LazyPay is a part of PayU – a renowned provider of financial services in international growth markets. The company uses innovative technology to provide easy financing options to customers.
|Lender||Interest Rate||Processing Fee||Max Tenure|
|LazyPay||15% to 28%||2%||3 months to 24 months|
LazyPay offers personal loans to those seeking quick and instant credit. In order to avail a personal loan from LazyPay, all you have to do is download the app and complete the KYC formalities. Interest will only be charged on the amount you borrow, making it a convenient option to meet your immediate financial expenses.
In order to be eligible for a LazyPay personal loan, you will have to complete your KYC and check the credit limit for which you are approved. You will also have to submit your bank details for auto repayment, after which you are free to use LazyPay.
The documents required to avail a LazyPay personal loan are your PAN card, your address proof and your ID proof (Aadhaar Card).
Here are the key features and benefits of a LazyPay personal loan:
You cannot extend your repayment date under normal circumstances, but if you have any technical problems in repaying your loan, you can reach out to the company’s customer care centre.
Since your bank account will be linked to your LazyPay account, you will have to ensure that adequate funds are maintained so as to repay the loan. In case your account does not have adequate funds and auto debit cannot be done successfully, LazyPay pays a fine to your bank for the failed attempt. The amount is added to your statement and bounce charges are levied at Rs.300 per billing cycle.
The documents that can be submitted as address proof apart from your Aadhaar card include passport, voter ID, bank passbook, driving license, gas bill, electricity bill, bank statement, landline bill, or mobile bill.
Interest rates are charged based on a few factors such as the amount your wish to borrow, the tenure of the loan, and your credit score. If you have a high credit score, you could ask the company to lower your interest rate.
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