Google Pay - Now Get a Digital Loan Instantly From Banks in India

Google has re-branded their UPI based payment application ‘Tez’ to ‘Google Pay’. The improved version of Google Pay application will host a new line of features such as pre-approved loans.

Google has teamed up with HDFC Bank, ICICI Bank %, Federal Bank and Kotak Mahindra Bank to provide pre-approved loans. Customer will have option from only these banks for any lending through Google Pay. There is no paper work process involved in lending.

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How To Get an Instant Loan through Google Pay ?

Download the Google Pay apps or update the existing ‘Tez’ app
Register on app through and linked your bank account of any bank
To get a loan from Google Pay, customers just need to accept the bank’s terms and the money will be deposited into their bank account.
EMI will also be automatically deducted through app itself.

Google plans to enable payments at retail locations like Big Bazaar and FBB by the end of the year.