Groww Personal Loan 2026: Eligibility, Interest Rates, and Instant Approval Process
Groww App is a financial platform that provides its users with more well-known financial services, including mutual funds, stock market or personal loans, SIPs, NFOs, and FNOs, as well as instant personal loan offers.
Welcome to this blog; I will explain the step-by-step process to easily fulfil your loan requirements and transfer your personal or instant loan to your account as soon as possible.
The Groww app is another growing financial platform where millions of users are connected for daily investments or facilities like mutual funds and SIPs, or instant loans.
Groww App How does it work?
- The Groww app is a versatile platform that caters to various financial needs, including personal and instant loans. It also offers a wide range of schemes, from SIPs and mutual funds to trading and investment plans. Getting a personal loan through the Groww app is quick and easy.
- First, after installing the application and creating an account with personal details, the user needs to complete the KYC documents to proceed with the loan application form.
- Once you submit your loan application form, you will need to select your tenure and loan amount. Thereafter, the rapid loan approval process of the Groww app will begin, and you can expect the loan amount to be disbursed to your account without any delay.
Groww App Details:
| Feature | Details & Specifications |
| Loan Type | Unsecured Personal Loan (collateral not required) |
| Loan Amount | From ₹50,000 up to ₹12.5 Lakh (As per eligibility), |
| Interest Rate | 11% to 48% per annum (As per your credit score) |
| Loan Tenure | Flexible repayment from 3 to 60 months |
| Processing Fee | Typically 2% + GST |
| Documents Needed | PAN Card, Aadhaar Card, and Active Bank Account Details |
| Approval Time | Instant (after KYC completion) |
| Lending Partners | IDFC First Bank, Groww CreditServ, Fibe, and others |
PhonePe Personal Loan 2026: Eligibility, Application Process, and Instant Approval
How do I calculate a 12-month loan EMI?
You can calculate the amount and tenure of your loan in the format below, for example:
- Duration: 12 months
- Interest Rate: 15% p.a.
- Processing fee: ₹1000 (including 2% GST).
- Total Interest: ₹ 4156
- EMI: 4513
- APR – 18.89%
- Amount Disbursed – ₹49000
- Total Repayment – 54156
How to Apply for a Groww App Personal Loan?
To take a loan from the Groww Loan App, you have to follow the steps given below, which are as follows:
Step 1. Download and Install – For this, first of all, install the Groww app from the App Store or Google Play on your device.
Step 2. Now Create an Account – To create an account, open the app and click on the sign-up option. Then, verify your account using your phone number and email. If you have already created an account, click on the direct login option.
Step 3. KYC Verification – In this step, you will need to submit the required documents for KYC verification, such as a PAN card, Aadhaar card, or bank account details. To complete the KYC document verification, you must undergo video KYC, for which you will receive a link; during this process, you need to provide your registered mobile number or email address, and you must also have your Aadhaar card or PAN card ready to show during the video verification.
Step 4. Loan Selection Process – After the loan selection KYC, you will click on the loan option given at the bottom right or select the personal loan so that you can get clarity on what type of loan you want to take
Step 5. Check Your Loan Eligibility: As per your loan selection, you may need to upload some documents, such as payslips or monthly income proof, employment status, and some other details that are required.
Step 6. Select the Loan Amount and Tenure—Now you can choose the loan amount from 3 to 36 months as per your eligibility.
Step 7. Review & Submit –
- After checking your application, you should review your uploaded documents before submitting the form.
- Examples of required documents include identity proof, a PAN or Aadhaar card, and income proof such as a payslip or bank statement.
- Before submitting the form, ensure that all the documents are legible and all the details provided are correct.
Step 7. Loan Sanction & Disbursement:
After you submit your form, the Grove app will review your application, process the payment, and notify you via SMS or email.
Step 8. Repayment Repayment:
The Groww app for monthly payments will guide you in setting up auto payments; you can choose either auto payment or manual payment based on your preference. Selecting the automatic payment mode lowers your chances of missing an EMI, which makes it easier to maintain a favourable credit score.
What are the eligibility criteria for the Groww app’s personal loan?
To take a loan from the Groww Loan App, you must meet the following eligibility criteria:
- Age: The applicant should be more than 21 years old and not more than 60 years old.
- Income: The minimum income depends on the profession. If someone is salaried, they need to earn at least ₹15000 per month, and if the applicant is self-employed, they need to have an income of at least ₹15 lakh per year
- Occupation: It is mandatory for a salaried person to have experience working continuously for the same organization for at least one year; for self-employment, it is necessary to have been in the same profession for the last two years.
- Credit: Score Generally, if someone has a credit score of more than 750 or up to 750, they can get a reasonable interest rate If the credit score is less than 750, it is likely that the interest rate will be higher
How to contact GrowwApp customer care?
