📱 How to Apply for ₹5 Lakh PhonePe Loan Online in 2025 – Full Guide
In 2025, PhonePe users can now get a personal loan of up to ₹5 lakh instantly from their mobile phones. With just PAN, Aadhaar, and a bank account, you can check your eligibility and get money directly in your account — often within 2 hours!
Here is the complete step-by-step guide to apply.
✅ Eligibility for PhonePe Loan
- PAN card
- Aadhaar card (linked with mobile)
- Bank account
- Good credit score (preferably above 500)
- PhonePe app (updated version)
🔁 Step-by-Step Loan Application Process
1️⃣ Install and Open PhonePe App
- Open Google Play Store
- Search and install PhonePe
- Update the app if prompted
2️⃣ Go to the Loan Section
- Open PhonePe and go to the “Loan” option
- You’ll see options for:
- Personal Loan
- Mutual Fund Loan
- Gold Loan
- Bike/Car Loan
- Home Loan
- Property Loan
3️⃣ Check Credit Score
- Click “Check Credit Score”
- Enter your PAN card number
- If your score is above 500, you’ll unlock Personal Loan offers
📊 Example: A credit score of 778 qualifies for up to ₹5 lakh.
4️⃣ Choose Personal Loan Amount
- Click “Get Money Instantly”
- Choose the loan amount (e.g., ₹1 lakh)
- Choose duration (12–60 months)
- EMI examples:
- ₹1 lakh for 12 months → ₹9264 EMI/month
- ₹5 lakh for 60 months → ₹11,885 EMI/month
5️⃣ Fill Basic Details
- PAN number
- Date of Birth
- Gender
- Employment type (Salaried/Self-Employed)
- Monthly income
- Marital status
6️⃣ Complete KYC via DigiLocker
- Take a selfie (clear face, no glasses/cap)
- Enter Aadhaar number
- Get OTP on Aadhaar-linked mobile
- Approve via DigiLocker
- Aadhaar verified instantly
7️⃣ Setup Auto-Debit (EMI)
- Choose method:
- Net Banking
- ATM Debit Card
- Enter:
- Bank Name
- Account Number
- IFSC Code
- Set up auto-debit for EMI payments
8️⃣ Sign Agreement & Disbursement
- Review the loan agreement
- Click “Sign Agreement”
- Loan is disbursed within 24 hours
- In most cases, within 2 hours
🏦 Example: ₹8,737 was disbursed to HDFC Bank within 2 hours.
💼 Loan Terms Snapshot
| Loan Amount | Up to ₹5,00,000 |
| Tenure | 12 to 60 months |
| Interest Rate | Starting from 1.67% |
| Processing Time | Within 2–24 hours |
| KYC Process | Aadhaar via DigiLocker |
| EMI Setup | Auto-Debit (NetBanking/ATM) |
📌 Final Tips
- Keep Aadhaar and PAN ready
- Make sure Aadhaar is linked to your mobile
- Ensure good lighting while taking selfie for KYC
- Always pay EMIs on time to maintain credit score
PhonePe now offers a hassle-free digital loan experience, ideal for students, salaried employees, self-employed individuals, or emergency needs.
Have questions? Drop them in the comments below.
📲 Download PhonePe and try the loan feature today!
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