Bharat Pe App 2023 : How to get loan from Bharat pe app?
Bharat Pe App 2023: How to get a loan from Bharat pe? Bharat Pe is one of the most successful and famous services in India these days. You will find a Bharat Pe QR scanner in every shop and merchant. Bharat Pe was made to be used by the merchants. It is a single place where you can send money through various UPI payment apps. This has made the life of all the merchants very easy. This article will give you all the details related to the Bharat Pe app and its loan eligibility. Also check out MI credit and RapidPaisa Loan.
Bharat Pe
Bharat Pe has recently launched its unique and different loan feature only for merchants using its QR code scanner. You can only take a loan from Bharat Pe when you have received a certain amount of payments through the QR code or UPI. The more you will receive compensation in the Bharat Pe app QR scanner, the more you can borrow from it. The processing fee for a loan from the Bharat Pe app is 0 % which makes it very convenient. Also, the interest rate is meagre as well. You can repay the loan daily (EDIs).
| Features | Bharat Pe is one of the most used service in India these days. From the time UPIs are introduced in India, every other merchants are having a Bharat Pe QR code in there shops. You can easily scan and pay the amount to the merchant from any of the UPI apps. Recently Bharat Pe has also introduced its loan feature, which is only available to the merchants who are using the Bharat Pe QR code in there shops. The loan is without any processing fee and the interest is very low |
| Eligibility criteria | You need to be a citizen of India to take the loan from Bharat Pe You need to be a businessman or a businessperson using the Bharat Pe QR scanner |
| Application process (Online) | You can easily apply for a Bharat Pe loan if you are eligible for it. You just need to fill a simple application form and submit all the relevant documents. Once all the process is done, the loan amount will get directly transferred to your bank account |
| Documents Required | Identity proof like aadhaar card, Voter ID card, passport, etc., are required. Address proof like, aadhaar card, driving license, passport, etc., are required. You also need to have a pan card |
| Official Website | Click here |
| Official App | Click Here |
Eligibility criteria
Some eligibility criteria must be known to every individual who wants to take a loan from Bharat Pe App, as without being eligible for the loan, you can take it. The eligibility criteria for a loan from Bharat Pe is very different from any other. This is specially made for the merchants, and it is only accessible to them.
We have mentioned all the eligibility criteria below:
- You need to be a citizen of India and an active merchant. You need to have some kind of shop or business where you are using the Bharat Pe app QR scanner.
- You need to have a regular source of income from your business or shop
- The loan amount which will be approved to you will be determined by the number or payments coming into your Bharat Pe QR scanner. The more you will receive payment in your Bharat Pe QR scanner, the more amount you can borrow from it.
Application process (Online)
The application process to take a loan from Bharat Pe is very easy, and it can be quickly taken from anyone. You need to be eligible for the loan, and the later process is straightforward and convenient. You can apply for the loan directly from the Bharat Pe app or its official website.
The online process is mentioned below:
Step I – first of all, you need to be a merchant of India and be an active user of the Bharat Pe QR scanner. If you have enough payments in your Bharat Pe QR scanner, you can apply for the loan.
Step II – you need to download the Bharat Pe application or visit its official website.
Step III – now, you can quickly fill the application form with all the details about your business and other relevant things. You will be provided with your loan amount there, which will be approved according to the number of payments received in the Bharat Pe QR scanner.
Step IV – once the form is filled, you need to submit all the documents required.
Step V – after submitting the documents, the loan will be credited within a few days. It takes one or two days to process.
Documents required
- Identity proof – Aadhaar card, passport, voter ID card, etc.
- Address proof – Aadhaar card, driving license, passport, etc.
- Pan card for a successful KYC and some details about your business.
- You also need to upload your selfie for identification.
- You need to link your bank account with Bharat Pe and register for a NACH.
Frequently asked questions
What is the maximum loan amount which I can take from Bharat Pe?
Well, the maximum loan amount which one can take from Bharat Pe is 7,00,000.
How will my loan amount get repaid?
You don’t have to worry about repaying your loan amount. The amount will get deducted daily from your bank account. It will be done in small EDIs.
Does Bharat Pe only provide loans to merchants?
Yes, it would help if you were a merchant eligible for a loan from Bharat Pe.
What is the processing fee for a loan from Bharat Pe?
Well, interestingly, the processing fee is 0 %. You can avail of the loan without any processing fee or joining fee.