Google Pay launches convenient loan service for users

NEW DELHI: Google Pay (G Pay) has introduced a new loan program for consumers and merchants in India. This initiative is in collaboration with both banks and non-banking financial institutions. Through the Google Pay app, people can access loans ranging from Rs 10,000 to Rs 1 lakh under a program known as "Sache Loans." The repayment period can vary from 7 days to 12 months.

Small businesses can obtain loans of up to Rs 15,000 which can be paid back in equated monthly installments (EMIs) starting at Rs. GPay has partnered with DMI Finance for the "Sache Loan" program, while personal loans will be offered in conjunction with Axis Bank.