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Gpay offering loans now.

I tried Paytm payments Bank but payment options were fairly limited. Deactivated after a few months. Has anyone tried this one? Is there even a point to such loans apart from emi/big purchases?

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tbk

Startup

9 months ago

This mentions powered by DMI finance, it is very very sketchy company they didn't close the loan account created by slice app even after told to deactivate the slice account, I emailed the slice support multiple times to coordinate with their nbfc to close the loan account but they repeatedly kept asking cibil reports and it took a total of almost 6 months for them to eventually close the loan account so that it doesn't reflect active in cibil report. I had opened slice account back in 2019, asked to close the account at time of RBI ppi credit ban.
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Kamlesh

Stealth

9 months ago

Yeah, I've never heard of it before
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TinyHumidity

Stealth

9 months ago

Saw a lot of people taking personal loans on such apps. What is the usecase people are taking such high interest loans ?
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Kamlesh

Stealth

9 months ago

I have the same question. Isn't a regular bank loan/credit card way cheaper?
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Brutallyhonest

Stealth

9 months ago

All UPI apps have to figure to make money. Can’t endlessly burn money on infra and software professionals
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Kamlesh

Stealth

9 months ago

Interest rate starting at 14% đź« 
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ElonMast

Amazon

9 months ago

You won’t believe but there’s a huge demand for such loans. If you are an SME with no paper history, this is the only option you have. NBFCs primarily deal with risky customers by keeping higher RoI to achieve portfolio level profitability.
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admiN

Stealth

9 months ago

I got my first loan on GPay but it was offered by my bank. I paid my loan EMIs directly to bank. Now they have many companies and banks offering loans.
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Based1776

Remote

9 months ago

I availed this loan offer last year. The interest rate was very high but otherwise I didn’t have any issue
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DesignTinker

Stealth

9 months ago

Never noticed this. But offering loans is one popular way to make money. Google pay team has also been hiring for some time (noticed a lot of LinkedIn openings).
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RectangleBro

Quizizz

9 months ago

14% interest is a lot
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