PhonePe Loan Up to ₹5 Lakh in 72 Hours – No Bank Visit Required

Getting a personal loan usually means long queues at banks, endless paperwork, and stress over CIBIL scores. But now, things have changed. PhonePe, one of India’s most popular digital payment apps, is offering quick personal loans directly through the app, with money credited in as little as 72 hours.

This new feature is a big relief for people who need urgent funds without having to run from bank to bank.

PhonePe Personal Loan: Simple, Fast, and Fully Digital

When sudden expenses strike—medical emergencies, family needs, or business requirements—visiting banks can be frustrating. PhonePe solves this problem by offering instant digital loans in partnership with leading banks and NBFCs.

The entire process is online, transparent, and user-friendly, making it ideal for salaried professionals and small business owners.

How Much Loan Can You Get on PhonePe?

PhonePe personal loans are available based on your credit profile.

Minimum loan amount: ₹10,000

Maximum loan amount: ₹5,00,000

Loan type: Unsecured (no gold or property required)

These funds can be used for:

• Medical emergencies

• Small business expenses

• Education

• Household or personal needs

• Interest Rates and Repayment Tenure

• PhonePe clearly shows all charges before you apply, ensuring full transparency.

• Interest rates: Starting from around 11.30% per annum

• Repayment period: 12 months to 60 months

• Disbursal time: Within 72 hours of approval

• Processing fees: Displayed upfront

• You can choose an EMI plan that best suits your monthly budget.

Who Is Eligible for a PhonePe Loan?

To apply for a PhonePe personal loan, you must meet the following criteria:

• Age: 21 to 60 years

• Minimum monthly income: ₹15,000

• CIBIL score: 650 or above (higher score improves approval chances)

• Employment: Stable income source preferred

Documents Required for PhonePe Loan

The documentation process is minimal and completely digital:

• Aadhaar Card

• PAN Card

• Last 6 months bank statement

• Salary slips (for salaried individuals)

• No physical document submission or branch visit is required.

How to Apply for a Loan on PhonePe – Step-by-Step

• Open the PhonePe app

• Go to the Loans section

• Enter personal and income details

• Choose the loan amount and repayment tenure

• Upload required documents

• Submit the application

• Once approved, the loan amount is directly credited to your bank account.

FAQs – PhonePe Personal Loan

1. Is PhonePe loan safe and genuine?

Yes. PhonePe partners with RBI-approved banks and NBFCs, making it safe and reliable.

2. Can I get a loan without a high CIBIL score?

A CIBIL score above 650 improves approval chances, but final approval depends on the overall credit profile.

3. How long does PhonePe take to disburse the loan?

The loan amount is credited within 72 hours of approval.

4. Do I need to visit a bank branch?

No. The entire process is 100% digital.

5. Can self-employed users apply?

Yes, provided they meet income and eligibility requirements.

Conclusion

PhonePe personal loans are a fast, hassle-free solution for anyone needing urgent funds. With loan amounts up to ₹5 lakh, competitive interest rates, and no bank visits, this digital loan option is ideal for today’s fast-paced lifestyle.

If you already use PhonePe, checking your loan eligibility takes just a few minutes—and the money could be in your account within three days.