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Google Pay to bring Sachet Loans - Know more details

Digital payments platform Google Pay has added a new category to its services – Small and Sahaj Loans. This facility has been started with the aim of providing financial assistance to small traders, so that they can promote
their business.

Associate banks and financial institutions Google Pay has signed agreements with many major banks and financial institutions of India for this new initiative. Institutions like DMI Finance and ePaylater are involved, which will provide financial support through sachet loans and credit line facilities.

Google Pay also enabled a credit line for merchants in partnership with ePayLater helping solve the working capital requirements of merchants. Merchants can use it across all online and offline distributors to buy their stock and supplies.

What are sachet loans? 

Sachet loans are small and short term loans, usually given to meet immediate financial needs. These monthly installments are very low, and ensure that there is no additional burden on merchants.

Important Information 

Minimum loan amount: ₹15,000

Initial EMI: ₹111

Affiliates: DMI Finance, ePaylater, ICICI Bank, Axis Bank

Availability: Google Pay App


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