LazyPay Personal Loan

Please Note: LazyPay is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.

LazyPay is a subsidiary of PayU and is offering personal loans. It is an app based service provider and is helping hundreds in meeting their personal loan requirements. It could be a medical emergency, renovation of home or family holiday plan or a long- due vacation.  Starting from Rs. 10,000, the personal loan amount of LazyPay gets disbursed to your account instantly and can be repaid within the tenure varying from 3 to 24 months.

Interest rates of LazyPay Personal Loan

LazyPay disburses personal loan at interest rates ranging from 18% to 28% that are influenced by the factors like your credit score, income, age, employer, etc.

Features/Benefits of LazyPay Personal Loan

Basic internet knowledge is more than enough to leverage the App based personal loan service provider.  Here are the benefits of LazyPay Personal Loan:

• Easy to avail from the comfort of your home.
• Swift loan disbursal.
• Know your loan eligibility within a fraction of a second.
• Best personal loan interest rates.
• Choice of loan amount ranging from  Rs. 10,000 to Rs. 1 lakh.
• Transparent application loan process.
• Minimal paperwork.
• Affordable EMIs.
• Feasible and hassle-free repayment process.
• Select your own personal loan tenure to meet your requirements – 3 months to 24 months.
• The credit limit can be increased for professionals with a monthly salary of more than Rs. 30,000.

Eligibility of LazyPay Personal Loan

In accordance with the stipulated guidelines of the government establishments, LazyPay has rolled out the eligibility criteria. A personal loan seeker is advised to measure his/ her eligibility on the basis of these guidelines. The salient feature of the eligibility criteria comprises:

• An Applicant must be of a minimum age of 18 years.
• He should be an Indian citizen.
• His KYC process should be completed.
• He should either be a salaried individual or a self- employed professional.
• His minimum monthly income should be Rs. 30,000.
• If he is a salaried individual, he must be with the current employer for the last six months or more.

Documentation Required to Avail LazyPay Personal Loan

A set of documents have been necessitated as per the guidelines of the establishments to borrow the LazyPay personal loan. These include:

• Filled in online personal loan application form.
• Copy in support of ID proof document – Passport/ Voter ID/ Driving License/ PAN Card/ Aadhar Card.
• Copy in support of address proof document – Passport/ Voter ID/ Driving License/ PAN Card/ Aadhar Card.
• PAN card document copy issued by the government of India.
• Income proof – last three months’ salary slip issued by the current company.
• Bank statement for the last six months.
• IT returns, income proof for the self-employed employee.

Additional Charges of LazyPay Personal Loan

The App based financial service provider has in place a transparent business structure for all its customers.

Customer Care/Support of LazyPay Personal Loan

You can visit the official website of LazyPay and can seek customer help by the following ways:

• Go to ‘need help’ button on the top and click it. A new window will open up with various options. Select a suitable option to solve your query.
• You can submit the query form.

Frequently Asked Questions (FAQs)

Is it safe to use the App based platform for securing the loan?

Ans: Yes, as the data and information shared on the app remain safe due to the modern technology.

What’s KYC? Too much focus is being given to this term in the banking and finance sector?

Ans: KYC stands for Know Your Customer. Under the process, through certain documents, including PAC Card, Passport and Voter Card, institutions verify the identity of the loan seeker. The objective is to put an embargo on the abuse of services.

Couple of months back, I joined a company. This is my first job. Can I raise application for the personal loan?

Ans: Yes, you can raise a loan application. Just complete the online application process. Shortly, you will be informed about the eligibility.

Is it possible to calculate the EMI online through the LazyPay App?

Ans: Yes, you can calculate the EMI online or through the app.