How to take loan from MobiKwik: MobiKwik is an online payment application, you can make many types of payments by adding money to MobiKwik wallet like bill payment, recharge, ticket booking, money transfer etc. Apart from all these services, you can also take loan from MobiKwik.
In today’s article, we will give you complete information about taking loan from MobiKwik and will also tell you what are the terms and conditions of taking loan from MobiKwik. So if you are also thinking of taking a loan from MobiKwik, then read this article till the end.
what is mobikwik app
MobiKwik is an E-Wallet and payment application in which you can add money from your debit card, credit card, net banking etc. and do mobile, DTH recharge, payment of various types of bills, money transfer etc.
Apart from this, you can also use MobiKwik for loans, mutual funds and investing in digital gold. MobiKwik is a Semi Closed Wallet registered with the Reserve Bank of India.
MobiKwik is a trusted and popular application for online payments, this app has a rating of 4.3 stars on Google Play Store and more than 5 crore people have downloaded MobiKwik.
MOBIKWIK ZIP LOAN ELIGIBILITY
To avail MobiKwik ZIP Loan the applicant is required to fulfill the following eligibility criteria –
- Citizenship of the applicant should be Indian.
- The applicant should be salaried or self-employed.
- The minimum age of the applicant should be 21 years.
- The applicant must have a definite source of monthly income.
- The credit score of the applicant should be good, generally the applicant with bad credit score is not able to get ZIP Loan.
- The applicant should not be a defaulter of any bank.
- The mobile number of the applicant should be linked to his Aadhar card.
- To apply for ZIP Loan, the applicant must have a smartphone and internet.
Documents required for MOBIKWIK ZIP LOAN
To take MobiKwik ZIP Loan, the applicant will need the following documents.
- PAN card
- Aadhar card
- address proof
- Income ratio
- bank account details
- selfie
Types of loans offered by MOBIKWIK
MobiKwik mainly provides two types of loans to its users, ZIP Pay Later and Personal Loan which is also called Shopping Loan. Further in this article, we have told you in detail about both the loan types offered by MobiKwik.
what is mobikwik zip pay letter
ZIP Pay Later is a special type of small loan provided by MobiKwik under which MobiKwik users can get instant credit up to Rs 60 thousand, and can repay it later.
You can use this credit to shop from more than 1 lakh brands, which include big brands like Swiggy, Zomato, Flipkart, Myntra, Pharmeasy. Apart from this, you can also use ZIP Pay Later for recharging, paying bills etc.
| Loan Name | ZIP Pay Later |
| loan amount | 60 thousand max |
| interest rate | 0% |
| period of time | 15 days |
How much is MobiKwik ZIP Loan available?
MobiKwik gives ZIP loan up to Rs 60 thousand to its users. ZIP Loan is a special type of Pay Later in which the amount of credit you get increases with your usage.
For example, suppose you first get a credit of Rs 10,000 from ZIP Pay Later, if you pay your bill on time using this credit, then the next time your credit limit increases. Similarly, this limit can be up to a maximum of Rs 60 thousand, which depends on the credit profile of the applicant.
MobiKwik ZIP Loan interest rates
The best feature of ZIP Pay Later loan is that you get the loan at 0 percent interest rates. You have to pay back the amount of credit you get from ZIP. If you want to take a loan without interest then MobiKwik ZIP Loan is a good option for you.
MobiKwik ZIP Loan Tenure
MobiKwik ZIP bill is generated twice a month i.e. after every 15 days ZIP bill will be generated. This means that you can get credit now and repay your credit after 15 days.
How to activate MobiKwik ZIP Pay Later
You can get ZIP Pay Later loan very easily through MobiKwik. Below we have told you step wise the process of applying for ZIP loan. You can easily take ZIP loan by following this process.
- First of all, download MobiKwik app from Google Play Store and install it on your device.
- Complete the registration process in MobiKwik using your mobile number.
- Whatever permission this app asks from you, allow it.
- Now you have to fill some of your personal details, like name, PAN card, date of birth.
- After this, complete eKYC on MobiKwik by uploading your necessary documents like Aadhar Card, PAN Card, Selfie.
- Now you will reach the page of ZIP Pay Later where you will be told about all its features, here you have to click on Claim Your Offer.
- Accept the Terms & Conditions of ZIP Pay Later by entering your email address and then click on Continue.
- An OTP will come on the mobile number linked to your Aadhar card, enter this OTP and get it verified.
- Now you will be offered credit limit based on your credit profile, you have to accept it and then within some time this credit will be added to your MobiKwik Wallet.
In this way you can get ZIP Pay Later loan from MobiKwik.
Features of MobiKwik ZIP Loan
- You can take loan without any guarantor and collateral.
- ZIP loan is available at 0 percent interest rate.
- The loan can be used to purchase from more than 1 lakh brands.
- Loan is available without any paperwork.
- If you are eligible for the loan, the loan is added to your MobiKwik Wallet within 5 minutes.
- If you pay your bills on time, your credit score also improves.
HOW TO APPLY FOR MOBIKWIK LOAN
To apply for a shopping loan from MobiKwik, follow the following process.
- First of all, download MobiKwik App from Google Play Store, and register in MobiKwik using your mobile number.
- Now MobiKwik will ask you to do KYC but you have to click on Skip KYC, because if you do KYC then Pay Later will be activated.
- Now you will reach the homepage of MobiKwik, here you will get the option of loan, click on it.
- After this, accept the Terms & Conditions of MobiKwik and click on Get Started. And then this app asks you for some permissions, allow it.
- Now you have to click on Proceed KYC, and complete KYC by uploading your Aadhar card, PAN card and selfie.
- After this you have to fill all the details of your profession, and then click on Submit.
- Wait for a while, MobiKwik fetches your documents and gives you a loan offer based on it. You accept the loan offer by clicking on I Accept.
- Now you have to fill the details of your bank account, and then click on Submit.
- Now you have to do Auto Setup. That means the loan EMI amount will be automatically deducted every month through your selected payment method.
- By doing just this, your loan will be approved, information about which is also given to you through message.
- You can withdraw the loan amount in your bank account within some time of the loan being approved.
In this way you can take a personal loan up to Rs 2 lakh on MobiKwik.
Leave a Reply