You can use the following details to contact Groww’s customer service. The customer service team is available 24 hours a day, seven days a week. They usually respond within 24 hours via email.
- Phone Number:
- Customer Number: +91 9108800000
- Optional Customer Care Number: +91 9108800604
2. Email Customer Support: – support@groww.in
3. Additional Information – For cyberattack-related issues, contact cyberattack@groww.in or call +91 8086249147
4. Registered Office: Vaishnavi Tech Park, 3rd & 4th Floor, Sarjapur Main Road, Bellandur, Bengaluru – 560103
What are the documents required for a personal loan from the Groww App?
To avail a loan from the Groww Loan App, you will need the following documents:
- Identity Proof – PAN Card and Aadhar Card
- Residence Certificate—
- Voter ID card
- driving licence
- PAN
- An Aadhaar card can be used as proof of address.
- Income: generally, a bank statement for the last 3–6 months is required.
- Photo and Signature—Your selfie with a signature on white paper is required.
What other loan options are available besides the Groww App?
In addition to the Groww app, the following loan options are available:
-
AND Money:
- Interest Rate: Personal loans range from 11.99 per annum to 26% per annum.
- Loan Amount: Up to ₹20 lakh
- Tenure: Most lenders offer tenures of up to seven years.
2. Kuvera
- Interest Rate: The personal loan limit starts from 10.50 per annum and goes up to 44% per annum.
- Loan Amount: The tenor can go up to Rs. 5 lakh.
- Tenure: The loan period is up to 60 months; however, some lenders may extend it to 84 months.
3. 5paisa Capital
- Interest Rate: Personal loans range from 10.5% per annum to 24% per annum.
- Loan Amount: Up to Rs 10 lakh from multiple lenders
- Duration: From 6months to 36 months.
4. Kotak Mahindra Bank
- Interest Rate: The interest rate starts at 10.99% p.a.
- Loan Amount: Up to 40 lakhs can be availed.
- Tenure: Available for 1 to 6 years.
5. Bandhan Bank
- Interest rate: Typically, the personal loan limit starts at 9.47.
- Loan Amount: Minimum value of ₹ 30,000 and maximum up to ₹ 50 lakh
- Tenure: A loan term is offered for six years (72 months).
These platforms offer various features for personal loans, catering to different financial needs and preferences.
FAQs – Questions and Answers About Groww App: –
What are the disadvantages and advantages of the Grove app?
- Advantages include easy account setup, a user-friendly interface, and a wide range of investment options beyond personal loans.
- Disadvantages include limited customer support options and a complete dependence on internet connectivity. There is no offline service available like other banks.
2. What is the maximum loan amount on the Groww app?
The Groww app offers a maximum personal loan amount ranging from 50000 to 500000.
3. Is the Groww app real or fake?
The Groww app is a legitimate and genuine platform for personal loans, investments, and financial services in India.
4. Is theGroww app safe?
Yes, Groww is safe and adheres to RBI guidelines. It is registered with SEBI and AMFI, ensuring regulatory compliance and protection for users‘ investments, loans, and financial services.
5. Who owns theGroww app?
The Groww app is owned by Nextbillion Technologies Pvt. Ltd., which was founded by former Flipkart employees Lalit Kesare, Harsh Jain, Ishaan Bansal, and Neeraj Singh.
6. Is theGroww app legal?
Yes, the Groww app is legal. It is registered with the relevant regulatory authorities in India, such as SEBI and AMFI.
7. What is the interest rate offered by the Groww app?
The interest rates on the Groww app depend on the type of loan and the credit score or amount, although it can range between 10% and 22%, depending on the applicant’s profile.
8. If there is a delay in repayment of the loan instalment, will there be any late payment charges?
- Yes, if the EMI bounces or there is a delay in payment, then a penalty is imposed for late repayment of the loan installment.
- However, it depends on the amount or day. Information about late payments or other penalties can be obtained from the agreement details or by contacting Groww’s customer support.
9. How long does the loan approval process take?
Usually, on the Groww app, it takes 15 to 20 minutes to get approved for a personal loan
10. What are loan prepayment and foreclosure charges?
- You can repay your loan early, but it depends on the lender. If your lender is IDFC’s first bank and Groww App Credit Service, there is no foreclosure fee, but there is a 2% foreclosure fee in the credit session.
- If you make a foreclosure payment outside of another portable or Groww app, you may have to pay some additional fees.
Conclusion:
In summary, Groww is a reliable, user-friendly platform for loans, investments, and trading various financial products. And the Groww app offers its borrowers a flexible tenure between 3 and 60 months so that the borrowers can choose the tenure as per their preference and financial situation.
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