Introduction to Personal Loans and Dhani App
Now look, I don’t know why people fall into the trap of any unnecessary application. Just two days ago, I got such a comment that brother, I was applying for a personal loan from Dhani and I don’t even have a loan there. Got it but I had to purchase some product which was of no use to me brother. So watch brother, in today’s video I am going to show you about taking a personal loan from Dhani, whether we get a loan here or if all the things of ours are fake.
Downloading and Setting Up the Dhani App
You can apply for a personal loan from YouTube0, so friends you can see here. I downloaded the Dhani application from Play Store, after downloading, as soon as I open it, it will load a little. After that, you will get the option to enter your phone number, so brother, you have to enter your mobile number, whichever number you want to log in.
- Enter your phone number
- After entering, simply process it
- Enter the password (if you created an account earlier)
If you haven’t created a password, click on the login with OTP. OTP will be sent to your mobile number and through that, you can log in.
Logging In with OTP
Here, you can see our OTP has come successfully. We enter this OTP here and proceed. After that, you can create your password immediately, and you will be authenticated again through your number. We received the OTP, entered it, and logged into our Dhani account.
Exploring Dhani App Features
After logging in, you will get three options below:
- Wallet
- Scan and QR
- Loan
When I click on the loan option, it notifies me, showing that I can apply for a loan of Rs. 0000 from Dhani, but also less than Rs. If you really want to apply for a personal loan, then you should leave the Dhani Application aside. I will give you a detailed comparison of all the loan-giving companies or NBFCs in the market.
Alternatives to Dhani
In all the applications I am telling you about, either you need a minimum salary or a minimum civil score. Without these, there is no application that gives 100% loan approval, except for Branch.
Using the Branch Loan Application
You can get a loan sitting at home without any income proof from the Branch application. First, download the Branch loan app. The direct link is in the description box. After downloading:
- Verify your phone number
- OTP will be sent to your number
- Verify by entering the OTP
Verifying Your Email ID and Setting a PIN
Next, verify your email ID. Select your email ID from the list, agree, and share. After this, set a security pin. This pin will be required every time you log into the Branch application. After setting the pin, click Continue.
Getting Started on the Branch App
After completing the verification, you will see the following options on the home page:
- Loan: Click on the loan option to proceed.
- Investment: Ignore this option as it is not relevant for loan purposes.
Applying for the Loan
Click on Start Your Loan Application. Allow some permissions for the app to proceed. Next steps:
- Aadhar Card Verification: You have two options:
- OTP verification
- Upload a photo of your Aadhar card
- Upload a Selfie: After uploading the Aadhar card photos, upload a selfie.
After submitting the details successfully, continue with the process. You will be asked whether you are politically active or an exposed person. Accept the terms and conditions by ticking the box.
Submitting Income Details
Next, enter your income details. You will need to:
- Choose your income type: salaried or self-employed.
- Enter your monthly income (below ₹20,000 in this example).
Click on the Continue option. Now, you will be asked to submit your bank account details.
Loan Approval and Terms
After processing, the system will approve a loan amount according to your eligibility. In this case, the maximum loan is ₹500,000, and the minimum is ₹4,000.
- Loan options: 62 days or 90 days repayment terms
- For a ₹4,000 loan, choose the amount and continue
- Repayment schedule: 2 months for ₹2,200 or 3 months for ₹6,625
Loan Disbursement Process
After finalizing the loan amount and repayment period:
- The processing fee + GST is added
- Interest is charged (₹375 in this example)
- Disbursement amount is ₹5,375
Now, you will see the details, including the bank account where the amount will be credited.
Receiving Loan in Bank Account
Once the loan is processed, the money is credited to your bank account, and you will get a notification from the bank. After receiving the funds, the repayment schedule will also be visible in the app.