a widespread and well-trusted mobile payment UPI-based app in India. The interface of the app is clean and convenient to use.

You can transfer amounts from one bank account to another without using BHIM UPI, Debit card, or Credit card. Software loan of PhonePe is easy to do financial transactions, and PhonePe mechanism is UPI-based, which eases to transfer money between accounts.

PhonePe was developed to boost the cashless economy of India, so people need not carry money 24×7, make payment through the PhonePe app within seconds hassle-free. It has 330 billion users in December 2021.

What is a PhonePe Loan?

  • There is an option on PhonePe that lets you pick out a personal loan for yourself. The loan amount is directly put into your account when you pick out a loan. It saves time and money.
  • To complete a loan application, you need a few documents which are accessible, even if the loan money is not significant.
  • First, you have to download the PhonePe app to be eligible for a PhonePe instant personal loan. Then you have to fill out specific standards before applying for a loan.

How To Get PhonePe Instant Loan 

Step 1 – Connect with Flipkart

PhonePe is not offering loans directly from the PhonePe app; it helps you take loans via Flipkart because Flipkart is the parent organization of PhonePe. You have to sign up for both apps to be eligible for a loan.

Step 2: Fulfil the eligibility criteria

You have to match some criteria for PhonePe instant loan that are below:

  • You must be 18 years old and also have a bank account.
  • Your mobile number should be registered with an Aadhaar card and bank account.
  • Your credit score should be above 700, which makes you eligible to take a loan; if it is below, there is a slight chance of getting a loan.

The papers required would be:

  • Aadhaar card
  • PAN Card

(PhonePe instant loan requires just essential documentation which hassle-free to approach problems )

Step 3 – The Process of Application

The application process for PhonePe instant personal loan is entirely online, and PhonePe is not using an offline way of operation. Applicants will get an easy method of loan to be approved with little documentation. Applicants have to install two apps that are Flipkart and PhonePe, with the same mobile number.

How To Apply for PhonePe Loan

How To Apply for PhonePe Loan

  1. The first step is to download the PhonePe app from Google Play Store or iOS Store.
  2. You have to register using a mobile number linked to your Aadhaar card and bank account.
  3. You should also install the Flipkart app
  4. Register on the Flipkart app using the same number used in the PhonePe app.
  5. Then enter your personal information in the Flipkart app and complete the Full KYC process.
  6. After completing KYC, there will be options to Pay Later Credit using PhonePe as fast as possible.

How To use PhonePe Instant Personal Loan

  1. You have to create a Flipkart account.
  2. After finishing account creation, you will see the options to pay later using Flipkart and select the drop-down menu to proceed.
  3. After Flipkart pays for later registration, you will be able to get payment. A loan is easy to get if your credit score is good.
  4. After all these formalities, you have to open PhonePe and select my money from the drop-down menu.
  5. Once you choose this option, your amount of UPI accounts and PhonePe wallet are shown to you. You can see the loan fund you get from using Flipkart pay later.
  6. You will get loan funds quickly to use to solve your problem.

Feature of PhonePe Loan Service

  • The procedure of taking a loan is easy with small documentation compared to other competitors.
  • If you take small loan funds, then there are no interest rates for 45 days.
  • To encourage customers, PhonePe offers zero-interest-rate on loans for 45 days.

Benefits of PhonePe Loan

  • Repayment of a loan of PhonePe instant loan procedure is longer than others.
  • PhonePe loan does not require in the way of paperwork.
  • PhonePe loan procedure is entirely online; you need not go physically somewhere.
  • PhonePe loans are accessed from any location.


1. Can I add multiple bank accounts on the PhonePe app?

Ans: Yes, go to the main menu and click to add a bank account.

2. How does PhonePe provide a loan?

Ans: PhonePe provides a loan through Flipkart, which is the parent organization of PhonePe.

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